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Here Is Boehner's Amended Amended Bill

Tyler Durden's picture




 

This the final final version of the Boehner bill which is "supposed" to pass Congress. We haven't read it yet. We doubt anyone else will either.

From the National Journal: "This is the latest version of the Boehner bill and reflects changes made after GOP leaders failed to assemble the necessary votes to pass it Thursday. This bill is the current legislative vehicle and may come to the House floor later Friday. As with the earlier version, it is subject to change if leadership so decides."

61205806-07-29BoehnerDebtBill 2

h/t Crown Thomas

 

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Fri, 07/29/2011 - 12:56 | 1505395 BaBaBouy
BaBaBouy's picture

USA Military resigns en-masse ...

Fri, 07/29/2011 - 12:59 | 1505405 somethingelse
somethingelse's picture

Are we talking Turkey?

Fri, 07/29/2011 - 13:00 | 1505417 Long-John-Silver
Long-John-Silver's picture

Deep Fried in Greece

Fri, 07/29/2011 - 13:01 | 1505421 redpill
redpill's picture

You guys are making me Hungary!

Fri, 07/29/2011 - 13:03 | 1505430 Helmholtz Watson
Helmholtz Watson's picture

Served on the good China

Fri, 07/29/2011 - 13:07 | 1505458 Long-John-Silver
Long-John-Silver's picture

and 925 Sterling Silverware.

Fri, 07/29/2011 - 13:13 | 1505493 papaswamp
papaswamp's picture

I'd better Czech on lunch...

Fri, 07/29/2011 - 13:31 | 1505583 redpill
redpill's picture

Sit down and relax papa, what's the Russia?

 

Fri, 07/29/2011 - 13:35 | 1505602 Libertarians fo...
Libertarians for Prosperity's picture

Lunch?  ... the Nigers should be delivering it soon.  

WHITE POWER!

Fri, 07/29/2011 - 13:42 | 1505657 aheady
aheady's picture

I'll Serbia dinner later on.

Fri, 07/29/2011 - 15:24 | 1506057 Agent P
Agent P's picture

You smelly Botswana knock off all this nonsense and get back to the topic at hand?

Fri, 07/29/2011 - 15:12 | 1506016 rcintc
rcintc's picture

Mmmmmmm.....Deep Fried Turkey.....aaaaaaal

Fri, 07/29/2011 - 13:01 | 1505418 Doyle Hargraves
Doyle Hargraves's picture

not without some peas bitchez!

Fri, 07/29/2011 - 13:09 | 1505473 Long-John-Silver
Long-John-Silver's picture

and market stuffing on the side.

Fri, 07/29/2011 - 13:21 | 1505542 wisefool
wisefool's picture

Chile beans are passible for americans who can't afford peas.

Fri, 07/29/2011 - 13:05 | 1505448 BaBaBouy
BaBaBouy's picture

They all come home and get jobs at Dunkin Donuts new IPO shops.

 

You try not payin for your coffee and you get shot...

Fri, 07/29/2011 - 13:15 | 1505502 slaughterer
slaughterer's picture

the light is green

the trap is clean

Fri, 07/29/2011 - 12:56 | 1505396 redpill
redpill's picture

The Senate won't pass a Balanced Budget Amendment in a million years.

Fri, 07/29/2011 - 13:02 | 1505425 Dr. No
Dr. No's picture

You are right.  Non of them want it.  They just want to say on T.V. they supported a balanced budget amendment.  They will loose it in committee where it will not see the light of day. Which reminds me, wasnt the Magna Carta signed at sword point?

Fri, 07/29/2011 - 13:15 | 1505503 papaswamp
papaswamp's picture

Swords or canes in congress would be rockin. CSAPN would make bank.

Fri, 07/29/2011 - 13:24 | 1505555 wisefool
wisefool's picture

Yup. And Axes, and Bows and arrows, and maces, and warhammers, and flails.

http://en.wikipedia.org/wiki/File:Joao_sem_terra_assina_carta_Magna.jpg

Fri, 07/29/2011 - 13:04 | 1505435 Long-John-Silver
Long-John-Silver's picture

2/3 Tea Party members in the House, 2/3 Tea Party Members in the Senate, and another 7+ years for 3/4 of the States to approve it.

