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Latest In The Debt Ceiling Crisis: Reid To Offer $2.5 Trillion In Deficit Reductions And No Tax Increases

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Sun, 07/24/2011 - 16:57 | 1488393 Mr Lennon Hendrix
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Sun, 07/24/2011 - 17:00 | 1488408 baby_BLYTHE
baby_BLYTHE's picture

Just not for Wallstreet.

The clever is only meant for the necks of the middle-class.

Sun, 07/24/2011 - 17:04 | 1488426 Conrad Murray
Conrad Murray's picture

That's a cleaver description.

Sun, 07/24/2011 - 17:41 | 1488583 AldousHuxley
AldousHuxley's picture

School House Rocks - Tyrannosaurus Debt (from SchoolHouse Rock makers of How a Bill becomes a law)





Pirates and Emperors (from SchoolHouse Rock makers of How a Bill becomes a law)


Sun, 07/24/2011 - 18:34 | 1488835 FEDbuster
FEDbuster's picture

T-bonds will be junk status in less than ten years, so does it really matter?  Stock up on bullion, after you have enough beans and bullets.

Sun, 07/24/2011 - 17:40 | 1488576 ISEEIT
ISEEIT's picture

Funny. But give the lady a break.

Sun, 07/24/2011 - 17:14 | 1488469 cosmictrainwreck
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there ya are.... did ya have a good B'day (so far)?

Sun, 07/24/2011 - 18:46 | 1488902 baby_BLYTHE
baby_BLYTHE's picture

thx, yeah its been pretty great (minus the hangover from last night). Friends threw me a surprise party. 

Going back out again tonight. Hopefully the weather holds out.

Sun, 07/24/2011 - 18:54 | 1488950 cosmictrainwreck
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atta girl......"party like it's 1999" lulz

Sun, 07/24/2011 - 17:46 | 1488598 takinthehighway
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Happy birthday!

Sun, 07/24/2011 - 17:05 | 1488433 EnglishMajor
EnglishMajor's picture

Mr. Blutarsky...A,A,A,-

Sun, 07/24/2011 - 17:27 | 1488533 dbTX
dbTX's picture

This can looks abused 

Sun, 07/24/2011 - 17:16 | 1488483 rajat_bhatia
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only D.C. could kick the can on voting to kick the can

Sun, 07/24/2011 - 17:49 | 1488606 A Nanny Moose
A Nanny Moose's picture

+1 Broken Foot

Sun, 07/24/2011 - 17:18 | 1488491 1100-TACTICAL-12
1100-TACTICAL-12's picture

same'ol shit...

Sun, 07/24/2011 - 17:27 | 1488534 fwiw
fwiw's picture

Same old shit but with different gravy!

Mon, 07/25/2011 - 08:17 | 1490116 Mesquite
Mesquite's picture

....thoughts of: Dinosaurs thrashing around in the tar pits... 

Mon, 07/25/2011 - 08:18 | 1490120 MonsterBox
MonsterBox's picture

another harry reid blowjob

Sun, 07/24/2011 - 17:51 | 1488617 arkady.darella
arkady.darella's picture

no worries, there's always a fail safe: https://www.nytimes.com/2011/07/25/us/politics/25legal.html?_r=1&hp, 14th ammendment allows the president to unilaterally raise the debt ceiling... apparently.

Sun, 07/24/2011 - 16:58 | 1488395 SilverIsKing
SilverIsKing's picture

Haven't we been here before?

This place looks mighty familiar.

Sun, 07/24/2011 - 17:00 | 1488407 HungrySeagull
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Sun, 07/24/2011 - 17:03 | 1488421 apberusdisvet
apberusdisvet's picture

good observation

Sun, 07/24/2011 - 17:28 | 1488538 Manzilla
Manzilla's picture

It's not like that would do a damn thing. They would figure out a way around it. That's just a GOP gimmick like all these ridiculous pledges.

Sun, 07/24/2011 - 17:51 | 1488607 knukles
knukles's picture

No Balanced Budget Ammendment.

But Wait, There's more.
A temporary increase in the Debt Cieling, so the drama continues unabated! Lucky us!
But wait!  If you call now....
A guaranteed downgrade from the NRSRO's!
The drama continues!  Next week, same time, same station....
The spending cuts take place later.
... like Fucking Never.  More Drama, Circuses Galore! 
Get that Hegelian Dialect Up To Fucking Light Speed.
Issue that debt! 
No slowdown in Business As Normal!
Ah!  Platitudes and congratulations abound whilst the public dims the evil eye.
But Wait!  There's even better yet to be seen!
Not A Fucking Thing Has Been Solved!

In fact, this appears to be what Harry's agreed to....
What about His Highness?

What about the Republicans?

What about the hard core, cuts equal ceiling increase.... not next week, but now?

Got Loose Ends?


Sun, 07/24/2011 - 17:02 | 1488418 JPM Hater001
JPM Hater001's picture

Amazing.  Please please please speaker boehner...Ryan and Cantor...make it a real and deep cut or dont bother coming home.

