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With Just One Day Left To Avoid Government Shutdown, Here Is Goldman's Take On What Will Happen Tonight In DC
Today at some point, the House votes (again) on a continuing resolution to fund government past Sept. 30. Will it fail to reach an agreement as it did yesterday, with just a day before yet another break which will likely mean no more votes until the actual shutdown? Goldman explains what to expect from the events this afternoon/evening.
From Goldman's Alec Phillips
Yesterday’s failed vote in the House has led to headlines raising the possibility of a government shutdown, but this seems unlikely. The new fiscal year starts Oct. 1 and Congress has yet to enact any of the 12 annual appropriations bills that provide funding for the various departments and agencies of the federal government. Congress typically misses the deadline, and normally passes a “continuing resolution” to provide temporary funding until the longer-term legislation has been enacted. Yesterday, the House was expected to pass its continuing resolution to fund operations through Nov. 18. Attached to this was $3.6bn in disaster aid to FEMA, partly offset with a $1bn cut to a program that subsidizes advanced vehicle technology manufacturing. That bill was defeated unexpectedly yesterday afternoon (all but 6 Democrats voted against it, as did 48 Republicans). Today, the House is expected to try again to pass temporary funding. It isn’t yet known whether House leaders will try to increase support among Republicans (by trimming the overall amount of spending in the bill) or Democrats (by dropping or changing the cuts used to offset the cost of disaster aid). The Senate has yet to consider the bill, but is unlikely to go along with a lower spending level, and is likely to try to add its own version of disaster assistance (Sen. Majority Leader Reid may offer an amendment to provide $6.9bn to FEMA).
Although the risk of a government shutdown has risen slightly as a result of these events, it is still low; the perceived political cost of a shutdown now is much higher than it was back in April, and the current disagreement is only over a few billion dollars. Moreover, there is still over a week until the deadline, but congressional recess is scheduled to start tomorrow, potentially providing motivation to get a deal done well ahead of the deadline. But this episode reinforces the notion that political sentiment around the super committee could worsen ahead of its November 23 deadline.
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yawn
The Squid states the obvious. Of course there will be no shutdown.
Indeed, what Congressman wants to answer the knock at his office door and be greeted by a grown man pleading in tears for his vote ?
http://images.sodahead.com/polls/001813267/3130628312_BoehnerJohnCrying_...
Extend and pretend twenty years out this time.
What's a gazillion or two?
par
If the super-committee can't get anything done, then what next? A hyper-committee? Chuck Norris?
Goodbye "Strong USD"...
Fuckin children.
yuck, sicko!!!
I think he's referring to congress, as in "they are children". Does that help?
I'm still a little unclear. the act of fucking congress is sick. and congress == children. so, fucking congressional children == sick!
Whats the best part about bonking twenty six year olds?
THERES 20 OF 'EM!
Seriously dude. Seek help.
Society rippin' itself apart here!
Society rippin' itself apart here! Amongst other things.
Won't somebody please think of consenting age adults?
Society? Is there any left? Good Lord - take a stroll to your next pub:
Children as young as eight-years-old cage-fighting to a sell-out crowd in a labour club in Preston has been caught on camera.More fights are already being planned. A few weeks ago: Twenty-four men believed to have been held as slaves were rescued Sunday following a dawn raid on a caravan site in central England...
I mean WTF?!
England is in the shitter. Went to school there for a semester. The people pray to the government. The core is rotten.
What do you expect to happen once the Fox Hunting was outlawed? Secondly; it is too complicated to employ folk and too costly, so again, why wonder at the resulting slavery? We should bring back midget tossing, er throwing and Granny fights.
We don't have to bring back anything more than rational thought and apply it to the present.
(opens eyes, perks up) "Granny Fights"??
i'd love to fox hunt
i'd start with neil cavuto as a warmup and then set sights on bill o'reilly
I'd catch me one of those Megans or Susans...Foxes that is....
I would donate to them if they all just went away and never came back. Hell I might even vote for something like that!
pods
The government sure isn't doing well these days. Kinda messing with the people... constantly.
Tea Baggers witholding food and water for disater victims unless they get more cuts to budget?
Great job guys! YOu really are showing the world just how Christian this country is. LOL
What budget? Get real, wake up man. You better be planning YOURSELF for the disaster, and not depending on broke-dick FEMA clowns.
Eh?
"Sen. Majority Leader Reid may offer an amendment to provide $6.9bn to FEMA"
I'm confused, why does this squid even mention it?
