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Obama Threatens Veto Of Boehner Plan
Just because we needed some fireworks, here is Obama, providing the catalyst. Watch for a very indignant Boehner TV appearance in T minus 5...4...3... And yes, this will not help the consensus-building effort.
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Goooood, your hate has made you powerful young Obama.
Only a master of evil, Odarth.
If you strike down the deal, it will become more powerful than you can imagine.
For some reason, the MSM seems to think that Tea Party members are Republicans. They are not. That said, anything that can be destroyed, can be controlled. The Tea Party may very well bring this president, the Democrats, and the Republicans to their knees.
There is zero chance of that happening. That is the same type of miscalculation that Norwegian fellow made.
There's no other alternative. The two party system is about to do a face plant, and it should. It has utterly failed.
This is a joke, right? The two-party system is an appendage of the banks. As long as the banks stand, the two-party system stands.
Drink some coffee. Wake up.
The premise that there is a 2 party system is flawed. It's more likely there is one party with 2 distinct groups. The Progressive Party rules. If the gang of 535 (Senate and House) was in a room together and wore their colors with Progressives wearing purple, Progressive Repubs purple with a red stripe, Progressive Dems purple with a blue stripe, Repubs all red and Dems all blue, my bet is that the purples would number more than 400.
Now that premise explains a lot of why there is basically no difference between the Dems and Repubs and hasn't been for a long time. Perhaps the Tea Party has given some life to the spiritually dead weight in the Congress and, hopefully, to the country.
{what ever happened to that spell check thingy}
The broad platform of the Tea Party is what the Republicans used to stand for (before Reagan and Bush). They pretty much are Republicans.
Funny, that's my take as well. I don't belirvr the Tea Partyers are Republicans in the way the Media has made them out to be. Sure, some Repugs like Palin tried to waylay their message, but somehow I don't quite believe that they are a being given an honest airing.
From what I remember, they were formed in protest to the passage of TARP. Then the media went all waco on them.
Hmmmmm would that make Bernanke Emperor Palpatine? If you watch him speak its very similar to when palpatine becomes all snively before electrocuting Mace Windu.... So that must make Geithner Jar Jar Binks... LOLZ
Of what do you speak?
That was not in any of the THREE Star Wars films. I know cause I saw all THREE of them.
pods
George Lucas is proof that success leads to insanity.
Die, prequels, die.
Yeah, I saw all three too, but don't remember any of that stuff.
Best review of the prequels ever made: http://www.youtube.com/watch?v=FxKtZmQgxrI
(And one of the most hilarious/brilliant film reviews ever made, period.)
That RedLetterMedia guy is friggin hilarious.
He did a great takedown of Avatar as a propaganda film. Enlightening: the film tricks used to dick with the subconcious.
That was brilliant! Is his speech impediment real? If only he sounded like Patrick Stewart instead of a brain damaged Californian with a toothache, I could have recommended it to my friends in England.
Unfortunately, in order to get my younger cousin into the correct 3 movies, he insisted on watching the incorrect ones first - so he could watch them in 'order'... I advised against it... And to this day he tells me he should have listened ;-)
collapse
Is this the nuclear option? As in a false flag made to order financial crisis to cover up the already deepening depression?
Looking more and more like it every day from over here.
Never let a crisis go to waste!
If there is no crisis, make one!
No serious market reaction to all of this (e.g., 10 Yr Treasuries not over 3.25%, Dow not falling by 1,000 points) will be a large negative for BHO. He needs a bad market reaction to justify his yelling FIRE the last two weeks. Hence he needs to ratchet up some veto rattling (I actually thought he would of done that last night).
The guy is intellectually corrupt (understand - he is a politician). He proposes a budget with virtually no cuts over next 10 years (defeated 97-0 by Democrat controlled Senate), calls for a "clean" debt limit vote (which the House obliges but he never supports) and then changes tune one month ago saying it is important to reduce the deficit in connection with the debt limit vote. And then he lies by saying not raising the debt ceiliing is the equivalent to a default -- which is an absolute lie. Even without a debt ceiling increase, all interest will be paid on all US debt = no default.