The USA will be a foot note in History books by then.

Fri, 07/29/2011 - 13:09 | 1505469 redpill
redpill's picture

I think it would have a good chance of approval if it went to the states today, but it won't get there so it's moot.  This is just so Boehner can go on the Sunday morning news shows and say he's passed two different plans and the Senate refuses to consider either of them.

Fri, 07/29/2011 - 13:19 | 1505523 Ident 7777 economy
Ident 7777 economy's picture

 

 

 

"The USA will be a foot note in History books by then."

 

Aye.

 

Per Wikipedia: "Reconquista" (Mexico) 

Evolution of the Mexican territory.

The term Reconquista (in English, "reconquest") was popularized by contemporary Mexican writers Carlos Fuentes and Elena Poniatowska to describe the increased demographic and cultural presence of Mexicans in the Southwestern United States.

 

US - Mexican border 1836:

http://en.wikipedia.org/wiki/File:United_States_1834-1836-03.png

Fri, 07/29/2011 - 13:53 | 1505699 Joe Davola
Joe Davola's picture

That map's all wrong, it's got DC where the unorganized territory is.

Fri, 07/29/2011 - 13:37 | 1505597 smlbizman
smlbizman's picture

just read the table of contents......what does radio frequencys have to do with this????

 

that would start on page 68

Fri, 07/29/2011 - 19:43 | 1506846 nmewn
nmewn's picture

We're counting on it ;-)

Fri, 07/29/2011 - 12:58 | 1505401 reefermadness
reefermadness's picture

DOA.

Fri, 07/29/2011 - 13:49 | 1505618 Hansel
Hansel's picture

From my initial glance at the bill, the discretionary spending caps at least didn't change much from the last iteration of the bill.

http://www.cbo.gov/ftpdocs/123xx/doc12336/HouseBudgetControlAct.pdf

Fri, 07/29/2011 - 12:59 | 1505403 Hannibal
Hannibal's picture

The US Constitution: "ALL REVENUE MUST ORIGINATE IN THE HOUSE OF REPRESENTATIVE,...."

Fri, 07/29/2011 - 12:59 | 1505411 Dr. No
Dr. No's picture

I agree! All revenue should come from Congress!  Not the people!

Fri, 07/29/2011 - 12:58 | 1505404 Dr. No
Dr. No's picture

Whatever happened to "minimum of 24 hours on the web so that congress can acutally read the content of the bill"?

Fri, 07/29/2011 - 13:00 | 1505413 HelluvaEngineer
HelluvaEngineer's picture

No worries, the algos read it in less than a second.

Fri, 07/29/2011 - 13:01 | 1505422 SheepDog-One
SheepDog-One's picture

I think that was scheduled to start in the 7th year of His Majesty's throneship.

Fri, 07/29/2011 - 13:04 | 1505436 economessed
economessed's picture

Funny, as the GOP-led House said they were going to put all bills up for a 3 day review before calling a vote.  Even the rules they themselves create don't apply apparently.

Democrin, Republicrat - two sides of the same coin, and that coin is rapidly devaluating under Federal Reserve stewardship.

Fri, 07/29/2011 - 13:11 | 1505480 SheepDog-One
SheepDog-One's picture

Of course theyre all just a bunch of bullshitters, its a damn puppet show at the carnival!

Fri, 07/29/2011 - 13:16 | 1505507 Dr. No
Dr. No's picture

2-1 odds after it is passes we find out some earmarks funding some pork or cutting some stemcell or other.

Fri, 07/29/2011 - 12:59 | 1505412 SheepDog-One
SheepDog-One's picture

And the curtain rises for act 2 of puppet show diversion theater...enjoy.

Fri, 07/29/2011 - 13:02 | 1505414 Doyle Hargraves
Doyle Hargraves's picture

Work down to the wire, put together some bullshit that enslaves us to the debt even more than we already are, attach neat amendments and riders that fuck the average joe and may take away what very little liberty we may still have, , post it online to read as it is being voted on and celebrate saying the crisis is over! Brainless 'mericans do not question it and rejoice that crisis has been averted. Then months later it is discovered what really was in 'the bill'. The cure is more toxic than the disease bitchez!

