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Follow The Congressional Debate On The Boehner Plan Live
Those interested in the apex of today's Congressional charade can follow the House debate on the Boehner plan live at the following link. It appears that the House does have enough votes to not only take up the debt-limit plan but to successfully pass it (has to be over 218). As a reminder the actual vote is expected to take place at around 5:45pm.
Watch live streaming video from cspan at livestream.com
Summarizing from the Hill:
The House will hold a critical vote on the Republican Budget Control Act, Speaker John Boehner's plan for raising the debt ceiling and deficit reduction.
Members met at noon for legislative work, and are expected to start with the rule for the budget bill, S. 627. After an hour of debate on the rule, two hours of debate start on the bill itself, controlled by the Rules, Ways and Means and Budget committees.
A final vote on the Budget Control Act is expected sometime around 6 p.m. (notably, after the markets are closed). Just before the vote, Democrats are expected to offer a motion to recommit the bill.
According to an informal whip list kept by The Hill, 22 Republicans are either no votes or leaning against voting for Boehner’s measure. At least another 44 Republicans are publicly undecided, or their positions are unclear, according to The Hill's list.
Boehner only needs 216 instead of the usual 218 votes to pass his debt-ceiling plan when it comes up for a vote Thursday evening.
Normally 218 votes constitute a majority of the 435 members of the House.
Boehner can afford to lose two more votes in part because Rep. Maurice Hinchey (D-N.Y.) will not make it back for the vote because he is recovering from colon cancer surgery.
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what is so very fascinating is that none of
these people know what money is yet they all
speak authoritatively about and around it.
just like real life.
ps.
this is why we are truly doomed. think about it.
there was a time when there were grown ups who
would say grown up things in public, i think
when i was young.
'sup ya'll.
I just got here.
Anybody think this might not pass after the delay?
They won't bring it to a vote if it won't pass. Right now Boner is going around with 30 pieces of silver in his pocket and seeing what it will take to bribe 10 more Representatives to betray their constituents and vote for it.
MSNBC says vote is lacking for Pub bill.
Lack ten votes.
Also credit agencies says it is down grade candidate.
I wouldn't take what CNBC tells you to the bank, let alone trade off it...
I agree on CNBC. Changed it to MSNBC. My mistake.
Ron Paul is busy saving the country behind closed doors right now as we speak, bitch-slapping freshman congressmen that are getting tempted to step out of line. I donate to RonPaul_2012 like I donate to ZeroHedge and the ASPCA.
Well said. This is the future and they know it. All this does is allow them to consolidate their powers as the last defenders of what made us the great nation we formally were. All they will have left in the end to retain their stranglehold will be the canceling of elections and potential tyranny to prevent American from falling out of the hands of Wall Street and into the hands of honest citizens once again.
The truth is contagious bubba. The Internet is a game changer for transparency and new media that is independent (Much like the shining star Zero Hedge) and money can be raised with the click of a button and much like Linda McMahon burnt through 40 million on a losing campaign so will all those tainted dollars of the corporate beast cartels who hate our freedoms.
RIP USA.
What a fucking JOKE.
WASHINGTON (Reuters) - Republicans in the House of Representatives on Thursday delayed a vote a short-term bill to raise the nation's debt limit by $900 billion, Democratic sources said.
An aide to House Democratic leader Nancy Pelosi said Steny Hoyer, the Democrat's top vote counter in the House, had told his party members that Republicans had decided to postpone the vote. Republicans had been trying to rally up enough support to pass the bill, but the vote was expected to be close.
The drama ...
Here is what appears to be occuring. Usually the one party system would be able to stage a little theater, make some statements to appeal to their supposed "bases" and in critical times like this manage to "come together for the good of the country". What is happening is is the result of 2010. You may be asking yourself:
If the Republicans can pass a bill in the house and the Dems can pass a bill in the Senate that why can they not come together to craft a bill with some fictional accounting and cuts which are not really cuts but just slowed spending?
Answer: They can in a heartbeat.
The reason they are not is because some actual Americans are in Congress and they will vote against this bill and this will force the establishment left and right to unmask themselves as one party while bolstering the supposed honest "Tea Partiers" who are doing what they have been elected to do which is opposed any more spending and force the duopoly to admit they are one and the same.