Correct. I have been saying for weeks now...Obama wants a default. Oddly enough, so do I.
In the meantime, The Street is unanimous that there will be a deal, no default, and if a downgrade comes, no problem. Sheer lunacy. Also in the meantime, the plan to "buy the news" on some sort of deal...is already priced in to the upside...at least twice.
No wonder only 39% of laid off criminal syndicate Wall Street bankers passed the most recent CFA exam.
Brilliant!
Oh...and check today's volume. I think we might have a six month record for nonexistent equity buyers....as the market drifts upward, of course.
Well, it is almost 3PM.. Time for the PPT to steup in. Like inning 7 of a ball game, the good relief pitcher is here.
28% pass rate amongst americans, 85% pass rate for chinese....
just made it up, but its believable
Where’s the beef, I mean the volume?
This month’s been the slowest in the stock market in more than three years. Patrick O’Shaughnessy, a research analyst at Raymond James, says July will have the lowest average daily volume since December 2007.
Fewer big investors are buying stocks; waiting to see if the other shoe drops, i.e., a worsening job market, a fermenting European debt crisis, and a tea party budget impasse in Washington.
As one analysis puts it: "Low volume is worrisome because it can mean bigger price swings. When there are few buyers, for example, someone trying to sell a stock may be forced to keep lowering the price in hopes that someone will want it -- like a homeowner who can't find a buyer for a house."
Speaking of volume...there is one place where you can see it. Just check the Herculean effort going on to save the 50 day sma of Netflix. If ever there was an example of gross capital misallocation, and for the sake of saving a technical trading marker no less, this is it. Almost 14 million shares of a stock at $250-$260 per share. Give me a break. If the market was actually still a market, those fools would be taken out immediately.
I think the HFT has finally shown itself as a helmet wearing imbecile...more so than some mathematical computer wizard.
Good grief.
Obama wants a default. Oddly enough, so do I.
As do I, though I suspect you and I for different reasons as O'Bamba.
Barry thinks this is the epic conclusion of his Cloward-Piven play - crash the largest economy on the planet and remake this cesspool of racism and inequity into paradise as defined by Cuba and the DPRK.
Me? I'm thinking push the f---ing Reset button, already.
Such a crisis would make for a very good excuse for QE3. Inflation is but a small price to pay for stability.
there is nothing 'stable' about people's hard earned savings being stolen.
You fail to see the sarcasm and disgust in my tone.
Right now they are just fighting to see who's hands they tie it too. They all know we are fucked and there is not a damn thing anybody can do about it.
Yep brothers CD and Cdad, Ive been saying they want emergency fireworks too, not more extend and pretend. They need to swoop in and gets their hands on that $4 trillion in 401K's and pension funds.
And how exactly would they do that and get away with it? For all the talk about how the 0.1% own this country, the 401K holders are the voters of this country. You steal the 401K's and your political party has just committed suicide.
There are other ways of stealing it without "stealing" it. Wink Wink.
When it comes, the method will be forced allocation into US Treasury bills. And that will come right before said bills fall and rates spike. Wall Street will have used its connections in DC to write the law creating synthetic buyers of all the funny money T Bills the Fed has purchased.
People would go crazy. That's too obvious.
Looks like a false flag crisis, but they're sure taking their sweet time about it, (drumming fingers impatiently). What kind of crisis has the Nasdaq100 hitting multi-year highs each day? Talk about real life cognitive dissonance, this is it.
I think that they are both just playing the public - as in Good Cop/Bad Cop.
They are trying to soften-up the public so we will feel relief at whatever corrupt, ineffective plan they come-up with (which will it seems involve higher taxes for working people and massive direct deposit of funds to GS, JPM et al)
You can bet they are high-fiving in the conference room
One would almost think this shit is real.
Almost being the key word.
All it will take is for the right people to believe it is real for it to become real. Brinksmanship is a dangerous game. I wouldn't be playing it with things being the way they are.