Fri, 07/29/2011 - 13:10 | 1505476 slaughterer
slaughterer's picture

Primary revenue source seems to be governmant broadband auctioning.   Done years ago in Germany.  Partial failure. 

Fri, 07/29/2011 - 13:00 | 1505416 JR
JR's picture

A Congressman opposing the Boehner plan said this morning that rating agencies may downgrade U.S. financials even if the debt limit is raised. “It’s not the debt limit that’s the concern,” he said. “It’s the debt!”

The entire global economy is at tipping point, brought on by the Fed/IMF’s blueprints for a one-world planned economy.  And just as all past socialist economies have failed throughout the world - whether in Africa, Europe, Asia or South America - so has this one.

Using the world’s reserve currency to price fix and manipulate world markets for the profits and powers of the few has created today’s economic difficulties and widespread conflict between freedom and coercion.  All political remedy is now impossible; the world’s economies have taken over with a vengeance and all the IMF and Wall Street calls for higher deficits, more QE and increased government social planning will not put their world government scheme back together again.

As said the Rev. John Witherspoon, who assumed the presidency of the College of New Jersey (Princeton) in 1768: “Money is the medium of commercial transactions.  Money is itself a commodity.  Therefore every transaction in which money is concerned, by being given or promised, is strictly and properly speaking, a bargain, or as it is well called in common language, an agreement…”

Paper money was always Witherspoon’s thorn in the side. 

He wrote in Essay on Money: “To give…authority or nominal value by law to any money, is interposing by law, in commerce and is precisely the same thing with laws regulating the prices of commodities… Now nothing can be more radically unjust, or more eminently absurd, than laws of that nature.”

Bernanke, under the Rothschild guidance of “Let me issue and control a nation’s money and I care not who makes its laws,” has created today’s trillionaire monopolists and irreparable imbalances, and has brought the entire system down.

Fri, 07/29/2011 - 13:04 | 1505438 Charlie Bravo
Charlie Bravo's picture

....well said.

Charlie Bravo

Fri, 07/29/2011 - 13:13 | 1505491 TaxSlave
TaxSlave's picture

The entire global economy is at tipping point, brought on by the Fed/IMF’s blueprints for a one-world planned economy.

Too many words per sentence, too many syllables per word, and too many concepts per conclusion.

It doesn't appeal to fantasy or flattery, doesn't promise something for nothing, doesn't cure psoriasis or make your teeth white.

It doesn't turn the world into a giant hospital, doesn't change our diapers for us, doesn't think for us, doesn't give us retirement or health care, doesn't even destroy the people we hate.

It doesn't feed our avarice, appeal to hatred, pretend to be kind to widows and children with flies on their faces, or pretend to be sophisticated through incomprehensibility

It is a noble idea, doomed to failure.

We are going to get what lowest common denominator deserves.

Fri, 07/29/2011 - 13:17 | 1505512 SheepDog-One
SheepDog-One's picture

Yes their plans for 1 world govt have brought us to this tipping point, what do they have cold feet now? 

Fri, 07/29/2011 - 13:01 | 1505424 Seasmoke
Seasmoke's picture

ok..so they pass it, then the Senate rejects it......then Reid passes his in the Senate, then the house rejects it........then what ?

Fri, 07/29/2011 - 13:04 | 1505442 SheepDog-One
SheepDog-One's picture

Midnite Sunday final minute 14th ammendment usurpation to hand over blank checks.

Fri, 07/29/2011 - 13:07 | 1505462 TheLooza
TheLooza's picture

either Obama unilaterally raises or .. well.. remember the scene in ghostbusters where the city official in a fit or anger and spite flips the swtich deactivating the containment unit causing all the ghosts and demons to be released?...that.

 

oh look. i found the scene and it is dead freaking on.

 

http://www.youtube.com/watch?v=8vxEimC3HME

Fri, 07/29/2011 - 13:11 | 1505481 lolmao500
lolmao500's picture

The last bill was 4 pages long or so.. this one is 104 pages long. I bet it's real bad and it's filled with pork.