What is your plan ?
My plan is to take care of our people first and then deal with the bullshit created by both Republicans and Democrats. Holding disaster victims hostage is pathetic and anyone engaging in witholding food and water to American citizens to score cheap political points does not deserve to work in Washignton and most certainly does not deserve to call themselves an American. They are barbarians.
Stick to your guns on this one - good on ya.
I see no laws that would prevent you from doing exactly that.
pods
You mean, as if FEMA was the only, or even the most efficient way to help disaster victims? Get real.
Who said FEMA was:
Go back to Strawman 101.
Without the federal government, people won't have food and water? You are one dumb son of a bitch
See reply to prior logician.
Hey Rexie, see the original post equating withholding food and water with this no vote.
pods
Where did anyone reply to that?
Was the language trolling for TPers? Yes. Was the point debatable? Yes.
So why no debate?
Well I won't debate the circus although I did reply as to a larger point. Where is the moral justification for putting a gun to one persons head and demanding they hand money over to another?
As to the actual bill, who the hell cares? It is not like when this vote came all the food trucks would have rolled in.
The FACT that we have this silly debate is indicative of a MUCH larger problem:
The fact we BELIEVE that the federal goverment is responsible for our well-being.
pods
It's what Jesus would do.
You didn't read who voted against it did you?
It was the Democrats you moron.
Democraps, Republiclowns...forget it all, write them off, and just prepare yourself and family.
Sorry, but forced redistribution of other's wealth for ANY reason is not Christian nor Constitutional.
It is Legalized Plunder.
pods
Only common man follows common law.
So says the guy using a medium created by the government with government funds...LOL how was that ride to work today on the paved road, and hey you didn't get your car stolen from your driveway last night but of course none of those things fit into your predetermined view of how the world works so screw the socialist!
Moron, there is a very easy way to get away from the "forced wealth distribution" go to Somalia, there is no forced wealth distribution there.
I am sure a man of your charachter will flourish in the free open markets and society...
Good luck, send a smoke signal and let us all know how that worked out for you pal.
You are not a socialist, you are a statist. Statists are the enemy of freedom. You guys will never quit making my life more miserable by trying to make my life more pleasant.
So a network would never have been created if not for the US gov? And just because the current network had the origins in some special project I have to bow down to every whim that you statists fancy?
Somalia? No thanks. I will stay here and fight to toss out the statists, who blindly follow our corporate government.
Cars are not stolen due to government? You truly are delusional. It is a good thing that my government rep locked the doors last night.
How about leave me alone to live as I choose?
And remember, you cannot complain when Legalized Plunder sets its sights on you.
pods
Eh dudes, relax!
All taxes are one part of a "forced redistribution", at least the first part.
pods, would you still be against redistribution if the gov would ask you 20% of your income and redistribute 1/20th of it?
This would be 20% statist and 1% communist, or something. My point is it's all matter of degree - isn't it?
I see any tax on "income" when it means wages as being tyrannical. The same with renting "our" property in the form of property taxes.
I see no reason why our small, decentralized gov could not operate on tariffs or a voluntary consumption tax.
My wages are my labor. To tax that is to tell me what the value of my labor is. When an entity has the power to do that, you are not free. Just because you get to keep some (or even most) of it is of no importance, the importance is that THEY are making the determination.
If there was a tax man at every place of employment who the employer handed your wages to before the tax man hands it to you, would you call it freedom?
Because that is exactly the system we have.
pods
So you are not going to leave the United States which is tyrannical and move to a free society like Somalia?
Why not. I mean you just said this country is horrible, and you are a slave.
I know why, you are a coward and can not in fact survive in a society that does not have everything put in place to protect you.
Please tell me more about how your ideals are subverted through the tyranny of government from the comfort of your home, electrified with energy delivered through a vast network of transmission lines, surrounded by all your fancy stuff that no one steals from you because society pays it forward for ignorant grunts like yourself.
Seriously move out of this country we don't need leaches like you ruining this country. Go fend for yourself tough guy.
And remember to send that smoke signal letting us how it all went down, pal.
Well I will stay here until a time of MY choosing there tough guy. Unless of course another part of your little plan means getting rid of us undesirables?
And why is it that statists like you always make the assumption that everything that society has ever achieved was only due to the acts of government?
And can you answer the simple question:
If all of these wonderful programs put forth by you statists are so damn wonderful, why do you have to put a gun to people's heads in order for them to comply?