Maybe I'm giving Obama and Boehner too much credit, but I wonder if this isn't an attempt to goad the hard-liners in the House to pass it in anticipation of Obama vetoing it, only to have him then sign it afterall; the thought being that the Boehner plan may be the best option Obama is left with since the more conservative elements of the house will never go along with Harry Reid's pretend cuts.
Except that it's pretty clear that neither side wants their political base to perceive that it has "given in" to the other side. That fact would argue that Obama won't sign the bill.
Always leave yourself an out. We'll soon find out if they observed this rule.
Obama was quite clear a long time ago that he would veto the Boehner bill. I do not know why Boehner has made such an effort to complete it for presentation, except to make a point--"this bill, which would have saved us all, was vetoed by the O-Jello."
Veteos can be overridden
yeah, cept Obama's party owns the Senate
You're just jealous it's not your party that owns the Senate.
It's pretty simple. By presenting a bill to Obama which he then vetoes, the Republicans can go on CNN/MSNBC and claim that Obama is responsible for the default (which isn't a default of course). If the Democratic Senate goes along with the bill it will be interesting to see what happens vis-a-vis Obama.
Huh, Obama has a spine?
So do snakes. Big deal.
This is a big BAG of SUCK
Go for it Mr. President. Better to be wrong than indecisive, better still to have a plan B.
Wang, I like the avatar.
Obama knows the MFM will carry his water til doomsday.
They are all-in on the Obama train. They can't stop. They sold him as a savior to an idiot population, and they dare not stop.
Looks like it is all but certain that Obummer is going to go down big in the next election and the Republicans are going to sweep again. They won't cut spending much, but they are going to spend and cut taxes like madmen in order to get the economy rolling.
Of course, Obama could panic any time and roll out an emergency jobs bill or something. But now he's backed into a corner, cutting payroll taxes would look kind of stupid after he threatened to veto.
In any event, the market refuses to sell off because either way, gobs of money is going to be thrown into the economy to get people back to work.
And nobody dares to short Treasuries with Uncle Gorilla sopping up all the bids and scared central bankers in Japan and China deathly afraid of higher interest rates that choke their own exports, so they also have no choice but to keep lapping up U.S. debt into infinity.
maybe this is all a ploy so he doesn't even get to run for a second term? one can hope
Thanks for the visual Robo!
I wont touch the Uncle Gorilla.
pods
The last time we threw "gobs of money" it failed to get people "back to work." What happened dude?
>> The last time we threw "gobs of money" it failed to get people "back to work."
You are speaking of the tax cuts for the wealthy who supposedly provide jobs with the bonanza?
Theyve been 'throwing gobs of money' for years now and its resulted in more job losses. It was never about that, it was about monetizing the debt, which is basically now complete.
Brutally frank (and plausible) analysis Robot. I gave you a greenie. Why so many junks Robo haters?
Tradition!
I hope for your sake you know more about trading than you do about politics.
The next election is 16 months out. 90% of the voters won't even start to pay attention until the final 2 months, and the last week will be the defining period.
I did not vote for him, but the Republicans better find someone stronger than the midgets they currently have on the field, or Obama will wipe the floor with their nominee. Just wait until the ads start running. By then, anyone who even looks like they want to cut the 'safety nets' of a scarred population will be trounced. Just wait & see.
This country is just about evenly divided between Dims & Repukes. It is the Independents that decide. He has been losing some of them lately, but still has high ratings for this point in his presidency relative to his predecessors....but just look at his ratings vs Congress. He beats the crap out of them, especially the repuke Congress. I am just about as disgusted as anybody with this crapola, but realistically, I don't see this guy getting beat unless thengs really blow up...and he can't find a scpaegoat. Either way, 16 months is a political eternity, and polls pitting Obama against any generic candidate are totally worthless.
Seriously. Who do you think is going to both win the nomination AND beat Obummer?
If Obama stands his ground on increasing taxes along with cutting spending, he will come out the hero. If he caves, yet again, on repealing the Bush tax cuts for the wealthy, he's dead meat. The Repubs think they have him backed into a no win situation, but there is a clear populist routte to take, make them most well off in our society share the burden of righting the ship.