Fri, 07/29/2011 - 13:46 | 1505668 ElvisDog
ElvisDog's picture

But it must be 20 times better than the healthcare or wall street reform bills that were both over 2000 pages.

Fri, 07/29/2011 - 15:30 | 1506090 Agent P
Agent P's picture

But look at the margins...looks like all of my old college papers that had minimum page count requirements.

Fri, 07/29/2011 - 13:14 | 1505498 Mises knows best
Mises knows best's picture

They continue playing games like there is a difference between Dems and Repubs distracting the american people from the fact that the real battle is between the statists and the small gov't folks like Ron Paul.

http://www.freemarketfan.com/2011/07/debt-ceiling-dog-and-pony-show.html

Fri, 07/29/2011 - 13:34 | 1505607 chet
chet's picture

I see two possibilities:

1)  They negotiate something which will pass the House with enough moderate Republicans and Dems to get it through.  It gets zero GOP votes in the Senate, because they know it will still pass without their votes.  Ceiling is raised, but the rest of the bill staisfies no one.

2)  They can't get anything passed.  If this happens, I think we see the Fed do some emergency something or other to buy a couple months.  If the market goes apeshit, then the House GOP will be forced to quickly deal and we get some sort of compromise.  Obama would not try to invoke the 14th Amendment until people are feeling maximum pain and some critical mass is actually begging him to do it.

Fri, 07/29/2011 - 13:49 | 1505681 ElvisDog
ElvisDog's picture

The 14th Ammendment invocation is Armageddon because it tells the rating agencies and the world that the U.S. is out of control when it comes to spending and no self-discipline is possible. Rating downgrades and foreign repudiation of U.S. debt would occur immediately.

Fri, 07/29/2011 - 13:55 | 1505711 chet
chet's picture

I think the world is getting a pretty clear picture of our self-discipline, but yes invoking the 14th Amendment would be very disruptive. 

Keep in mind however that Denmark is the only other democratic country to have a debt ceiling.  So I don't know how much ratings agencies would freak if we stopped having this symbolic vote once a year.  The lack of a debt ceiling doesn't cause people to repudiate the UK's debt, or Japan's.

Fri, 07/29/2011 - 14:13 | 1505775 CrashisOptimistic
CrashisOptimistic's picture

 

Why would not the Democrats in the Senate be forced to quickly deal if the market goes apeshit?

Fri, 07/29/2011 - 14:49 | 1505916 chet
chet's picture

They will.  But the Dems are already trying to give the GOP everything they want.  There aren't many concessions left except things like balanced budget amendment, which just won't happen. 

The GOP might as well make their bill contingent on outlawing abortion, as passing an amendment to the Constitution.

Fri, 07/29/2011 - 13:02 | 1505428 scatterbrains
scatterbrains's picture

TD, Can we get a poll on expected outcomes here ?

Fri, 07/29/2011 - 13:03 | 1505433 Cdad
Cdad's picture

I'm not going to read it either.  However, and as I understand it, it now includes a MANDATORY balanced budget ammendment.

I'm sure the algos will just love that and get that loving feeling for 100 p/e "stawks" as a result.

Who is the inmate currently in charge of algorithms?  Someone should compassionately shove a rubber bit in his mouth.

Fri, 07/29/2011 - 13:04 | 1505439 bania
bania's picture

looks like we're on track for 6 down days on the DJIA in a row, for anyone who cares.

Fri, 07/29/2011 - 13:41 | 1505652 chet
chet's picture

It's only down .25% right now, even after horrific GDP numbers and the debt ceiling failure in the House.  If I needed any more convincing that this market is complete and utter bullshit, I now have it.  If it isn't down at least 5% on a week like this, it isn't going down until the final crack up.

On a similar note, treasuries are up on the news that we might default on them.

Fri, 07/29/2011 - 13:04 | 1505441 TaxSlave
TaxSlave's picture

Shared sacrifice!

Compromise your life's worth!

Negotiate with your executioner!

Reward evil!

Apologize for your success!

Pay those who hate you!

Chain yourself, handcuff yourself, get on your knees, and put your forehead on the ground at the feet of those you feed!

