Details Of Boehner's Plan Emerge

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Mon, 07/25/2011 - 12:30 | 1490845 Xibalba
Xibalba's picture

ES doesn't seem to be paying attn

Mon, 07/25/2011 - 12:44 | 1490900 Ident 7777 economy
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Headline on Drudge:





AP story:






Mon, 07/25/2011 - 13:39 | 1491125 redpill
redpill's picture

"...urgently pieced together competing plans Monday to prevent a first-ever government default next week."

AP has been saying this "first-ever" shit for days now, it's complete BS.  The US Government has defaulted numerous times.  Continental dollars anyone?

Mon, 07/25/2011 - 13:49 | 1491156 Dr. Richard Head
Dr. Richard Head's picture

Even the modern day Federal Reserve Note has defaulted three times since it came into existence -


The U.S. government defaulted at least three times on its obligations during the 20th century.

-- In 1934, the government banned ownership of gold and eliminated the right to exchange gold certificates for gold coins. It then immediately revalued gold from $20.67 per troy ounce to $35, thus devaluing the dollar holdings of all Americans by 40 percent.

-- From 1934 to 1968, the federal government continued to issue and redeem silver certificates, notes that circulated as legal tender that could be redeemed for silver coins or silver bars. In 1968, Congress unilaterally reneged on this obligation, too.

-- From 1934 to 1971, foreign governments were permitted by the U.S. government to exchange their dollars for gold through the gold window. In 1971, President Richard Nixon severed this final link between the dollar and gold by closing the gold window, thus in effect defaulting once again on a debt obligation of the U.S. government. " - Dr. Congressman Ron Paul

Mon, 07/25/2011 - 13:36 | 1491116 Assetman
Assetman's picture

Of course, there's a template for reducing the deficit already out there in the form of a 700 page report from the President's Bilateral Commission.  But neither party really wants to refer back to what might really work.  Why?  It's too painful.

Now we are to believe we need a Committee to make these tough decisions?  Plan Reid and Plan Boehner both pretty much suck.  A compromise between the two plans will likely result into something close to "double suck".

Sounds to me like BOTH parties want to pull the band-aid off slowly... but defer the "really tough" things long enough to make it through their 2012 re-election campaigns.

Now... why are we going to re-elect these losers again?


Mon, 07/25/2011 - 13:50 | 1491162 whaletail
whaletail's picture

I don't think the pain in the bilateral commission report is the reason neither side wants to adopt its recommendations. That might be the Dem's position, but the Republicans want only a short term solution [sic] so the issue comes up again before November, 2012.  That's right: they want to have this debate all over again next year.  If they succeed, they'll have 6+ months to raise more support for their cuts in spending forcing the issue as the #1 issue in the elections. 

Now, if the short term solution is not passed by whatever the deadline is and the U.S. defaults, it will be because either the Dem-controlled senate didn't pass it OR the President vetoed the plan.  If it is the latter, that means the Dems in the senate ignored the President's bottom line that there would be no debt deal unless it went through the 2012 election.  If the President vetoes any short term solution, then the Republicans can argue the President defaulted the country because of his political ambition and desire for a 2nd term.

The President is in a Catch-22. He's been trumped. 

Mon, 07/25/2011 - 14:43 | 1491386 Skeebo
Skeebo's picture

Obama did it to himself too.  All the MAD talk doesn't do you any good if you leave a pretty obivious path for your opposition to paint you into a corner.

Mon, 07/25/2011 - 16:35 | 1491957 Quaderratic Probing
Quaderratic Probing's picture

Agreed..the Pres should never said he would veto, He should have played up the Reps refusal to extend and when it fails and no checks go out.. Please call the Teaparty for your check. I find it odd that the rich complain about govt payouts when the money never stays in the pockets of the poor, it always migrates to the rich. The poor have no stocks in medical companies or the food chain or the apartment rentals. So the treat to block Govt payouts in the end harms the rich Note to Obama " Know the value of what you are negotiating to the OTHER GUY FIRST so your bullshit detector will go off when he says " You are the only loser "" Think Air craft controllers strike and the European union stand on " We refuse to land " and Ronnis responce " Miss one flight and I wll ban your Airline from US skies " Compromise does not win in Poker kids.............