None of what either of you wrote is critical. The three things that will decide the 2012 election are (1) unemployment rate. If it's still around 10% bad for Obama. (2) Stock market. Anything below 10000 is bad for Obama. (3) The price of food/gasoline. Gas over $4.50/gallon is bad for Obama. Remember, 2nd term elections are always a referendum on the incumbent.
ALWAYS is a really big word.
Please take note of a couple of points I made, then answer my last question.
I said Obummer might be in danger IF he can't find a scapegoat. I think the chances are very good that he can, and the media will help him along the way. So will a virtually unlimited campaign war chest. He is Wall Street's guy, dontcha' know.
My other point is that it takes "somebody" to beat somebody. Until there is a nominee on the other side, all this is just blather & chatter.
I certainly do agree that he appears beatable, but who is going to do it. I hear plenty of people say they don't like him or are not happy with the way things are going, but not very many Dims will cross over to vote Repuke, unless there is a really outstanding alternative candidate with some new ideas. Independents tend to be better informed, and that is where the deciding votes will come from. Anyone who thinks the Tea Party candidate is likely to win is just engaging in wishful thinking. Plus, most folks with a brain are tired of the GOP tax cut mantra as the answer to all problems. In fact, more are waking up to the realization they have been screwed on the tax cut issue, as so much was directed toward the truly wealthy during the Bush years.
If gas is over $5, food prices sky-rocket, and unemployment keeps rising and a Repuke candidate starts talking about cuts in the social safety net, he/she will be dead on arrival.
So, back to my original question: "Seriously. Who do you think is going to both win the nomination AND beat Obummer?
Gas over $4.50/gallon is bad for Obama.
Normally it would seem gas over $80 and UE over 8% and the incumbent is toast. If the numbers are close, the case will be made that "things are improving". So the threshold should be reset to WTI over $90 and UE over 8.5%.
This implies a MASSSIVE public spend effort and market intervention to keep the price of oil down to get to these thresholds. The Repubs are unlikely to legislate for this, so Bam is about to threaten Bennie with his job unless he delivers.
Bad news all around.
sschu
"I will cut the Federal deficit in half during my first four years".
Barrack Obama 2008
"I know you Hoped for Change,
but I have Changed that Hope,
into despair,
and Hope that you still have some Change left in your pocket."
-- Obama, 2011
LOL
“We’re not going to monetize the debt,” Mr. Bernanke declared flatly...
February 25, 2010
http://www.washingtontimes.com/news/2010/feb/25/bernanke-delivers-warning-on-us-debt/
"We need to make some modest adjustments to get our house in order".
Pres. Barack Obama July 2011
THAT MAN'S NEGOTIATION SKILLS ARE AWESOME!
SENT HIM TO ISREAL AND IRAN!! Do I HEAR NUKES EXPLODING IN 1, 2, 3...?
or even 3,2,1 ... :)
What're they gonna do next arm wrestle?
1, 2, 3, 4, I declare a thumb war!
He vetoes it; he's a one-termer via Independents. He signs it; he's a one-termer via Liberals.
Thus, he has nothing to lose. If he's gonna go down anyway, he might as well take us all with him.
Like there was ever any other plan.
Americans need to get poorer, so the third world can get richer. The zero sum gamers never wanted anything other than what is happening.
You mean running trade deficits for ten years straight is bad for the economy?
The Rs lost their way, and they got replaced with great vengeance.
Some still remember the lesson.
Obama will win re-election. There is no credible republican candiate to vote for if you're an independent. If you think Michelle Bachmann is going to fly, I have a some koo-aid for ya, straight from jim jones. it mighty tasty. Ron Paul won't win the GOP nomination and nobody will vote for a third party. I think news of Obama's presidency dying has been drastically premmature. Before half of you have an a heart attack, im just being realistic. Plus you really think him vetoing it will turn off indies. Quite the opposite cause it will show spine. If default happens, GOP gets the blame cause the way the whole the is framed and everyone knows it.
If a bill is passed by the House and Senate and Obama then vetoes it, he can't blame it on the Republicans. See my post above, 2nd term elections are always a referendum on the incumbent. If "the people" are angry about what is going on, those against Obama will turn out in droves. Those for him will be demoralized.