 

Fri, 07/29/2011 - 13:04 | 1505443 YesWeKahn
YesWeKahn's picture

The market is going to crash, sign it before reading it please.

Fri, 07/29/2011 - 13:05 | 1505444 Dr. Engali
Dr. Engali's picture

Do they read anything in Washington? Probably 26,000 pages long.

Fri, 07/29/2011 - 13:13 | 1505489 augie
augie's picture

we only need to look at ourselves for the answer. Everyone here has been through school, and everyone has not done their reading the night before class and then hopes the teacher doesn't call on them. Works great untill no one in the class does the reading. 

Fri, 07/29/2011 - 13:05 | 1505445 WW
WW's picture

Even if they did pass it,

the Balanced budget ammendment would be  just another game for them to make $$$ with.

They make the rules. Don't expect them to fix what's working for them.

Fri, 07/29/2011 - 13:05 | 1505449 lieutenantjohnchard
lieutenantjohnchard's picture

there's that word "practicable" again in the legislation. cost us culp's hill on day one at gettysburg.

Fri, 07/29/2011 - 13:05 | 1505450 stateside
stateside's picture

I didn't think a bill was allowed to be read before being voted on.....must have missed that class lecture.

 

Fri, 07/29/2011 - 13:05 | 1505452 Juan Wild
Juan Wild's picture

 

 

I'll pass on the Boner Bill, thanks.

Fri, 07/29/2011 - 13:05 | 1505453 MoneyWise
MoneyWise's picture

The only bill should state:

Pentagon no more bombing

Countries around the world. No more BS revolutions

a.k.a "Democracy" spread.

"Defense" spending means

just that, everything outside of the USA is "Offense"

and should not be funded by American taxpayers.

Period.

Thank you ladies and gentlemen's, that be it.

Case closed. From that $14 T in debt about 70% wasted

by Pentagon war criminals.

Fri, 07/29/2011 - 13:49 | 1505678 flattrader
flattrader's picture

Seen this yet?

http://www.nytimes.com/interactive/2011/07/28/us/charting-the-american-debt-crisis.html

Yep.  Those two GWB wars have been expensive.  And one was a complete fraud.

 

Fri, 07/29/2011 - 14:16 | 1505785 CrashisOptimistic
CrashisOptimistic's picture

 The Pentagon is only about 600B per year and a solid 150B of that is to pay veteran retiree pensions and health care for veterans.

So the remaining 450B out of a deficit of 1.5T in your world of math somehow equates to 70%?  If you cut it entirely?  To zero?  With no defense for the country at all?

Fri, 07/29/2011 - 14:38 | 1505873 karzai_luver
karzai_luver's picture

more like 1.2T and that's only counting the part they let you see.

 

that they have you trained to focus on the pentagon should be a tad worrying for your health.

 

 

 

Fri, 07/29/2011 - 13:05 | 1505454 Cleanclog
Cleanclog's picture

I'm not going to bother to read it either.  Failure to pass debt ceiling will actually let Grampa and Gramma make some money on their savings as interest rates rise.  Towards more normal levels.  10 year below 6% is absurd for this extended period.  But then US debt service, not to mention states and locals and universities and hospitals and everything (which is almost everything) that is in debt will have costs rise.  So . . . game over.  If ratings agencies were at all legit, they'd have downgraded all of these entities, including the US govt already.

 

Say it again.  We overconsumed on overly abundant credit => debt saturation => debt repudiation.  

Fri, 07/29/2011 - 13:06 | 1505455 Caviar Emptor
Caviar Emptor's picture

I love "Suspension in the event of low growth"

Fri, 07/29/2011 - 13:06 | 1505456 anyways
anyways's picture

unfortunately the corrupt and selfish 'government' will compromise once again on raising the debt ceiling over the weekend. Perfect outcome for the criminal banksters and their puppies obviously: rising stocks, rising bonds, falling USD. The ponzi will go on.

Fri, 07/29/2011 - 13:06 | 1505457 reefermadness
reefermadness's picture

This was a funny from Frum.

Why doesn't new Boehner bill just require Obama to resign in favor of a Republican before 2nd debt ceiling increase? Tidier.

