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The Official Statements Resume: Harry Reid Issues Lament On Republican Insistence For Short Term Hikes

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Sun, 07/24/2011 - 21:03 | 1489276 Ident 7777 economy
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Did Harry Reid actually issue this -


Or was it his Nurse maid?





Sun, 07/24/2011 - 21:44 | 1489378 monkeyshine
monkeyshine's picture

Everyone should know the score here. Over the past decade all Congress ever did was pass short term solutions.  This time the Democrats, trying to leverage the power they still have (losing a lot in 2010 when they lost the house) want to push the issue past the 2012 election so it can't be used by the GOP as a campaign issue.  The GOP wants a big cut to spending now that they can use as a trophy or, a solution that will last just long enough that it becomes an issue again before the 2012 election.

Pick a side.

Sun, 07/24/2011 - 22:18 | 1489466 Bobbyrib
Bobbyrib's picture

"Pick a side."


I would rather not, thank you.

Mon, 07/25/2011 - 02:39 | 1489884 darkstar7646
darkstar7646's picture

Bobby, one will be picked for you, and you probably won't like it, if you don't pick a side yourself.

Sun, 07/24/2011 - 23:26 | 1489625 JustPrintMoreDuh
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Heads they win, tails we lose

Sun, 07/24/2011 - 21:09 | 1489280 HungrySeagull
HungrySeagull's picture

Nurse maid wet nurse issued it. Reid does not know what he wants.... He is currently playing "House"

Sun, 07/24/2011 - 21:10 | 1489281 Infinite QE
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'Super Congress': Debt Ceiling Negotiators Aim To Create New Legislative Body



Sun, 07/24/2011 - 21:14 | 1489288 Ident 7777 economy
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'Super Congress': Debt Ceiling Negotiators Aim To Create New Legislative Body


- - - - -

continuing: "Thereby Relieving Themselves of ALL Future Financial Decisions (quote THE HARD STUFF unquote)"


Sun, 07/24/2011 - 21:26 | 1489317 Cheesy Bastard
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Super Congress, my ass.  We don't need any more bad super heroes.



Sun, 07/24/2011 - 21:27 | 1489332 Infinite QE
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Continued: 'as they will be outsourced to Goldman Sachs'

Sun, 07/24/2011 - 21:15 | 1489296 RacerX
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wow. might be time to look into Panama. At least the weather is nicer there.. hotter women too.

Sun, 07/24/2011 - 21:50 | 1489398 tom a taxpayer
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Breaking News: Mt Rushmore2 honoring Boehner, Pelosi, Reid, and McConnell lays foundation for the Grand Budget Deficit Deal. Leaders of the House and Senate set the stage for the historic budget deficit negotiation by recognizing common ground: a $500 million mountain-carving sculpture of Boehner, Pelosi, Reid, and McConnell to rival the sculpture of the four Presidents on Mt Rushmore.

Recognizing the road to a Grand Budget Deficit Deal will be rocky, but will be achieved, the leaders of the "Super Congress" decided to instill public confidence by honoring the achievement early, in the same spirit as President Obama's Nobel Peace Prize in his first year in office. 


Sun, 07/24/2011 - 21:12 | 1489282 chump666
chump666's picture

ha, smells like a partial default looming.  that and china will start to get frisky on UST's on the short end, mixed with the manical Fed that will begin to print prime.  USD is toast till Europe implodes again

Mon, 07/25/2011 - 02:41 | 1489887 darkstar7646
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Prioritization (Probably more what you mean by a "partial default") means a complete default later.

Tax revenues will not be able to meet

Debt Service +
Military +
Homeland Peace

once the Treasury stops the SS checks, welfare, food stamps, etc. and so forth.

Sun, 07/24/2011 - 21:12 | 1489283 Cognitive Dissonance
Cognitive Dissonance's picture

He who smelt it dealt it. Congressional turds that is.

Sun, 07/24/2011 - 21:50 | 1489396 Spastica Rex
Spastica Rex's picture

He who denied it, supplied it.

I'm thinking that you and I are about the same age.