That is why McCain unveiled himself yesterday as another established capture while bashing the Tea Party. So now it looks terrible for the Republicans to have Tea Party members standing tall and refusing to be assimilated into the one party system which can provide a catalyst for those running for seats in 2012 and allow true Americans in office to say, "See..look how they always come together to ensure the continuation of the ponzi and kick the can".
Boehner cannot get them under control and even today on Fox News the anchors were asking, "Why will they not just take one for the team this one time?". The answer is because compromise is a dirty word and it means compromising your beliefs and the constituency which elected you to be stalwart in defense of their economic liberties.
This is what both sides were desiring:
1) A theater vote on the right pretending they are for "Deep cuts" with tea partiers backing it (Which they are not because they know this is a stage show and not true cuts).
2) The left was going to vote down the Boehner bill in another theater show for their base.
3) A grand COMPROMISE via bi-partisan saviors of our nation who honestly care about Americans would be trumpeted out in the next few days that all supported and onward to the elections.
Instead they have a small group of people pointing out that David Copperfield really did not make the Statue of Liberty disappear and they are proving a problem to both parties stranglehold which is why we are seeing unprecedented attacks on the left and right in the media by Boxer, McCain in order to brainwash the masses as they sit down for 5pm dinner regardless of the news feed they watch blaming "Tea Partiers".
Now they will be forced to admit even further they are one party and this will embolden future Tea Party candidates campaigns in 2012 as they remove even more cronies from office.
Well just who the Hell was in charge of keeping honest people from getting elected? We can't have honesty, or integrity holding us back as a nation. Off with their heads!
Spot on, spot on you hit it right on the head. When the Tea partiers where tea baggers, the republicans used them to do everything they can to make it impossible for Obama to govern. What happened is that these individuals became a force and a power and now the go along to get along republicans and democrats can't get anything done or business as usual. And thats because they essentially made a Gollem/monster that they can't control, in fact they control them and not the other way around. The vote was stopped because Boehner couldn't get the votes needed. He's trying everything he can to get them to go along but they won't. I think what we are witnessing is the first real blackswan, something that the markets and people couldn't believe is happening or forseen. Who would have thought that politicians would allow this to get this far and possibly have the country default. They don't realize that a big chunk of the tea party see this as a positive.
In their minds if they allow this system to fall apart, then they will be helping to put it back together again. Sometimes a system or process is so bad that the only way to fix it is to wipe the board and start over.
I think the only question now is where the prioritization comes -- the debt deal is dead.
First meaningful benefit stoppages mean martial law within 24-48 hours -- we could be under martial law this time next week.
One of the best posts I've ever read on any blog. Thank you, sir.
I only wish that somehow all Americans could read and comprehend this post.
When you consider the money behind the TP movement from ealy on, its hard not to consider them as Captured too, but your thoughtful post bears consideration for me. Afterall, the movement picked up the baton of HOPE dropped by the Obama campaign and even I was inspired despite my own idealogical differences (mostly the social conservative rhetoric) because the candidates within the TP seamed to have an integrity unseen for quite some time in American Politcal one-party-rule. Maybe it really is a new era in politics and the Dems and Repubs being portrayed or exposed more widely as two sides of the same coin (read: answer to the owners and not the people) will have some real consequences, finally.
But, I have to say, not one of them to me seams to have the grit to lead this country to better times, even from a post within the Legislative Branch which can be done. This is not an objection to the movement, I just don't beleive its recruited the leadership necessary to turn the tide, especially for people who depend on a paycheck.
MSNBC is marginally a little better.
I´m from Europe so i have the right to be a bit retarded. But if i understand they can´t agree about the name for a post office building? How about Bondzilla?
Dickens got it right in David Copperfield
"My other piece of advice, Copperfield, said Mr. Micawber, you know. Annual income twenty pounds, annual expenditure nineteen nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery. The blossom is blighted, the leaf is withered, the god of day goes down upon the dreary scene, and and, in short, you are for ever floored. As I am!"
It's a mistake to focus only on the expenditure side, there are many corporations and individuals who could, without even noticing put more in the kitty.
