With Just One Day Left To Avoid Government Shutdown, Here Is Goldman's Take On What Will Happen Tonight In DC

Tyler Durden's picture

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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Don Birnam's picture

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 ? 


espirit's picture

Extend and pretend twenty years out this time.

What's a gazillion or two?

Greater Fool's picture

If the super-committee can't get anything done, then what next? A hyper-committee? Chuck Norris?

Frog-And-Toad's picture

Goodbye "Strong USD"...

B-rock's picture

Fuckin children.

Socratic Dog's picture

I think he's referring to congress, as in "they are children".  Does that help?

BrocilyBeef's picture

I'm still a little unclear. the act of fucking congress is sick. and congress == children. so, fucking congressional children == sick!

Andy_Jackson_Jihad's picture

Whats the best part about bonking twenty six year olds?  


GeneMarchbanks's picture

Seriously dude. Seek help.

BrocilyBeef's picture

Society rippin' itself apart here!

GeneMarchbanks's picture

Society rippin' itself apart here! Amongst other things.

BrocilyBeef's picture

Won't somebody please think of consenting age adults?

PY-129-20's picture

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?!

BrocilyBeef's picture

England is in the shitter. Went to school there for a semester. The people pray to the government. The core is rotten.

Herman Strandschnecke's picture

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.

BrocilyBeef's picture

We don't have to bring back anything more than rational thought and apply it to the present.

vato poco's picture

(opens eyes, perks up) "Granny Fights"??

stacking12321's picture

i'd love to fox hunt

i'd start with neil cavuto as a warmup and then set sights on bill o'reilly

HoardeBilly's picture

I'd catch me one of those Megans or Susans...Foxes that is....

pods's picture

I would donate to them if they all just went away and never came back.  Hell I might even vote for something like that!


BrocilyBeef's picture

The government sure isn't doing well these days. Kinda messing with the people... constantly.

CaptFufflePants's picture

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

SheepDog-One's picture

What budget? Get real, wake up man. You better be planning YOURSELF for the disaster, and not depending on broke-dick FEMA clowns.

Ghordius's picture


"Sen. Majority Leader Reid may offer an amendment to provide $6.9bn to FEMA"

I'm confused, why does this squid even mention it?

CaptFufflePants's picture

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.

Spastica Rex's picture

Stick to your guns on this one - good on ya.

pods's picture

I see no laws that would prevent you from doing exactly that.


DCFusor's picture

You mean, as if FEMA was the only, or even the most efficient way to help disaster victims?  Get real.

Spastica Rex's picture

Who said FEMA was:

  • The only way to help disaster victims?
  • The best way to help disaster victims?

Go back to Strawman 101.

sun tzu's picture

Without the federal government, people won't have food and water? You are one dumb son of a bitch

Spastica Rex's picture

See reply to prior logician.

pods's picture

Hey Rexie, see the original post equating withholding food and water with this no vote.


Spastica Rex's picture

"Tea Baggers witholding food and water for disater victims unless they get more cuts to budget?"

Where did anyone reply to that?

Was the language trolling for TPers? Yes. Was the point debatable? Yes. 

So why no debate?

pods's picture

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.



JLee2027's picture

You didn't read who voted against it did you?

It was the Democrats you moron.

SheepDog-One's picture

Democraps, Republiclowns...forget it all, write them off, and just prepare yourself and family. 

pods's picture

Sorry, but forced redistribution of other's wealth for ANY reason is not Christian nor Constitutional.

It is Legalized Plunder.


BrocilyBeef's picture

Only common man follows common law.

CaptFufflePants's picture

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.

pods's picture

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.


Ghordius's picture

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?

pods's picture

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.


CaptFufflePants's picture

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.

pods's picture

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)


sun tzu's picture

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