Mon, 07/25/2011 - 18:38 | 1492301 Freddie
Freddie's picture

LOL!  Obama voter you have been outed. What a tard.

Mon, 07/25/2011 - 12:30 | 1490846 Xibalba
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Mon, 07/25/2011 - 12:31 | 1490850 Cognitive Dissonance
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Cuts by committee. 

Wasn't this how the jackass was made, when a committee tried to make a horse? 

Mon, 07/25/2011 - 12:35 | 1490874 Silver Dreamer
Silver Dreamer's picture

Rule by committee is good for you!

Mon, 07/25/2011 - 12:43 | 1490923 TruthInSunshine
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"All animals are equal, but some animals are more equal than others."


Animal Farm by George Orwell (1945)

Mon, 07/25/2011 - 13:02 | 1491010 Oh regional Indian
Oh regional Indian's picture

Too funny TIS, I just made the same comment on the Italy bond auction thread.

Everythign Orwellian is apropos at thsi time, eh?


Mon, 07/25/2011 - 13:05 | 1491027 TruthInSunshine
TruthInSunshine's picture

I used to think Orwell was sooo 1984, and he is/was, but he's even more 2011.

Mon, 07/25/2011 - 13:20 | 1491076 A Man without Q...
A Man without Qualities's picture

Even if you've read it before, I recommend Huxley's "Brave New World".  "1984" really reminds me of the Soviet Union, just before the collapse, but "Brave New World" is eerily resonant with today in the West....

Mon, 07/25/2011 - 13:23 | 1491083 Cognitive Dissonance
Cognitive Dissonance's picture

And it is free. As in no cost free. Free as a bird. Free at last, I'm free at last.

Mon, 07/25/2011 - 13:37 | 1491120 TruthInSunshine
TruthInSunshine's picture

I'm going to free fall into some of that Brave New World resonance.

Thanks for the tip & link.

I feel more like a free man with each passing day.

"He is the freeman whom the truth makes free,

And all are slaves beside."

--William Cowper   

Mon, 07/25/2011 - 13:58 | 1491182 Vic Vinegar
Vic Vinegar's picture

Nice quote.

I never could figure out Huxley and Orwell.  Trying to warn the peeps?  Working for the man?  A bit of both?

All I know is "Brave New World" is so damn depressing.

Mon, 07/25/2011 - 17:53 | 1492212 trav7777
trav7777's picture

depressing?  Why?  They engineered a society where everyone was happy except that obsolete savage with his outmoded morals and silly idealism.

EVERYONE ELSE was happy.  How is that depressing, because you are a misanthrope?

Mon, 07/25/2011 - 13:40 | 1491129 V in PA
V in PA's picture

Thanks for the link CD. I saved a copy here at work to read on lunch break.

Mon, 07/25/2011 - 17:54 | 1492213 trav7777
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there's a copy on the web at

Mon, 07/25/2011 - 12:31 | 1490855 drink or die
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The solution is always to form a committee to solve a problem.  Then when the committee's findings are rejected, they use that as the talking points for their re-election campaign.

Mon, 07/25/2011 - 13:41 | 1491134 redpill
redpill's picture

The more the planners fail, the more the planners plan.

Mon, 07/25/2011 - 13:50 | 1491164 CrashisOptimistic
CrashisOptimistic's picture

The committee approach is not bad here.

The math compels them to take money from entitlements.

Politics will compel them to take some painful tens of billions for DoD.

That might just pass.

Mon, 07/25/2011 - 12:34 | 1490865 Azannoth
Azannoth's picture

This tells you all you need to know about the Presidents/Democrats willingness to cut spending, they see 1Tn as 'partial' who said it was 'partial' just cut the spending and make it 'full'

Mon, 07/25/2011 - 12:34 | 1490869 dbach
dbach's picture

here's a money saving tip Boehner, use the last deficit reduction committee's results (which were great) rather than pay a new committee to write yet another report that won't be read...

Mon, 07/25/2011 - 12:57 | 1490992 Ident 7777 economy
Ident 7777 economy's picture




rather than pay a new committee to write yet another ..