Obama will be blamed for the unemployment rate and will lose the election. If this continues, we could see one term Presidents for the next 20 years.
Obama will win re-election. There is no credible republican candiate to vote for if you're an independent. If you think Michelle Bachmann is going to fly, I have a some koo-aid for ya, straight from jim jones. it mighty tasty. Ron Paul won't win the GOP nomination and nobody will vote for a third party. I think news of Obama's presidency dying has been drastically premmature. Before half of you have an a heart attack, im just being realistic. Plus you really think him vetoing it will turn off indies. Quite the opposite cause it will show spine. If default happens, GOP gets the blame cause the way the whole the is framed and everyone knows it.
Good. I hope they stay on their positions and the US is forced to cut everything and bring back troops home... who am I kidding... this will never happen.
I would be careful about wishing that. They might decide to use them after they get here.
pods
No, that'll be the UN's job or Obama's "just as powerful" corpsE (as he likes to pronounce it).
Just another empty posturing. I think they fell in love with each other.
DJIA only dropping 20 points on the news, where it should be good for 200...
At least read it first Obamo.
well the stage is set...I hope Boehners plan passes...and then the Senate...and Obama vetos....then the dirt is on his hands....it will bring the Socialist out from his hiding place in full view of the public...keep you ammo dry and you guns clean...got gold?
Yeah, only one flaw with that plan: Boner hasn't got the votes. And if you're House Speaker and can't deliver the votes, then you have...nothing. Aside from a way to keep anything from getting passed.
The downgrade to AA on Friday is already baked in. Only question is who will position themselves by then to take advantage. IMHO this makes the veto threat today good polticis, because the loser in that particular tactical battle will wind up being anyone who said "No" to a plausible offer within 24 hours of the downgrade.
The ultimate resolution will be a "compromise": No new taxes to satisfy the TP'ers, accounting tricks and sham savings to give the Dems something they can say they did, throw a couple stealthy big-business tax breaks in to satisfy the pork dealers on both sides of the aisle, raise the debt ceiling....win-win-win-win, and as before we get a bill of more spending / lower taxes / more debt disguised as austerity. You sort of have to admire how shameless they are.
From today's Daily Reckoning:
The politicians can’t get together and make up their minds. The theme is particularly common now because the debt ceiling hangs over the nation like... well, like a debt ceiling. Once the ceiling is hit horrible things will happen. The politicians will only be able to spend what they raise in tax revenues. They’ll have to live within their means, in other words. If that isn’t the end of the world, we don’t know what is!
Why is it the end of the world? Because the country has gotten used to spending money it doesn’t have and probably never will have. It spends the money on Medicaid and unemployment benefits and so forth. The feds send out 80 million cheques a month. Without an increase in debt, millions of people won’t get their stolen money.
mmm...the author has a point
Hallow is exactly how i feel about this matter.
And I must borrow every changing shape
To find expression . . . dance, dance
Like a dancing bear,
Cry like a parrot, chatter like an ape.
Let us take the air, in a tobacco trance--
why hasn't any one mentioned the obvious? STOP THE GOD DAMN WARS!
Because their wars are sacred. They will be the last thing cut. They weren't even on the table. That's how you know this whole budget battle show was pure bullshit.
I'm for that, but it doesn't solve the problem. But it does help. We need to be taking baby steps to reap some savings, this is a good place to begin. It serves no real productive purpose now except prolong bullshit. Why is the USA the ones bankrupting itself to support global defense. Fuck that, let's start pulling out on that responsibility. There are a lot of people out there that don't like Americans anyway, let's begin to cut these folks to defend themselves. Many of them are more sound financially than we are any more, I'm tired of fucking up our finance to help countries like Germany and others that have plenty of resources now to cover their own defense needs. This is the 21st century, let's quit thinking like World War II or the Cold War. We can not afford it any longer, and haven't been able to for some time.
Come on Boehner, grow a boner and start throwing the IMPEACHMENT word around!
i'm pro-boehno all the way.