Thanks for the psycho-analysis. Do you take FRNs or will my universal health care card pay for it?
The great thing is that the system will collapse. When enough realize how debt-backed money works and refuse to take on debt, the system will implode.
I instruct more and more about this everyday. And if you look at credit aggregates on the St Louis FEDs website, that is exactly what is happening. (and no, the FED is not the government)
pods
Why don't you get your socialist cocksucking face to North Korea or Cuba where everything will be taken care of for you since you are too fucking retarded to take care of yourself
The democraps voted against the budget across the board you stupid son of a cumbucket
Why don't you move to the EU CaptShitNMyPants? The people that founded this country shot twats like you for the simple fact they didn't want people taking their money and doing what they wanted with it and not listening to their grievenances. Shove your statist views and try pushing that on me face to face once you keyboard Commando. Huffpo and Koz are missing another idiot...
Typical responses from the Mom's basement, 101st fighting keyboarders, retard brigade.
You seem lost. Want a map, or do you know how to find the log out link?
It's useless trying to get the libertarian tea baggers to understand brother. They are unable to see any benefit to government at all besides the military and upholding rule of law. Don't worry, they'll be getting their way soon when the government doesn't have money to do shit anymore and everyone is forced to fend for themselves. Then we'll be living in a utopian, libertarian wonderland eh? I'll be curious what these people think about society in 2 to 5 years when the holy free market is the only support people have.
You teabaggers can't seem to see the difference between giving trillions of dollars to the banksters and spending billions on food stamps, social sec. ect. Its not the same thing. We'll see what happens to the rule of law when you literally have millions in this country starving to death and local governments struggling to find enough money for basic necessities. This crisis was not caused by too much regulation. It was caused by having no control over our own money supply and not enforcing the rule of law when the banksters committed mass fraud. A market without regulations is not a free market. It is a market where those who have the most capital make the rules. Its gonna be the guilded age all over again.
That being said there's a lot more that socialists and libertarians can agree on than most people think. I happen to love Ron Pauls monentary policy but I still could never vote for him. People seem to be forgetting their history and turning their backs on the hard-won lessons and progress that our ancestors made over the past hundreds of years.
It is not the same thing in YOUR mind, but it is exactly the same thing in principle.
It is taking something from one group for the perceived benefit of another.
Bastiat coined the term "legalized plunder."
Please don't speak of ancestors. Because they fought against this exact sort of tyranny.
How is it most of you government supporters can on the one hand rally against big corporations, while at the same time see the benevolence in this government?
pods
Green, pods. Gheesh, some people not only don't get it, but refuse. The blind *won't* see. Dying of thirst but won't take the proffered drink. That's the difference between ignorance and stupidity. BTW, my road ain't paved, and we plow off the snow ourselves as a neighborhood - and I created my own job, which requires no commuting. Works for us. And we had networks before internet, at least for the geeks -- the phone system worked fine.
My cars aren't stolen because it's a great way to catch a .50 slug coming from me, and people don't like the idea. But the real reason is that in a rural setting, I have essentially all friends in the neighborhood, and I am a value to the local society, owning the machine shop that helps all the farmers survive -- they want me here for them.
Everyone here contributes things to the common good. A neighbor has the wood shop to die for - and when he needs tools, I make them for him. When I need super excellent woodworking, he does it for me. Simple, all barter, it works when you've tossed all the human turds out of the locality, which happens naturally in places like this. If you're a loser around here, no one helps you and you might as well move on.
You want to hunt my land or for me to fix up your gun -- I get meat. It goes on endlessly...
Only a consume-only loser like that guy could spout that crap. I'd guess he's never made anything himself and considers it some sort of magic.
Hey, I can sew, cook, cut hair, build things and am an ace at first aid. Need any new neighbors? Sounds like my kind of community!
Oh, am also good at animal husbandry. What state are you in? Just curious...
From your previous posts I have admired your setup in the mountains. I drive through that general area a couple times a year (the 66 to 81 corridor). Beautiful country in those mountains.
A setup that many (myself included) would envy. Most envious is the fact that you can work for yourself and do well in a rural setting.
I cannot see why people think so poorly of others that they think charity will not help out with disasters. Instead they put their trust in a giant behemoth of FEMA.
We had tornadoes come through our area (NC) this spring. Unusual and they tore up a good many houses and killed many. Some houses around us were condemned. One family that had little money was basically homeless. A mention of it at our church (like 50 people max) put the family up for a couple weeks in a hotel at $100 a night, found them a rental, furniture and even transportation to a job.