Fri, 07/29/2011 - 13:08 | 1505467 Ryman1075
Ryman1075's picture

This is reminicent of the Patriot Act...try to ram it through and then let the Sheeple (and both houses) figure out what was in it after the fact.  This whole thing is a farce.  We need to cut spending on entitlement programs, lower the repatriation costs of money earned overseas so that corporations can bring back hundreds of billions of dollars earned in foreign countries with better corp tax rates, remove tax loopholes for big businesses (there is no reason for GE to get a tax return),  get out out of all of our undeclared wars, and finally close various military bases in foreign lands.

Fri, 07/29/2011 - 13:09 | 1505470 BetTheHouse
BetTheHouse's picture

That's not the Boehner bill.  That is the Reid bill introduced in the House for potential future political theater.  The Boehner bill is the same one as yesterday, with the exception that the second tranche of debt limit increase is made contingent upon a balanced budget amendment passing the House and Senate and being sent to the states.  That Boehner bill will pass this afternoon.  The Senate will immeidiately kill it.  And then the negotiations will ensue on a deal, which would use the Reid bill as a vehicle. 

Fri, 07/29/2011 - 14:19 | 1505797 CrashisOptimistic
CrashisOptimistic's picture

Nope, the Reid bill is DOA.

This revised Boehner bill will have to be the basis for all negotiations.

We've already been through all this.  That's why the negotiations failed.  The Democrats have no spending cuts at all in their bill.  300B over 10 years and those are not binding.

This is the only bill proposed that will actually empty agency cubicles, and if you do not empty agency cubicles, then you did not cut.

Fri, 07/29/2011 - 17:41 | 1506561 BetTheHouse
BetTheHouse's picture

And now that the Tea Party has cut off the head of John Boehner, just who do you think is going to provide the votes to pass an agreement in the House?  Democrats, that's who.  They will negotiate off the Reid bill and the Reid bill will be the vehicle.  Count on it.  

Fri, 07/29/2011 - 13:09 | 1505471 BetTheHouse
BetTheHouse's picture

Double post.

Fri, 07/29/2011 - 13:10 | 1505472 TomGa
TomGa's picture

Serous sausage making going on in the House rules committee right now.  As the Chairman just said, "This is all just theater, what goes on here in the rules committee and on the House floor."  "This is not the bill which will be placed on the President's desk. All we want to do here is get Boehner and Reid talking."

How did squabling children get elected to Congress?

Fri, 07/29/2011 - 13:17 | 1505505 WW
WW's picture

You can't be elected to Congress unless you're willing to play their games.

They weed out the others.

Every time I think I'm too cynical, something like this happens.

Fri, 07/29/2011 - 13:13 | 1505494 LawsofPhysics
LawsofPhysics's picture

What the fuck is all that funding for broadband networking doing in there?  I thought we were CUTTING spending?  It looks like the government is picking the winners and losers again based on political donations.  Gold to the moon.

Fri, 07/29/2011 - 13:22 | 1505544 SheepDog-One
SheepDog-One's picture

More central planning, in a bill thats supposed to do nothing but cut spending, theres tons of pork spending in it. Im done giving anything to these pirates.

Fri, 07/29/2011 - 14:44 | 1505897 karzai_luver
karzai_luver's picture

meanwhile check out the House/Senate total information storage bill that they are going to ram through.

 

Even though the NSA has it all now they are going to mandate that all commerical net providers retain a full year of everything down to the type of shorts you wear.

 

TOTAL FUCKING INFO on anyone with commerical access to net mandated , for a year at least.

 

Fucking Fascist scum.

 

WHy not just outsource the whole net to China , at least they will do it cheap and they have the RIGHT attitude.

 

 

Fri, 07/29/2011 - 13:23 | 1505547 Ident 7777 economy
Ident 7777 economy's picture

 

 

"What the fuck is all that funding for broadband networking doing in there? "

 

SEC P0RN reqm't; never leave home without it ...

 

Fri, 07/29/2011 - 13:31 | 1505580 WW
WW's picture

Pay no attention to our spending & giving away of national assets! - the House & Senate

 

Fri, 07/29/2011 - 14:02 | 1505736 Atomizer
Atomizer's picture

The peasants always play for new infrastructure.