Exactly!
He needs to diffuse attention away from the fact that he is Speaker in name only, and that the Tea Party/Cantor faction holds all the (R) cards, not the Speaker. He can't admit that, so he keeps on with his niche proposal that will never go anywhere with TP/Cantor or Obama. Plus, if he goes crawling to Pelosi now, he will be ousted as Speaker tomorrow.
Burn Baby Burn!
Ummmmmmmmmmmmm....................
Cantor is pushing for pugs to vote FOR the boener plan.
exactly FAIL!
WASHINGTON (AP) — House GOP leaders are postponing a vote on a plan to trade more than $1 trillion in spending cuts for an increase in the government's borrowing cap that would be nearly as large.
Rep. David Dreier of California says the postponement is because congressional scorekeepers said the bill won't produce the budget savings promised by House Speaker John Boehner when unveiling it Monday.
Republicans are also struggling to shore up support for the measure among conservatives unhappy over its promised budget cuts.
GOP leaders had promised a vote on Wednesday. Dreier says the measure could come to a vote on Thursday after it's modified.
;)
Interestly Bawl St Urinal reporting Boner don't have nuff votes to pass his plan - which is total BS as if the Tea Partiers weren't pressuring him - he would caved on the front 9....
Interestly Bawl St Urinal reporting Boner don't have nuff votes to pass his plan - which is total BS as if the Tea Partiers weren't pressuring him - he would caved on the front 9....
I have to veto it so you can't find out what's in it.
At some point crying "Wolf" no longer works...
PS. I really like these little arrows.
.
Golly gee Mr. Peabody, maybe they really will begin to hate each other so much that nothing gets done.
Right Sherman, watch the class warfare break out amongst everybody, even though they don't all realize that they're the patsies and will pay in the end.
You mean this is all Hegelian Dialect with dire coonsequences, Mr. Peabody?
That's right Sherman, the Leviathian needs crises to grow and prosper, subsume evrything and everybody control all vegitable, mineral, man, woman and child on the planet. Just like Mr. Taibbi said, a great Vampire Squid upon the face of humanity, only bigger, worldwide.
You mean the Vampire Squid is small in the Big Picture; isn't that dangerous Mr. Peabody?
Very Sherman, very.
Good thing we have the Wayback Machine Mr. Peabody.
Shhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh.........
I like your stuff, but dude, brevity is the soul of wit.
now that is an old cartoon.....
Oh yes! It was getting a little boring today that' more like it.
His best move is to make his next address from the oval office and (using any of about three legal mechanisms that have been discussed to death already) unilaterally raise the ceiling on national security grounds. Checkmate. Let the idiots in the House sue him.
But this won't happen. Because at root, he supports the GOP agenda. The trick is to implement that without destroying his core support. That's what makes this so much fun to watch.
that post is weapons-grade stupid.
That's some fucking good weed huh.
This is Barry I you are talking about.
More likely he'll call a joint session of congress, with the Supremes, be late, and have one of his minions pop a canister of VX in the chamber.
Martial law in one quick step.
Tired of this circus.
Just average the last 10 debt ceiling raises and raise it by that much. No taxes or cuts. If Obama and the democrats want more, make them come back an beg for it every 6 months. The math will catch up sooner or later.
This reminded me of Muse lyrics
We have been sold out.
Ain't is amazing what you can't feel when you are anesthetized?
Just wait until they realize they need to start weaning the proles off the pain meds.
Doesn't change the plan man. GS shoved up Obummer's ass - short, crash, long, debt ceiling extension w/no cuts - no taxes, no down grade.
Why are no reporters writing about TEPCO anymore. SDurely the leaky radiation is still spewing.....????? Was the meltdown that boring?...that Hoo-Hum?
Tepco ist just so yesterday.....
halftime for halfwitts!!
So, does this mean he doesn't want compromise?
and what else is going on.....
oh yea, this:
Obama-U.N. Gun Control Treatyhttp://www.usnews.com/news/blogs/washington-whispers/2011/07/26/democrats-oppose-obama-un-gun-control-treaty
Brown signs California Dream Acthttp://www.latimes.com/news/local/la-me-brown-dream-act-20110726,0,3203216.story
It's like deja' vu all over again.