Charity is the most efficient the more local it is. That is where my charity money goes.
If I hunted your land you would get some choice butterflied loins, as we cut up our own. Nothing but top notch meat, anything less goes to home made dog food. Since we cut up our own, we only take sure shots, so nothing is wasted. :)
pods
Except when a natural disaster is so destructive that it overwhelms the ability of charities to be able to handle. What then? Do you feel like you have any responsibilities to society outside of your local bubble? They never did anything for you right?
How is a natural disaster any different that the poor schlep in Topeka who's house burned down due to a lightning strike? Degree? Certainly not principle.
If you can give away money taken from one group and give it to another for ANY reason then can give away money other's money for all reasons.
Yeah, it sucks when bad things happen. Happens all the time. Everywhere. To really good people. And yes I do feel a responsibility. Thus I give in whatever way I can.
Following your logic I see no reason why we should not have more of our labor taken to feed the world, or do they not count because of where they were born?
Is it only Amerikans that we are responsible for helping? The possibilities are endless. And when you start down that road there is nothing to stop full equality of outcomes.
Of course those outcomes will be decided by others.
Government is force and expediency. Not charity. You cannot be charitable with what you do not have, and government has nothing that was not taken first.
pods
There is no rule of law in Somalia, not an absence of forced wealth distribution. Big difference "moron".
TO COMPEL A MAN TO SUBSIDIZE WITH HIS TAXES THE PROPAGATION OF IDEAS WHICH HE DISBELIEVES OR ABHORS IS SINFUL AND TYRANNICAL - Thomas Jefferson
I place economy among the first and most important virtues, and public debt as the greatest of dangers to be feared. To preserve our independence, we must not let our rulers load us with perpetual debt. If we run into such debts, we must be taxed in our meat and drink, in our necessities and in our comforts, in our labor and in our amusements. If we can prevent the government from wasting the labor of the people, under the pretense of caring for them, they will be happy.
- Thomas Jefferson
That buzzing sound you hear is Jefferson spinning in his grave.
Capt - the Dems have not put forth a budget. We are broke. It's always some disaster relief, war funding, emergency this or that which is stuck on to a CR to get it through. Time to call BS on that strategy.
Capt dumbass is just whining because his welfare check might not be in the mail next week
If you are dependent on the Federal Government for food and water, time to think about becoming a responsible adult.
hey, cappy - i wanted you to know i signed in *just* to trash your bullshit. go sell your "DNC payin' me $6 an HOUR to write internet comments! best job i EVER had!!" jive someplace where they're buying it. better yet, do something useful: see if they'll let you have your old sorting-through-garbage job back.
It was the democraps who voted against the budget you stupid cocksucking maggot
you must have missed the part about ALL of the democrats voting against it. Typical.
Lefty Liberal Blindness...it's contagious!(unfortunately)
Bullshit!
To the contrary... it's BEARSHIT.
I'm trying to buy the volatility index for vituperate voices. Get long that!
Go ahead and shut the Goobermint down....theyre all such total fails it can only be a positive for the rest of us!
But they've never missed a payment and I like gubermint cheese.
U.S. Govt needs to announce a plan called 'The Big Fix' where they put millions back to work fixing, improving, rebuilding the nations bridges, roads, dams, electrical grid, etc.
At least the money would go to the good of everyone!
Here's an arcane thought. Why just not take it in the first place?
pods
Stop it. You're confusing the simple with simplicity. It's simply too simple for the simpletons to grasp...
Sounds like the myth of shovel ready jobs
now is not the trimwe to save borrow borrow borrow
borrow to buy precious metals... 0%APR for 24 months from major banks? what!?
All of your bases are belong to us!
set up us the bomb!
http://www.youtube.com/watch?v=qItugh-fFgg
even Camp Snoopy!?
Yo!
Noone found the typo - it should read: congressional repression of course!
I get it...this is the part where they have to stay overnight and work "hard" hours to give themselves permission to piss more of my tax dollars away?
This is also where they vote themselves another raise because of all that "hard" work...Ok, got it!
Democrats and Tea Partyers voting together, what the hell is this world comming too.
The public is the gatekeeper and teh bernak is the key-master
besides printing Food Stamps, Bomb other countries and fearmongering the nation, they don't produce anything usefull
so really...who cares if they shut down
they'll all be in Denver on the 27th anyways, waiting out the appocalypse....