Fri, 07/29/2011 - 13:16 | 1505508 gookempucky
gookempucky's picture

Pages 26-28 read as usual.....adjustments adjustments adjustments.....this thing has been painted with the worlds biggest fucking paintbrush on the planet....congress is nothing but failure and everyone of these so called politicians should be fired/jailed and or unemployed.

TWADDLE DEE TWADDLE DUM

Fri, 07/29/2011 - 13:18 | 1505519 Fish Gone Bad
Fish Gone Bad's picture

Knock knock.

Who's there?

Boehner.

The Tea Party is eating your lunch.

Fri, 07/29/2011 - 13:20 | 1505534 marcusfenix
marcusfenix's picture

so, if i am reading the bill correctly these spending "caps" aren't really spending caps at all, there more like spending limit suggestions that can be increased by the very same debt addicted, wall street minions who are currently destroying what little remains of our enconomy to get that one last hit off the pipe.

is that correct or am I missing something? 

Fri, 07/29/2011 - 13:21 | 1505539 bbq on whitehou...
bbq on whitehouse lawn's picture

‘‘discretionary spending limits’’ has the following
13
meaning subject to adjustments in paragraph (2)
14
and subsection (c):
15
(A) For fiscal year 2012—
16
(i) for the security category
17
$606,000,000,000 in budget authority; and
18
(ii) for the nonsecurity category
19
$439,000,000,000 in budget authority.
20
(B) For fiscal year 2013—
21
(i) for the security category
22
$607,000,000,000 in budget authority; and
23
(ii) for the nonsecurity category
24
$440,000,000,000 in budget authority.

Basicly the security doesnt get cut and anything that the little people need does.

Someone wants to keep their fat military contracts. Vote buying at its finest.

Fri, 07/29/2011 - 14:17 | 1505792 Gohn Galt
Gohn Galt's picture

He really is a boner.

My quick notes, any one who has ever been on aid from the Government look out, there is a lot of pork to shake down the poor and old.

p { margin-bottom: 0.08in; }

Budget Control Act 2011

SSI Redeterminations

IRS Tax Enforcement

Health Care Fraud and Abuse

Children's Health Insurance Program (CHIP)

Unemployment Insurance – Improper Payment Reviews

Lower Uniform Percentage Reduction

Auctions of Spectrum and Spectrum Management (Incentive Auction Authority)

Unlicensed frequencies to be Auctioned

Spectrum Relocation Fund

Incentive Auctions to Repurpose certain Mobile Satellite Services Spectrum for Terrestrial Broadband Use.

Permanent Extension of Auction Authority.

Authority to Auction Licenses for Domestic Satellite Services.

Public Safety Trust Fund and Broadband Network.

Public Safety Research and Development.

Federal Infrastructure Sharing (if it is private and we need it, we'll use it)

Federal Pell Grant and Student Loan Program Changes, Termination of Authority to Make Interest Subsidized Loans to Graduate and Professional Students.

Farm Programs ?!@#$

Joint Select Committee on Deficit Reduction

Public Debt $16.9943 Trillion

phased spending increases to $10 Trillion a year by 2021

All money left over is the Treasury's

I know nobody reads this dribble and I understand why.

Fri, 07/29/2011 - 14:21 | 1505805 CrashisOptimistic
CrashisOptimistic's picture

I don't now how math works in your world, but if 606B rises to 607B in a world of 3% inflation (that equates to 18billion), that's a cut of 17 billion in real terms.

Grow up.

Fri, 07/29/2011 - 14:48 | 1505911 karzai_luver
karzai_luver's picture

close to your fascist boner , huh.............

 

bwhaaaaaaa

die off cut it 25% cut everything else 50%

 

get off the statist tit bitchesssssssssss

 

Fri, 07/29/2011 - 13:24 | 1505552 Greater Fool
Greater Fool's picture

Likely to pass given the inclusion, after much legislative wrangling, of the popular "free tacos" amendment.