His ambassador to the UN is trying to make climate change a Security Council issue.
He hasn't even slowed down on the whole fascist dictator thing.
How does this stack up with the apparent insider trading by Barry Sotero telling bank chiefs that there will be NO DEFAULT ?
http://www.foxbusiness.com/markets/2011/07/25/obama-to-banks-were-not-de...
A senior banking official told FOX Business
All bull shit. Do you actually believe a senior banking official & Fox news would tell the truth? They can't make any money by telling the truth!!!! What the hell.
Why not?
It isn't like the market is saturated by news organizations telling the truth.
You seem to have conviently neglected senior banking officials.
I always write off un-named sources as bullshit.
Socialists don't compromise.
another three days of this and by monday or tuesday it will be the shiny new 12 man bankster "super congress" coming to the rescue, the sad part is on the brink of the manufactured economic abyss the sheep will welcome it... not realizing that we are f@cked whether the debt limit gets raised or not...
this is how liberty dies...with thunderous applause.
Nobel prize winner
Once the absurdity really hits the fan he will probably win the Nobel Prize in Economics, also.
Boehner has the upper hand. Obama will cave.
Campaign contributions from Goldman Sachs
Obama- $1MM+
Boehner- $100k+
I would say GS continues to have the upper hand here.
Let alone, take a look at the top 10 PAC donors to Boehner:
Keep in mind, this is a US rep. The banks know where to make their money count.
Also, UPS/FEDEX/AMO, all involved in shipping. He must be on some made up shipping committee in congress.
RAI/Altria, both tobacco companies. I'm not even sure if there is a single large tobacco grower in the whole state of Ohio.
Boehner has the upper hand...
William Somerset: [discovering what's inside the package] California, tell your people to stay away. Stay away now, don't - don't come in here. Whatever you hear, stay away! John Doe has the upper hand!
Obama threatens to veto...
Translation: please, oh please don't put something on my desk and paint me into a corner.
Right, but if the senate approves, Obama's lost the support of his party.FAIL (as the kids say).
Presidente Hopium has now promised to veto the latest Bonehead plan, which in turn the House Tea Party goons have promised not to support [Tea Party Revolts Against Boehner Bill]. Do you still think this is just Kabuki theater? Some how that not supposed to add up to a debt default in five days? Perhaps not a debt default, but only because it now potentially puts in play another option for Obama: a constitutional crisis where he overrides the Congress on the debt ceiling because of "economic necessity".
Already former President Clinton has front run this approach in the press. Some (such as this Salon article) think Obama is too lacking in cajones for this, but really what is the other option? I don't know who I hate and despise more, Hopium or the Republicans, but few Americans, me included will stand by and allow a President to be impeached by Republicans because of this. If anything this could be twisted by Obama into some kind of "profile in courage" farce.
Regardless of any temporary political gain Obama might gain from this, it does promise to be a fiasco. Credit downgrades will follow, and the stage will be set for a long hot summer of atrocious ungovernable behavior, making compromise over fiscal matters impossible. The great good that may come out of this bagunca is the complete utter collapse of the corrupt two party system, and perhaps even some old fashioned street revolution and riots. Keep your fingers crossed.
"...few Americans, me included will stand by and allow a President to be impeached by Republicans because of this."
So, if they do, russwinter, what are you going to do about it?
Let's see if I have this straight. The first thing Presidential that Obama would do in his Presidency and you would impeach him for it?
No, you're changing my question. You threaten action. What action would you take? I will be impeaching no one. You threaten action. You threaten action on behalf of the American people, as well. So it remains, if impeached, what are you going to do about it?
If you had actually read my words, I didn't threaten action, I simply predicted that this would be the catalyst that ends the current two-party sytem.
"... but few Americans, me included will stand by and allow a President to be impeached by Republicans because of this."
Ok...tough guy.
Even Cochise is now spinning in his grave.
This country has been compromised enough. And I'd cheer impeachment.