The Drama Is Back: Boehner To Hold Press Conference At Market Close

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Mon, 07/25/2011 - 13:58 | 1491180 bugs_
bugs_'s picture

stay firm boehner

Mon, 07/25/2011 - 14:00 | 1491194 redpill
redpill's picture

Send the Boehner some Cialis for Daily Use (tm)!

Mon, 07/25/2011 - 14:01 | 1491204 JLee2027
JLee2027's picture

+14.3 trillion

Mon, 07/25/2011 - 15:26 | 1491589 DoChenRollingBearing
DoChenRollingBearing's picture

+ the same amount.

I really hope Boehner does not cave and make a horrible deal.

Read my take at my blog!  Don't have the link?  Send me a gmail at my name and promise you will behave.  Two new articles, one a fun new xtranormal silver video (w/ robots, thx Cyndi!) and what happens if we DEFAULT (unlikely IMO, but possible).  I am curious to get more views on what might happen if we DEFAULT.

Mon, 07/25/2011 - 14:09 | 1491245 GeneMarchbanks
GeneMarchbanks's picture

Is that advice or a sort of note-to-self?

Mon, 07/25/2011 - 14:14 | 1491266 TruthInSunshine
TruthInSunshine's picture

Raising the debt ceiling means that an already indebted government can borrow more to finance even more deficit spending, even though it already has such a massive debt load that it literally can not pay back the debt it currently owes, so this is sort of like maxing out your credit cards and other unsecuritized lines of credit when you know in advance that you're going to file for bankruptcy or otherwise not be able to pay back your debt in any event.

 

Hookers & Blow; Life is Short, Have Fun.

An Economic Treastise in Rational -vs- Rationing.

by John Maynard Keynes (Krugman Publishing House 2011)

Mon, 07/25/2011 - 15:29 | 1491595 DoChenRollingBearing
DoChenRollingBearing's picture

Will Krugman Publishing pay me $40.00 for that book?  And $40.00 more to read it...

LOL, TIS

Mon, 07/25/2011 - 14:15 | 1491269 IQ 145
IQ 145's picture

Oh, I'd be soo unhappy if our chief executive was embarrassed. That would be just awful.

Mon, 07/25/2011 - 14:19 | 1491281 march52011
march52011's picture

lol...good one!

Mon, 07/25/2011 - 14:57 | 1491465 toady
toady's picture

Thats what she said.

Mon, 07/25/2011 - 13:59 | 1491188 redpill
redpill's picture

There's no way in hell Obama will accept any of that.

Mon, 07/25/2011 - 14:01 | 1491201 baby_BLYTHE
baby_BLYTHE's picture

of course not.

Remember this IS his re-election and nothing else.

He could really careless about the consequences otherwise

Mon, 07/25/2011 - 14:04 | 1491219 redpill
redpill's picture

The good news is, doing nothing is even better.  Debt ceiling stays in place, they are forced to make immediate cuts, and it's like a balanced budget amendment is already passed as we couldn't run deficits and issue more debt until we paid some of it off.

Come to think of it, we really don't need any legislation at all.  Let's let the debt ceiling do its job.

Mon, 07/25/2011 - 14:11 | 1491252 r101958
r101958's picture

Agreed!

Mon, 07/25/2011 - 14:33 | 1491330 Sudden Debt
Sudden Debt's picture

It sounds like the script of a Woody Allen Movie :)

but the sad part is that Disney wrote this scrip, so this means : EVERYTHING HAS A HAPPY ENDING!! Without the Azian chick in the end that is...

 

Mon, 07/25/2011 - 14:02 | 1491210 JLee2027
JLee2027's picture

There's no way in hell Obama will accept any of that.

He's trapped like a rat. Accept or Default. The Boehner squeeze!

Mon, 07/25/2011 - 14:07 | 1491227 redpill
redpill's picture

Caught between a Boehner and a hard place.

 

Obama will get desperate.  Howled accusations that Boehner is a racist and claims that senior citizens will be starving without their social security checks are sure to come by week's end, they'll empty the playbook on this one.