How about a little reality. When you jack up the taxes on a corporation do they A. suck it up and say 'oh well, I guess we will not make as much money this year'. or B. Pass the expense on to the consumer. Boner understands this and this is why he is against the increase in taxes at this time. You think this country can take $5 gallon gas right now? I don't.
You think this country can take $5 gallon gas right now?
It will be $1,000/gal in no time, regardless.
LMFAO. There's talk of minting (2) 1 trillion dollar coins. Life is way stranger than fiction.
<___ KEEP/REDUCE Debt Ceiling
<------ RAISE the Debt Ceiling
These people are barely qualified to rename POST OFFICES, let alone solve real problems. We are truly doomed.
"The fact that we're here today to debate raising America's debt limit is a sign of leadership failure. Leadership means 'The buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better. I therefore intend to oppose the effort to increase America's debt limit."
For 2 red cents - who said this in 2006
Boehner at least understands this
I'm on the edge of my seat.
Is it possible? By two votes?
Boehner is better than Reid or Pelosi, or the jackass minority whip of the House, whatever his name is
I guess people have shot memories and the average amerocan is an idiot. Do people forget things like this below? These are our leaders and we wonder why we are at this point!
In 1985 Frank was still closeted. That year he hired Steve Gobie for sex, a male prostitute, and they became friends more than sexual partners.[12] Frank housed Gobie and hired him with personal funds as an aide, housekeeper and driver and paid for his attorney and court-ordered psychiatrist.[12] In 1987 Frank kicked Gobie out after he was advised by his landlord that Gobie kept escorting despite the support and was doing so in the residence.[12][13] Later that year Gobie's friends convinced him he had a gay male version of Mayflower Madam, a TV movie they had been watching.[12] In 1989 Gobie tried to initiate a bidding war for the story between WUSA-TV (Channel 9), the Washington Times, and The Washington Post.[12] He then gave the story to The Washington Times for nothing, in hopes of getting a book contract.[13] Amid calls for an investigation Frank asked the House Ethics Committee to investigate his relationship "in order to insure that the public record is clear."[14] The Committee found no evidence that Frank had known of or been involved in the alleged illegal activity and dismissed all of Gobie's more scandalous claims; they recommended a reprimand for Frank using his congressional office to fix 33 of Gobie's parking tickets and for misstatements of fact in a memorandum relating to Gobie's criminal probation record.[15] The House voted 408–18 to reprimand Frank.[16][17] The attempts to censure and expel Frank were led by Republican Larry Craig, whom Frank later criticized for hypocrisy[18] after Craig's own arrest in 2007 for lewd conduct while soliciting gay sex in an airport bathroom.[19][20][21] Frank won re-election that year with 66 percent of the vote, and has won by larger margins until the 2010 Mid-term elections when Frank only won by eleven points.[22]
I say this http://youtu.be/gROfnYCSBhw
3rdWorld, I'm failing to understand why should i give a shit if some politician named frank who is a fag likes prostitutes. His sexual orientation is his own business, and so long as he doesn't vote to raise the debt ceiling or against net neutrality I'll vote for him bc I could not care less.
Agreed. Let states pick (create laws) the ideals and morals they choose (sexual orientation, taxation level, benefits level, etc). Stop the .gov from infringing upon my rights. I live in TX. I do not want any connection to the society in CA except...freedom to pursue my life, security (especially from aliens crossing borders), and property rights. All else should be left to the states, therefore individuals can find a locale that matches their morals/beliefs and can settle down and live life.
I say its time for TX to succeed and go it alone (or with a select few others)!!! Don't mess with TX!!!
Ummm, that's "secede." Not "succeed." Or did you actually mean Texas is failing and needs to go it slone to succeed?
I'm confused.
But, as a Yankee, could I have all my federal facilites back before you go? Was this an issue the last time? I forget.
If they secede they will succeed.
What about the guy in the airport lavatory? The guy in diapers? The BJ in the Oval Office?
I think these guys are bored.
Delay the final decision until after November 2012 ! Make this an election issue..... Who knows where this might lead.