-  - -  - -  - -  - -  - -  - -  - -  - -  - -  - -  - -  - -  - -




Said committee already collecting salary; committee to be composed of sitting congressmen (and women) ...




Mon, 07/25/2011 - 13:09 | 1491041 fuu
fuu's picture

Job growth...

Mon, 07/25/2011 - 12:35 | 1490870 TruthInSunshine
TruthInSunshine's picture

I think that they will/may/won't take this deal and that the U.S. will/definitely will/absolutely will be just as bankrupt.

Mon, 07/25/2011 - 12:35 | 1490875 CharlieSDT
CharlieSDT's picture

These politicians are such jackasses.

Mon, 07/25/2011 - 12:35 | 1490876 mynhair
mynhair's picture

Reid has caved.

Mon, 07/25/2011 - 13:03 | 1491016 Oh regional Indian
Oh regional Indian's picture

That sounds dire. 


Mon, 07/25/2011 - 12:35 | 1490878 mt paul
mt paul's picture

blah blah blah...


words with no meaning 

Mon, 07/25/2011 - 12:35 | 1490879 JJSF
JJSF's picture

Green close regardless of news. No need to even discuss anything these days.

Mon, 07/25/2011 - 12:37 | 1490890 Bob
Bob's picture

Bullshit fatigue is taking its toll.

Mon, 07/25/2011 - 12:39 | 1490898 cosmictrainwreck
cosmictrainwreck's picture

yup - looks like the formerly long-anticipated flash-crash will be just one more blip on the charts.... brilliant

Mon, 07/25/2011 - 12:41 | 1490910 SheepDog-One
SheepDog-One's picture

No way out of this mess at all is 'highly bullish'.

Mon, 07/25/2011 - 12:37 | 1490884 Ecoman11
Ecoman11's picture

It's all about the elections.

Mon, 07/25/2011 - 12:39 | 1490902 SheepDog-One
SheepDog-One's picture

There will be no elections, as a top CIA agent just said this is it, Obama is the last 'president'. Wake up out of the 'its all about politics' crap, we're 3rd worlded.

Mon, 07/25/2011 - 12:42 | 1490917 Azannoth
Azannoth's picture

Even if so we won't find out till in 5 years

Mon, 07/25/2011 - 12:47 | 1490938 SheepDog-One
SheepDog-One's picture

No, he wasnt refering to the end of Obamas 8 years LOL he was saying there wont be one next year.

Mon, 07/25/2011 - 13:18 | 1491069 Rodent Freikorps
Rodent Freikorps's picture

I disagree.

President-for-life is still a president. Depends on what your definition of president is.

Mon, 07/25/2011 - 21:45 | 1492878 StychoKiller
StychoKiller's picture

"What do you need, Neo?"

"Guns.  Lots of guns." -- Neo, "The Matrix"

Mon, 07/25/2011 - 12:49 | 1490956 fuu
fuu's picture


Mon, 07/25/2011 - 13:01 | 1491006 SheepDog-One
SheepDog-One's picture

Seems I didnt save a link, I saw it as a youtube interview video.

Mon, 07/25/2011 - 13:15 | 1491043 fuu
fuu's picture

You are unable to view your browsing history or recently closed items to get back to it?

Mon, 07/25/2011 - 13:45 | 1491144 Oh regional Indian
Oh regional Indian's picture

Bingo SD1, but that possibility is too hard for most folks, even most folks here, to even consider.

This boat will tip over in October, too many signs pointing there.



Mon, 07/25/2011 - 13:56 | 1491179 JohnG
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Please stop pimping your blog in almost every comment, it is becoming quite annoying and you are becoming more and more troll like.  So just stop.

I know what you are doing and I am surprized that th Tyler's are allowing it.

Just stop, this is not your forum for SEO.

Mon, 07/25/2011 - 12:46 | 1490929 InconvenientCou...
InconvenientCounterParty's picture

Is it really?

It looks to me that if the candidate I voted for does not get elected, I don't have to participate anymore.

Furthermore, if I didn't personally vote for the person or the issue, I can piss on the USA its institutions, constitution, leaders etc. I can be as shitty as I want to be to anyone and everyone.

I love my America, whereas your America is worthless. Welcome to the revolution.

Do NOT follow this link or you will be banned from the site!