Sun, 07/24/2011 - 23:00 | 1489560 fraud-fed
fraud-fed's picture

But a fart has no nose.

Sun, 07/24/2011 - 21:12 | 1489284 RacerX
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Short Term as defined as not long enough to kick the can past the 2012 election.

Funny how both sides are overly concerned about "The Markets'" reaction, but not a peep on what is the fiscally "right" thing to do for the country.

Sun, 07/24/2011 - 21:16 | 1489290 Infinite QE
Infinite QE's picture

The `market' they are referring to is the market for their, ahem, skills.

Sun, 07/24/2011 - 21:20 | 1489313 Iam_Silverman
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"Short Term as defined as not long enough to kick the can past the 2012 election."

That is exactly what I was thinking too.  Our current President and seated senators don't want to be humiliated every three months right on up until election time, I reckon.

Sun, 07/24/2011 - 21:35 | 1489359 indygo55
indygo55's picture

You know what? Make 'em ask for more every week or month until the election. The we can accentuate the humiliation of this chirade every time they ask, and let them feel what average Americans feel when they pull up to the gas pumps or pay at the grocery store.

Sun, 07/24/2011 - 21:29 | 1489340 Selah
Selah's picture


Sun, 07/24/2011 - 21:29 | 1489341 Selah
Selah's picture

Screw America!

Save the markets. That's what they have been doing and will continue to do.

until they can't...

Sun, 07/24/2011 - 21:39 | 1489370 chump666
chump666's picture

stocks will sell anyway, even if they stave off a full default (which is likely).  but rating agnecies will pull the Greek/PIIGS credit watch/downgrade...wtf they do.

Sun, 07/24/2011 - 21:12 | 1489287 monopoly
monopoly's picture

And many of the cuts are going to come from the drawdown in Iraq and Afghanistan. Those are not spending cuts. So stop the fresh flowers every day Harry, And why the hell do you stay at the Ritz Carlton in Washington where rooms start at $600 per night. You really have the right stuff to help this country and Nevada. What a twit you are. Retire resign, get lost. What about Congress getting the ball rolling with a 25% pay cut and 50% cut in expenses. Most of them are worth millions and do not even need the income.

What a pathetic country.

Sun, 07/24/2011 - 22:22 | 1489475 Bobbyrib
Bobbyrib's picture

Moody's and S&P will never downgrade. The minute they do, the DoJ starts to investigate their role in the financial fiasco of 2008. The US government has them by the balls.

Mon, 07/25/2011 - 02:42 | 1489889 darkstar7646
darkstar7646's picture

If they have the money to do so. Want to take that bet? Think they will??

(Protip: The downgrade happens anyway.)

Sun, 07/24/2011 - 21:27 | 1489291 GiantWang
GiantWang's picture

Just came home from sushi dinner, and I wish to share this fortune with all my fellow ZeroHedgers:

Sun, 07/24/2011 - 21:33 | 1489355 nonclaim
nonclaim's picture

There's no future, apparently...

Sun, 07/24/2011 - 21:44 | 1489379 Kali
Kali's picture

Fortune cookies are chinese, not japanese.  We already know japan has no future.

Sun, 07/24/2011 - 21:44 | 1489381 Infinite QE
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"Buy futures, sell futures, when there is no future" 

John Milton

Devil's Advocate

Sun, 07/24/2011 - 21:15 | 1489293 max2205
max2205's picture

Bag of Suck

Sun, 07/24/2011 - 21:15 | 1489294 kito
kito's picture

and this 2.7 trillion in cuts comes...ummm....when? 

Sun, 07/24/2011 - 21:15 | 1489297 What_Me_Worry
What_Me_Worry's picture

The markets are quite confident that any..minute..now there will be a deal that cuts the deficit by (insert number 1 to 10) trillion dollars and not raise taxes one cent and still provide all the government handouts from before.

Stayed tuned for the next exciting episode of "So you think you can kabuki dance".

Sun, 07/24/2011 - 21:16 | 1489298 bugs_
bugs_'s picture

Mr. Senator exactly what is distressing you?  Short term hikes in the debt ceiling or short term cuts that are real?