I realize everyone is on pins and needles here, practically salivating over the prospect of getting a few trillion more FRN's into the system so we can continue our reckless stampede off into the proverbial sunset, however, I have what seems be an issue with the speed at which this new ZH system operates. I'm running Firefox 5.0, am allowing pop-ups and cookies and have a 54Mbps connection yet it's way sloooooooooow. Anyone else? Suggestions?
(1st half sarc) (second half legitimate)
Same.
$100k, pshychology degree. = $4,500,000 adjusted for malpractice on a state wide scale.
$200k, LLM tax degree degree. = $14,500,000 adjusted for malpractice on a national scale.
Golden rule = $0. And that is even before we new there was a western hemisphere to usury long enough to get the shiny hauled out.
no joy tonight, house in recess
Retreat may be more like it. Vote Cancelled.
is internet slow for everyone else too?
The whole thing seems kinda like, good cop, bad cop and the smell is terrible.
yes, this website is very slow right now and I was wondering why as well
I notice my posts are getting the thumbs down by the robo-losers in this room are breaking my little heart
Vote is a NO GO! Dems said to promise to squash the bill no matter what.....time for this ponzi market to take the big plunge...
This will make Lehman look like a walk in the park....bye bye TPTB...go straight to hell!!!!!! hahahahahaha
For American people to win Boehner has to lose. I normally don't write off topic stuff but I thought I had to share this with fellow zero hedger's (along with my gold stock recommendations) :-) I use an app by goyus.com to backup all 5 of my PCs and laptops to the cloud. They charge just $5 per month with no limit on number of PCs. The app is fast and completely automatic. It automatically found all my important files and prepared a catalog. It backs up all the files in the catalog at night every day. What impressed me most was when I lost my laptop last week. I bought a new laptop, installed goyus and with a couple of clicks told the app to restore all the files that were backed up from the lost laptop. It not only restored the files without a hitch, but also preserved the original access time, file creation time and last modified time. I was impressed :-)
Now here are the investment recommendations: GDX, GDXJ, NEM, RGLD, GG, SLW, KOL, ECA, ERF, PWE, PBT, BTE, JRCC, CVE, POT, MOS. Buy these, go to sleep, and you won't regret in 4 years what your portfolio is worth :-)
Good luck!
the debt ceiling is....
the bldging 7
of the economic 911....
Nah, everyone knows about the Debt Ceiling by now..
Come on, this thing should fail so we can get to the "Boehner pulls out" jokes already.
Deliberate deception? The claim that the Boehner's bill $917 billion in proposed cuts is more than the proposed $900 billion debt ceiling hike is false when measured in constant dollars. The time value of money must be considered to make a true comparison. Comparing $917 billion spread over 10 years to $900 billion in the present year, without adjusting for the time value of money, is false on its face. The present value of the cuts over 10 years needs to be discounted to the present value of the $900 billion debt ceiling hike.
I made a rough present value calculation using the CBO Table 3 figures for deficit cuts by fiscal year 2012-2021 as shown at:
http://www.zerohedge.com/news/boehner-releases-revised-plan-cut-917-bill...
For present value calculation, I used interest rates of 3% for 10 year, 1.5% for 5 year, and 0.39% for 2 year, and interpolated for intermediate years.
The result was a present value of $790 billion for the $917 billion in proposed cuts over 10 years. $790 billion is $110 billion less than the proposed $900 billion debt ceiling hike in Boehner's bill. This was just a rough calculation; other interest rates and assumptions would yield a different present value. But the present value would be much less than the $917 billions in undiscounted budget cuts. Boehner's bill is just the latest example of the tricks used by both Republicans and Democrats.
For the House of Representatives or the Senate or the White House to be presenting budget cuts and debt ceiling hike plans without showing the effects of the plans in constant dollars indicates deliberate attempts to deceive the public.
Futures crashing. No vote tonight
Looks like Boehner didn't have lobby checks to pass around this time.
FAIL!
YOUNG ,INEXPERIENCED OBAMA HAS NEVER HAD TO MAKE THESE KIND OF DEISIONS. hE WILL GO DOWN AS THE 2ND jIMMIE CARTER . OR POSSIBLY EVEN WORSE. THIS ADMIN. IS AN ABSOULTE FAILURE. i FUC--N HATE WHERE WE ARE.
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