Fri, 07/29/2011 - 13:25 | 1505559 youngandhealthy
youngandhealthy's picture

Balanced Budget (from Wikipedia):

 

The public perception of balanced budget is when there is neither a budget deficit or a budget surplus – when revenues equal expenditure ("the accounts balance") – particularly by a government. More generally, it refers to when there is no deficit, but possibly a surplus. However a different definition often used by governments is setting the tax so high that if it were any higher a tax revenue shortfall, rather than gain, would be predicted.

 

Is that what the Reps are discussing? flip-flop, flip-flop, flip-flop...... 

Fri, 07/29/2011 - 13:27 | 1505567 I am a Man I am...
I am a Man I am Forty's picture

raises debt ceiling to 16.994T, last sentence

Fri, 07/29/2011 - 13:28 | 1505570 corvettekenny
corvettekenny's picture

Am I misreading this, or does the final page authorize a $2.7 trillion debt limit increase??

Fri, 07/29/2011 - 13:30 | 1505577 YesWeKahn
YesWeKahn's picture

Tyler, any insight on why 20Yr treasury is up today?

Fri, 07/29/2011 - 13:32 | 1505587 AcidRastaHead
AcidRastaHead's picture

This is like rearranging the deck chairs on the Titanic.

Fri, 07/29/2011 - 13:35 | 1505613 jbuchal
jbuchal's picture

This is NOT the Boehner bill, this is the House version of the Reid bill, as one can confirm by carefully reading the source.

Fri, 07/29/2011 - 13:42 | 1505659 Lmo Mutton
Lmo Mutton's picture

I love the contradiction in the title.

"To cut spending, maintain existing commitments, and other purposes."

 

How do you cut spend AND maintain existing commitments??

 

Are the other purposes free?

Fri, 07/29/2011 - 13:46 | 1505667 Ovid Benelli
Ovid Benelli's picture

On page 28, it contains a provision restricting Congress from ever changing the law. Isn't that unconstitutional?

Fri, 07/29/2011 - 14:14 | 1505777 itsallajoke
itsallajoke's picture
The tree of Liberty needs to be watered from time to time with the blood of patriots and tyrants.
Thomas Jefferson - 3rd president of US (1743 - 1826)

Time to get watering..  Grab your pitchforks and rope folks.  This dog and pony show needs to be put down as it's gone rabid.

Fri, 07/29/2011 - 14:51 | 1505922 karzai_luver
karzai_luver's picture

it's going down , give it another year or so.

 

No reason to take on the enemy when he is killing himself.

 

 

Sat, 07/30/2011 - 09:20 | 1507547 snowball777
snowball777's picture

Not true. A dog will die from rabies eventually, but it's in your best interest to put it down sooner rather than play wait and see.

Fri, 07/29/2011 - 14:16 | 1505787 YHC-FTSE
YHC-FTSE's picture

For all the notions of fiscal responsibility, isn't it all about getting the upper hand in the 2012 election year? There might be 20 or so stalwarts sticking by their (teabag) principles, but the rest just want to be in the winning party next year. It looks like anything less than 2 trillion added on the debt ceiling mean the 2012 elections belong to the republicans and surely that's how it will be played as it has been all along? 

 

So, that makes them all whores, except maybe the 20 teabags who are adamant they will not vote to raise the debt no matter what. In America, prostitutes and idiots make the laws that only help the gangsters to get rich. 

Fri, 07/29/2011 - 16:49 | 1506402 Buck Johnson
Buck Johnson's picture

This is getting crazy, truly it is.

Fri, 07/29/2011 - 20:37 | 1506944 nmewn
nmewn's picture

Uhhh, not only no, but hell no!

HR 2693 IH TITLE IV—PUBLIC DEBT 1 SEC. 401. PUBLIC DEBT. 2 Subsection (b) of section 3101 of title 31, United 3 States Code, is amended by striking the dollar limitation 4 contained in that subsection and inserting 5 ‘‘$16,994,000,000,000’’.
Sat, 07/30/2011 - 09:19 | 1507545 snowball777
snowball777's picture

If you made a word cloud of this tripe the biggest one would be ADJUSTMENT.

THIS is why the TeaPotDomeExpress III came to town?!

LOL

Sat, 07/30/2011 - 13:41 | 1507909 falak pema
falak pema's picture

the republicans are in knots, the democrats are in dots and the country is in shreds; apart from that its a week end.

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