Sun, 07/24/2011 - 17:03 | 1488419 CrashisOptimistic
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What they are doing is trying to manufacture illusory cuts that occur no time soon, extend the Bush tax cuts and the SS tax cuts, and hope desperately that having avoided fiscal contraction, 9.2% doesn't become 29.2%

Sun, 07/24/2011 - 17:05 | 1488425 dwdollar
dwdollar's picture

Print on

Sun, 07/24/2011 - 17:05 | 1488427 Caviar Emptor
Caviar Emptor's picture

These guys are no longer surprising: both parties want more spending, and bigger government. 

Sun, 07/24/2011 - 20:43 | 1489229 Ident 7777 economy
Ident 7777 economy's picture

Caviar Emptor (Total Score:1)  scribes:

These guys are no longer surprising: both parties want more spending, and bigger government.

- - - - - - - - - - - - - - - - - - - - - - - -

 THEN why hasn't Boehner simply ROLLED OVER by now?

You comment does not compute; it is illogical.



Sun, 07/24/2011 - 17:09 | 1488432 cossack55
cossack55's picture

Whats up with $2.5 T? Why not go whole hog. $10 T anyway, if you want to get past next elections.  Damn pikers.


Wow. Magical post. Spent at least 55 seconds in the ether.  Skip the follow on.

Sun, 07/24/2011 - 17:06 | 1488436 Atomizer
Atomizer's picture

Just buying enought time to tell J6P about Basel III. Hahahaha

Sun, 07/24/2011 - 17:13 | 1488462 Yes_Questions
Yes_Questions's picture

J6P being told about Basel III?

"So, you see Joe, the bank cannot accommodate your withdrawal right now, but please try again later.  Have a lollipop."


Sun, 07/24/2011 - 17:07 | 1488437 duncecap rack
duncecap rack's picture

Sounds like the rating agencies will love it.

Sun, 07/24/2011 - 17:08 | 1488438 AndrewJackson
AndrewJackson's picture

These cuts keep getting funnier and funnier. Just 10 years ago we would talk about how in 3,5, or 10 years the budget would be balanced. We are so far off the cliff, that now all we can do is say that spending will not be increased cumulatively quite as much as expected. However, given how much tptb have perfected can kicking, I wouldn't be surprised if we are at the same place 5 years later with just 10 trillion more in debt.

Sun, 07/24/2011 - 17:08 | 1488439 foxmuldar
foxmuldar's picture

Promises of cutting spending later while continuing to raise the debt ceiling today sounds like Wimpy asking for a hamburger today with a promise of paying on Tuesday. We know Wimpy never does pay. Same shit keeps happening if they allow this deal to go through. And of course this leave Obama coming out smelling like a rose instead of the pile of shit he really is.

Can't wait to read tomorrow's headlines. Obama saves the country. What a crock.

Sun, 07/24/2011 - 17:20 | 1488501 franzpick
franzpick's picture

I expect some exogenouse financial event will derail both the euro and american debt bailout charades, but if financial collapse leads to rioting and the stores are looted, I hope owebama gets all the credit, and no, I will not listen to his rhetorical pabulum on how is wasn't his fault.

I hope he is digging his own political grave.

Sun, 07/24/2011 - 17:21 | 1488503 Moe Howard
Moe Howard's picture

Harry "Wimpy" Reid. Sounds about right. The voice sounds the same.

Sun, 07/24/2011 - 17:08 | 1488440 cossack55
cossack55's picture

Whats up with the $2.5 T? Whole hog, baby. $10 T or STFU. Got to get past next elections.

Sun, 07/24/2011 - 17:41 | 1488441 Atomizer
Atomizer's picture

Duplicate post deleted

Sun, 07/24/2011 - 17:10 | 1488442 Cognitive Dissonance
Cognitive Dissonance's picture

I'll see your $2.5 Trillion in deficit reductions and raise your no tax increases by $1 Trillion. Whacha got Pilgrim?


Sun, 07/24/2011 - 17:14 | 1488470 Atomizer
Sun, 07/24/2011 - 17:22 | 1488508 Fish Gone Bad
Fish Gone Bad's picture

My wife has Candy Land in absolutely mint condition.  Speaking of Candy Land, did Japan ever fix those busted nukes?  Nope.

Sun, 07/24/2011 - 17:17 | 1488484 Hulk
Hulk's picture

I got a baby's arm holding an apple here...

Sun, 07/24/2011 - 17:22 | 1488507 Yes_Questions
Yes_Questions's picture

My wife's posting photos again.  I needed the money..

Sun, 07/24/2011 - 17:38 | 1488570 Pool Shark
Pool Shark's picture

I got a heated, kidney-shaped pool...

Sun, 07/24/2011 - 17:56 | 1488631 knukles
knukles's picture

That's nothin'.  My alcoholic mother pools her kidneys twice a week in heated dialysis.

Sun, 07/24/2011 - 17:54 | 1488625 TaxSlave
Sun, 07/24/2011 - 17:09 | 1488445 mcguire
mcguire's picture

crazy!!! time to buy more gold... 

on the other hand, you cant eat gold...


or can you >> http://finance.yahoo.com/family-home/article/113164/5-outrageously-expen...


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