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

Tyler Durden's picture


Here is the first official statement of the night, this time from Nevada democrat Harry Reid (and with $41 million in career campaign contributions, well-paid we should add) who basically recaps the McConnell/Pelosi stance, and says that the Boehner position, which supposedly requires short-term debt ceiling hikes, is a "non-starter in the Senate and with the President.

"Tonight, talks broke down over Republicans' continued insistence on a short-term raise of the debt ceiling, which is something that President Obama, Leader Pelosi and I have been clear we would not support. A short-term extension would not provide the certainty the markets are looking for, and risks many of the same dire economic consequences that would be triggered by default itself. Speaker Boehner's plan, no matter how he tries to dress it up, is simply a short-term plan, and is therefore a non-starter in the Senate and with the President.


"In an effort to reach a bipartisan compromise, we are putting together a $2.7 trillion deficit reduction package that meets Republicans' two major criteria: it will include enough spending cuts to meet or exceed the amount of a debt ceiling raise through the end of 2012, and it will not include revenues. We hope Speaker Boehner will abandon his 'my way or the highway' approach, and join us in forging a bipartisan compromise along these lines."


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Sun, 07/24/2011 - 21:03 | 1489276 Ident 7777 economy
Ident 7777 economy's picture




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
JustPrintMoreDuh's picture

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
Infinite QE's picture


'Super Congress': Debt Ceiling Negotiators Aim To Create New Legislative Body


Sun, 07/24/2011 - 21:14 | 1489288 Ident 7777 economy
Ident 7777 economy's picture

'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
Cheesy Bastard's picture

Super Congress, my ass.  We don't need any more bad super heroes.

Sun, 07/24/2011 - 21:27 | 1489332 Infinite QE
Infinite QE's picture

Continued: 'as they will be outsourced to Goldman Sachs'

Sun, 07/24/2011 - 21:15 | 1489296 RacerX
RacerX's picture

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
tom a taxpayer's picture


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
darkstar7646's picture

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
RacerX's picture

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
Iam_Silverman's picture

"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/ 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
Infinite QE's picture

"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 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.

Mon, 07/25/2011 - 06:16 | 1489980 Yen Cross
Yen Cross's picture

Thanks Buzz.  You are the best.... Yen

Sun, 07/24/2011 - 21:29 | 1489342 HungrySeagull
HungrySeagull's picture

In other words, congress does not want to deal with Government Budgets anymore.

Do I have that right?


If so, the Governors of the 50 States should step in and start removing thier representatives and replacing with fresh ones starting with Harry Reid.

Sun, 07/24/2011 - 23:16 | 1489598 Bobportlandor
Bobportlandor's picture

I had thought of this a while back. States should confascate all fed tax receipts, and strangle the fed, then start over.

Otherwise it is way too gummed up to fix in a timely matter even if they cooperate.


Sun, 07/24/2011 - 21:29 | 1489345 SRV - ES339
SRV - ES339's picture

So the top 2% can rest easy... they will not have to part with another dime as long as the GOP / T Party cabal have The House

Sun, 07/24/2011 - 21:31 | 1489347 Seasmoke
Seasmoke's picture

this time is different

Sun, 07/24/2011 - 21:39 | 1489362 knukles
knukles's picture

1.4, 2.5 whateverthefuck Trillion.
As compared to what?
There was no budget last year, so it can't be compared to last years no budget.
Ain't got a budget this year to even modify, as ain't been no budget passed with which to bring any sort of baseline comparison.
Can't be any form of cash on cash calculation like my checkbook because so much is off budget, unattended agencies, black budget, burried, theft, graft, missing bazillions of palatizied money or lost digits on destroyed Pentagon computers.
So what and who the fuck is even kidding who about what is being "cut". 
Not a fucking thing is being cut.
What's being talked about is future projected expenditures calculated form a nonexistent baeline number which nobody can even come close to guessing at, growing at uncalculable and improbable rates of increase, formiulated on faulty, indeed useless sytatic analysis for indeterminite periods of time without any regard to reality.
So whatthefuck is everybody even debating about?
They're fucking meaningless numbers utilized as foils, illusions in a dreamland of imaginary realities where truth and honesty have ceased to exist, a theater of the absurd.

With the exception, the hope the chance, that if drama is cast aside, then the real debate about larger, more expensive, statist, nanny government versus a smaller, cheaper, less intrusive entity might be pursued. 
Operative term; "might".
Listening to the last election, that should truly be read as "a debate demanded by the electorate."


Sun, 07/24/2011 - 21:37 | 1489365 SovietCong
SovietCong's picture

"A short-term extension would not provide the certainty the markets are looking for, and risks many of the same dire economic consequences that would be triggered by default itself."