Mon, 07/25/2011 - 14:16 | 1491274 TruthInSunshine
TruthInSunshine's picture

Boner has repeatedly stated that dealing with Obama was like negotiating with jello.

Caught between a boner & jello.

Mon, 07/25/2011 - 15:32 | 1491609 DoChenRollingBearing
DoChenRollingBearing's picture

EXCELLENT commentary above guys!

But, we DO have a Deal worth mentioning: the Circus is on!  The NFL PLayers have apparently agreed to their Deal with the owners.  Party on, sheeple!

Mon, 07/25/2011 - 14:19 | 1491285 IQ 145
IQ 145's picture

 "--that Boehner is a racist--" will that be a type of O.J. Simpson defense? I don't care if they do run Sarah Palin next year; I'm not only going to vote for her I'l be a volunteer campaign worker.

Mon, 07/25/2011 - 14:24 | 1491304 lolmao500
lolmao500's picture

Caught between a Boehner and a hard place... I hope Obama is prepared to give a deep throat.

Mon, 07/25/2011 - 14:06 | 1491229 malikai
malikai's picture

I think the Boehner likes being squeezed.

Mon, 07/25/2011 - 14:10 | 1491248 redpill
redpill's picture

Dr. Evil: Our early attempts went through several preparations. Preparations A through G were a complete failure. But now, ladies and gentlemen, we finally have a working tractor beam, which we shall call... Preparation H.

Number 2: Dr. Evil, I love your plan.

Dr. Evil: You do?

Frau Farbissina: Yah. It's a really good plan.

Dr. Evil: Yes Frau, on the whole Preparation H feels good.

Mon, 07/25/2011 - 14:09 | 1491244 carbonmutant
carbonmutant's picture

It's not up to Obama.

Reid and Pelosi will make the decision...

Mon, 07/25/2011 - 14:12 | 1491257 redpill
redpill's picture

Reid and Pelosi don't make decisions, they take orders.

Mon, 07/25/2011 - 14:13 | 1491264 carbonmutant
carbonmutant's picture

Obama cant' cut a deal without them...

Mon, 07/25/2011 - 14:16 | 1491271 redpill
redpill's picture

Well I'm hoping there's no deal at all, personally :)

And contrary to the talking heads, it doesn't mean default.  It means prioritizing interest payments and cutting as needed.  Long overdue.

 

Mon, 07/25/2011 - 14:21 | 1491294 carbonmutant
carbonmutant's picture

Truely...

Mon, 07/25/2011 - 14:30 | 1491322 Sudden Debt
Sudden Debt's picture

Maybe if they print it, put it in a brown enveloppe, thicking it up with a bit of more "green" paper and give it to him under the table?

 

Mon, 07/25/2011 - 14:00 | 1491196 drink or die
drink or die's picture

Am I missing something here?  How can anyone take any of this seriously when they are talking about cutting 1.5-2T over 10 years, and the annual defecit is 1.5T/year?  Doesn't that fact alone make this entire thing completely pointless?

Mon, 07/25/2011 - 14:03 | 1491208 SWRichmond
SWRichmond's picture

Doesn't that fact alone make this entire thing completely pointless?

Yes, and not to mention the fact that the actual deficit, due in large part to accrued SS and other obligations, is really about $5 Trillion annually.

Mon, 07/25/2011 - 14:05 | 1491221 JLee2027
JLee2027's picture

And they can't even agree on a couple hundred billion this year.

Laughable.

Mon, 07/25/2011 - 14:24 | 1491289 redpill
redpill's picture

Not to mention that any time any one of these a-holes mentions a 10 year timeframe, it's a guarantee they are lying to your face.

Since when does any current Congress give a shit about what promises were made 10 years earlier?  It's hollow nonsense.

I have an idea, why don't we cut spending by $2T TODAY, and then we won't even need to raise the debt ceiling.

 

Mon, 07/25/2011 - 14:33 | 1491328 SheepDog-One
SheepDog-One's picture

They may as well just talk about 100 year timelines.