Yea basically the only function of the Gooberment now is to print food stamps and unemployment checks for the masses to try to stave off the nation erupting into Zombie riots. I think theyre about at the point where they say 'Screw it, we're heading to our underground bases'.
and they're doing a bang up job protecting our rights... ironically protecting the people's rights from the government itself (who ironically is us....)
Don't forget that they write lots of checks to cronies who donate enough money to the victors
Shut it down till January 2013.
Belgium tried that - it works!! ;)
Here's a novel idea... Shutdown the federal government permanently
The sky is falling........the sky is falling!
The sky may not be falling, but a Cat 5 Shiticane is blowing in thats for damn sure.
It's attached pretty well... I think this is just a rumor.
They will never allow another shutdown because they realize that once the people found out how good life was without government in the picture there would be no way to reconstitute it. No government is good government; gridlock is second best.
Both parties go here:
http://www.youtube.com/watch?v=enUo-1TjdEs
until then nothing changes
and replace it with
party a) PRO BIG GOV
party b) PRO LIBERTY
party c) Ralph Nader.
Wow, that was a nice link - and all too true. I'm having trouble figuring out how shutting down the feds would even be noticed out here in rural-land. I'm ok with the state gov as a much lesser evil.
Every time I see some kind of political debate, whether on forums or other channels, I can't help but think of how irrelevant the whole thing is.
Political parties don't matter. Your vote doesn't (and possibly never did) matter. Everything we are fed by the existing system about the sanctity of public involvement in politics is a ton of bullshit.
The only real power in this country is having enough money to influence politicians. Like Gordon Gekko said in "Wall Street" -- "If you're not inside, you're outside, okay pal?"
We're all outside, and any points to be made about anything political is just so much spit in an ocean of paid-for policy.
so they dont know how much money the government really needs
Congress has failed to pass a budget since 2009 (we are entering 2012) and has continued to "govern" through the passage of "continuing spending resolutions." This "gridlock" we are experiencing has been around for at least two years now, with partisan wrangling and fighting taking the place of honest discorse with the aim of achieving a resolution that can be passed.
How the hell they can claim to govern when they can't even pass a budget should bring hue and cry from every newspaper and media outlet about the ineptitude of our "elected" leaders. No one, R or D should get a pass on this. The President is at least doing his part, he presented a budget to Congress, which even though it went nowhere, did at least fulfill his obligation. Congress on the other hand, has failed to pass a yearly budget for what will be 3 years as of September 30th.
Instead, we are treated to the sideshows of unemployment, stock market, european markets, natural disasters and Fed bumbling to keep us occupied while the value of that fiat instrument continues to fall, Inflation runs around like a chicken with it's head cut off (denied of course by the officaldom) and more than a quarter of all the population is either on food stamps, unemployment or both.
We need to stop relying on the government to nursemaid us through our lives. No one said you had to have riches, a mansion, seven cars and servants. (Okay, I'd like to have them, but I don't). Basic needs are food (PB&J still works fine), Shelter and Clothing. But if you don't want to work, don't expect handouts. You want handouts, don't complain about the quality, quantity or frequency, you get what's left over, not what's available.
Three years, no budget, no civilized discourse and no direction. With darned few exceptions, Vote 'em Out, Vote 'em all out.
"We need to stop relying on the government to nursemaid us through our lives."
Some of us never have relied on them, seeing the scam for what it is, and preferring to keep some sense of self-worth. But they keep insisting they are the only way, and this is not a party-differentiating thing.
Anti-incumbent 100%, not that it will fix anything, but it will send the message we see through the crap.
The way it really goes...."Why quibble about the detals boys, we got a recess next week. Just pass it!"
Anyone drive the streets of downtown chicago and note the number of "fema" workers directing traffic? When the lights turn green they yell at you to go, when it's red they hold up their hand and tell you to stop. What, we're hiring traffic lights now?
About as useful as the contstuction worker holding a sign that says "slow" as you drive past the 8 guys standing around watching the 9th dig a hole.
Thats shovel-ready in a nutshell: paying someone $10 an hour to replace a bucket of sand.
If it does shut down prepare for another credit rating downgrade.
Do you really believe if there was a disaster that FEMA wouldn't show up and dole out whats needed? Voted on or not, get real. Hell, why not let the freeloaders who don't pay their mortgages live in a FEMA trailer we didn't use in Katrina