The way I see things, a short-term deal would give markets more certainty than an outright default, hence would be pareto-superior. Who knows, perhaps a gradual market conditioning would even work better than an immediate $1.5T+ debasement?

How about we just put Steve Jobs in charge of this fiscal balancing challenge and check on him in, like, a year.

Sun, 07/24/2011 - 21:47 | 1489388 goldsaver
goldsaver's picture

Ah, young padawan, but Steve Jobs has something people want. What the hell does government have bu the plunder of the citizens wealth?

Sun, 07/24/2011 - 22:48 | 1489530 SovietCong
SovietCong's picture

Good point. However, let me counter with the observation that when Mr. Jobs came back to AAPL, many thought its offer is as appealing as that of the government less the plundering capability. Perhaps sometimes it's not about what people want, but how you sell them on what you have for sale. The way of apple, when applied to what the government has to offer, teaches that the ultimate goal is to make people want to be plundered by you rather than somebody else -- by offering superior plundering experience.

Mon, 07/25/2011 - 01:47 | 1489840 InvalidID
InvalidID's picture


 I dunno. IPhone / Irs... I can see the connection.

Sun, 07/24/2011 - 21:39 | 1489368 Manzilla
Manzilla's picture

Can we just vote these liars out of office? Start with Boehner and Reid and then all the rest. Please!

Sun, 07/24/2011 - 21:59 | 1489422 Conrad Murray
Conrad Murray's picture

Not until ALL living Federal Reserve cartel members, all living treasury secretaries, and all living leaders of all three banches of government are tried for treason.

Sun, 07/24/2011 - 23:39 | 1489652 carbonmutant
carbonmutant's picture

You may get your wish....

Sun, 07/24/2011 - 21:39 | 1489369 sasebo
sasebo's picture

Looks like Harry Reid the pompous asshole shit in his mess kit again.

Sun, 07/24/2011 - 22:38 | 1489513 Bobbyrib
Bobbyrib's picture

Good, the Democrats and Republicans can go back and forth like this as long as nothing gets passed by August 2nd for all I care.

Sun, 07/24/2011 - 21:44 | 1489382 Lmo Mutton
Lmo Mutton's picture

I cooked a whole bag of popcorn for this?

Sun, 07/24/2011 - 21:45 | 1489384 Everyman
Everyman's picture

Shows you where these piece of shit congressmen and senators are.  Corrupt and looking only at the short term and the "markets".

This is what happens when you get stupid people consolidated in DC and then corrupt them with bribes.  These pricks don't give a shit about the country, they only care about their re-election, their bribes, their party and their contributors.  The rest of the country is NOT their concern.


I hope somebody takes extreme action with this asshole Harry Reid.

Sun, 07/24/2011 - 21:45 | 1489385 Everybodys All ...
Everybodys All American's picture

Think about this Democrats and Republicans alike. 2.7 trillion! Gets us past the 2012 november presidential election. That's 16-17 months of spending and then they will need to do this again. That is incredible the amount of spending this government is on. This administration is on a bullet train heading us over a cliff. It is that simple.

No way will the markets or ratings agencies accept this trajectory of spending.

Sun, 07/24/2011 - 21:49 | 1489397 Firing Pin
Firing Pin's picture

Did you know that Harry Reid is from a small town called Searchlight in Nevada?  In case you've forgotten, Harry will shortly tell you this fact again...and again...and again...

Sun, 07/24/2011 - 21:54 | 1489400 Yen Cross
Yen Cross's picture

  The can is going to get kicked! The Republicans know where the leverage lies... If the dems. get the longer term deal it takes them into the house of Reps. midterms after 12 elections. If the Republicans capture a 2/3rd's majority they write their own ticket in 12. Not to mention they can accuse the Dems. of deal busting spending along the way.. Period. P.S. thanks for the advice.

Sun, 07/24/2011 - 22:08 | 1489417 TomGa
TomGa's picture

Uh, yeah, did we really say "August 2nd?"  We did? Gosh, um, yeah, well, you know, uh, we didn't really mean it... Sorry about that.


"As the clock ticks down on U.S. politicians trying to strike a deal to raise the debt ceiling, UBS Securities LLC says Aug. 2 may not be a real deadline. "UBS analysis suggests (the U.S.) Treasury has the funds to make all payments until about August 8th - 10th," Chris Ahrens, head of interest rate strategy says in a note. Ahrens writes that there is a "rising probability" of a downgrade of the rating on U.S. long-term sovereigns, a scenario that is possible even if the U.S. avoids default."  