Sun, 07/24/2011 - 21:16 | 1489300 goldsaver
goldsaver's picture

So let me get this straight because I am confused. Harry says that the new proposal gives the Republican their two major points 2.7T in deficit reduction that exceed the proposed debt ceiling increase and does not increases taxes. But he warns that Boehner should abandon his my way or the highway stance.

Ok, if he gives Boehner everything he is demanding, did he not get it his way?

Sun, 07/24/2011 - 21:18 | 1489305 ISEEIT
ISEEIT's picture

Have you ever noticed that 'hairy reed' is a very creepy guy that doesn't get much face time? The dude is seriously fucked up. You can only play his game for so long without becoming destabalized.

Watch the players. The Left is about as phony and clueless as I have ever seen them. Bet they wished Bill was in charge about now.

That guy had no shame. He didn't give a rat's ass about fucking his fellow citizens (Glass-seagal-NAFTA). I understand that you useful idiots don't much care for the cognative dissonence that such reminders might subject you too.

Obamma is a narrsictic toy-boy of the elite, but he seemingly is not fully up to the task. The dude is hairy reeding on us.\

What a fucking clown.

Sun, 07/24/2011 - 21:56 | 1489416 Conrad Murray
Conrad Murray's picture

The Left is about as phony and clueless as I have ever seen them. Bet they wished Bill was in charge about now.

This is why the red team is able to hold out and push up against a default. Everyone thinks they will take the blame again, but Barry Hussein Soetoro is no Slick Willy. Odumbo is nowhere near as popular, outside of the radical Marxist circles anyhow.

Sun, 07/24/2011 - 21:19 | 1489310 buzzsaw99
buzzsaw99's picture

waiting for the "hitler finds out boehner won't raise the debt ceiling" video. until then:


Sun, 07/24/2011 - 21:20 | 1489312 jesse livermoore
jesse livermoore's picture

this is all noise...  the real headline is china and iran make a deal to trade oil for commodities cutting out the dollar.... this is how wars start i think.

Sun, 07/24/2011 - 21:27 | 1489331 RacerX
RacerX's picture

So that story caught your attention too eh?

Big moves afoot..

Sun, 07/24/2011 - 21:32 | 1489351 CrashisOptimistic
CrashisOptimistic's picture

That story is not as big as people think.

Iran is post Peak.  Far, far, far worse, their domestic oil consumption is exploding.  They will have less and less to export, regardless of how it is paid for.

Sun, 07/24/2011 - 21:36 | 1489363 jesse livermoore
jesse livermoore's picture

no offense pal,  but how do you know what iran has or does not have.  what i mean is where are you getting your information.  all countries lie about oil reserves, it is not like iran government can be trusted to tell the truth.

Sun, 07/24/2011 - 21:44 | 1489380 SDRII
SDRII's picture



Advisor to Bush as per article talks about regime succession and introduction of western technology in Iran and venezuela to harness the potential of the underutilized fields.

Sun, 07/24/2011 - 21:28 | 1489338 Iam_Silverman
Iam_Silverman's picture

"this is how wars start i think."

Economic war or shooting war?

Sun, 07/24/2011 - 21:33 | 1489353 jesse livermoore
jesse livermoore's picture

one leads to the other.... just ask   kadaffi

Sun, 07/24/2011 - 21:23 | 1489321 r101958
r101958's picture

Yes, and all ole Parry Harry wants is carte blanche. What a pud.

Sun, 07/24/2011 - 21:25 | 1489326 kalum
kalum's picture

Fuc- Harry Reid and Obama,criminal looters of our country

Sun, 07/24/2011 - 21:25 | 1489327 Killer the Buzzard
Killer the Buzzard's picture

Where was their concern for certainty in the markets last year when they failed to pass a budget?  What a buffoon.

Sun, 07/24/2011 - 21:27 | 1489333 Yen Cross
Yen Cross's picture

  Is there any (other)way to increase the response font size, other than Ctrl ++  Thanks for any insight Yen.

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