Mon, 07/25/2011 - 15:39 | 1491644 DoChenRollingBearing
DoChenRollingBearing's picture

JLee, redpill, SheepDog,

Agree with all your comments.  You guys are clearly smart.    :-~

We COULD always get our spending undr control (BIG CUTS).  Yes, I know all the bleeding hearts will talk about suffering, and there is no doubt that some would suffer if we JUST CUT THE SPENDING.  But, those (in greater part) are receiving money from .gov (that's likely me and you, guys).  Cutting spending has the great advantage of being transparent too.

I have seen comments above on what may happen if we do nothing (ie, just let the Debt ceiling do the cutting for us).  I ask all here (and read it at my blog): What happens if we default?  So many variables involved...

Mon, 07/25/2011 - 19:18 | 1492377 poor fella
poor fella's picture

Like 500 year fixed rate mortgages? Who WOULDN'T qualify? It's like 20 bucks/month! I serious no-brainer!

Mon, 07/25/2011 - 14:03 | 1491214 treemagnet
treemagnet's picture

Well, see - first you just gotta believe in all kinds of change.  Then it'll all make sense.

Mon, 07/25/2011 - 14:05 | 1491226 drink or die
drink or die's picture

Maybe that's my problem.  I really feel like I'm losing my mind when I watch the news.  How do people talk about this with a straight face while completely ignoring the underlying issues?  If I mention this to friends, they won't even acknowledge it. 

Mon, 07/25/2011 - 14:14 | 1491267 treemagnet
treemagnet's picture

And its only Monday.

Mon, 07/25/2011 - 14:39 | 1491352 andybev01
andybev01's picture

The reason the newsies can keep a straight face is that they have no clue what the words scrolling across their teleprompter mean.

They are paid to look good and appear vaguely concerned.

Mon, 07/25/2011 - 14:42 | 1491380 Vic Vinegar
Vic Vinegar's picture

Yup.  Most of them are just vapid, pretty heads who have no idea what’s going down.  However, you have to think some of them do.

What happens when a few more of them do figure it out?  Will anyone have a Howard Beale moment?  If so, I hope and pray it’s my boy Dom Chu…

Mon, 07/25/2011 - 19:26 | 1492406 poor fella
poor fella's picture

Good call - I say these days it's gotta be BIG. Dom, Pimm, crew-cut Matt, and Maryam talking SHITE about how the system has collapsed. Butting in on each other and AGREEING what a pile of turds the politicians are and the system 'officially' went over the edge about 1.5 years ago!!

Mon, 07/25/2011 - 14:48 | 1491412 Mad Cow
Mad Cow's picture

Most people are in a catatonic zombie-like state. Not just from prescription psychotropic drugs, but from the unconscious realization that their programmed-from-birth reality actually isn't real.
There is an alternative which I see you're already aware! Cheers!:

http://www.youtube.com/watch?v=wr-kn0JG5p4

Mon, 07/25/2011 - 14:07 | 1491236 ReallySparky
ReallySparky's picture

Agreed, It's a joke that 10 year time frame for cuts.  I know everyone here thinks they will extend prior to the deadline.  But something tells me that Boner is setting him up to take the fall.

Mon, 07/25/2011 - 14:22 | 1491298 redpill
redpill's picture

If Boner can pull that off, he's a better politician than I realized.

Mon, 07/25/2011 - 15:34 | 1491623 Urban Redneck
Urban Redneck's picture

Boner's a poltician, show me the TEXT of a bill he wants to bring to the floor, then I can at least separate the #'s and the BS.  All we have now is politicians in an agonizing slow-motion televised Pong marathon.

Mon, 07/25/2011 - 14:27 | 1491315 Nedly66
Nedly66's picture

Umm are you new to America? Have our politicians EVER done anything that wasn't short sighted and meant to kick the can down the road? Why should this time be any different?

 

Trust them to be who they are and do what they do best.   Don't ever trust them to put your interests first.

Mon, 07/25/2011 - 14:01 | 1491199 mynhair
mynhair's picture

A firm Boner; that's the spirit!

Mon, 07/25/2011 - 14:03 | 1491212 baby_BLYTHE
baby_BLYTHE's picture

he's probably already burned through a full pack of his Marlboros today.

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