--WSJ Blog

Sun, 07/24/2011 - 22:01 | 1489426 colonial
colonial's picture

Hey Ty:

not sure the Reps are going to fold...considering the spineless nature of political debate in the obama era the reps have actually "stiffened."  Of course its easier to stand-up to OB if you know you have no alternative.  As I have said on this site before...right now no one has the votes for any deal.

Let me repeat one has the votes for any of the deals being floated. 

Sun, 07/24/2011 - 22:03 | 1489432 Zymurguy
Zymurguy's picture

The Prez sorta slipped up the other day... he mentioned wanting the new debt ceiling to create enough room so that we woudn't need to revisit this until after the next election cycle.

That's what all the posturing is about.  Narcissism is very opaque.

Hey, I have an idea... just call in the $16Trillion of loans we made to foreign banks.  That should put us back in the black... see, fixed.

Sun, 07/24/2011 - 22:07 | 1489438 Peter_Griffin
Peter_Griffin's picture

Can't.... agree.... on.... debt... ceiling... till... q..e..3... commences... 


How else will they sell treasuries for their new debt?

Sun, 07/24/2011 - 22:08 | 1489442 TuesdayBen
TuesdayBen's picture

Dirty Harry owns a condo in the Ritz complex....down the hall from ex-Fannie CEOs Johnson and Raines.....

Sun, 07/24/2011 - 22:43 | 1489520 tom a taxpayer
tom a taxpayer's picture

All that's needed for a foursome is for Barney to move into the Ritz.

Sun, 07/24/2011 - 23:21 | 1489590 Goldilocks
Goldilocks's picture


Furians, defiant to the end.

Sun, 07/24/2011 - 23:53 | 1489690 Central Bankster
Central Bankster's picture

The politicians are the Necromongers, no?

Mon, 07/25/2011 - 02:19 | 1489760 Goldilocks
Goldilocks's picture

More or less... yes.

I should have wrote, "Crazians. Defiant to the end.

Sun, 07/24/2011 - 23:29 | 1489629 whiskeyjim
whiskeyjim's picture

This story is simple. Obama and the Democrats want a long range post 2012 election debt ceiling rise so they will not have debt and social safety net discussions hanging like a mill stone around their election runs.

It is the same thing with their arguments regarding a 'balanced' approach to the deficit. What balanced approach? A Democratically controlled Congress could have had their tax increases just last year by DOING NOTHING. The Bush tax cuts were set to expire. Likewise, RIGHT NOW taxes are set to increase because again, the Bush tax cuts are set to expire. SO TAXES ARE ALREADY SET TO INCREASE WITHOUT DOING ANYTHING. That Obamacare already raises taxes in addition to systemic increases is just a horribly ironic sidebar by now. The whole discussion put forward by Obama and the MSM is beyond ludicrous. Only a party as stupid as the Republicans could allow such an Orwellian discusssion to paint them as the bad guys here.

If spending cuts are the goal, many discussions over the next 10 years are the way to get it done. And BTW, calling a $5 trillion cut over 10 years large is beyond Orwellian given the cuts we made after WWII.


Mon, 07/25/2011 - 00:47 | 1489772 sbenard
sbenard's picture

Impasse is good!

Mon, 07/25/2011 - 01:36 | 1489831 JLee2027
JLee2027's picture

When Harry Reid whines, you know to completely ignore it.

Mon, 07/25/2011 - 01:39 | 1489833 FlyPaper
FlyPaper's picture

Reid's - has not produced a frickin' budget for 2 years, despite being legally required to do so.  

Reid has not provided a plan on his own.

Reid did not get a tax increase pass is own party when they had full control of the government (House/Senate/Pres).

Obama has only provided rhetoric in speeches, and not presented a plan.

Obama outsourced the problem to his buddy Joe, then tried to position himself as above the fray.  What bullshit.  He IS the fray.

Reps at least tried - twice now - to put something into place, and they wrote it down.

All Obama can do is piss on everyone else's ideas, while trying to force the R to do what the D team would not do.

So at this point, Harry Reid is in no position to criticize anyone or anything. 

Mon, 07/25/2011 - 09:09 | 1490211 Ident 7777 economy
Ident 7777 economy's picture

Reid's - has not produced a frickin' budget for 2 years, despite being legally required to do so.  

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

Needs to be a penalty automatically assessed for missing an assignment like that; dock each month's pay until delivered, 'demerits' on a review or revocation of 'Franking Privileges' ...




Mon, 07/25/2011 - 02:13 | 1489865 djcando
djcando's picture

What a Dick!

Mon, 07/25/2011 - 04:07 | 1489929 John_Coltrane
John_Coltrane's picture

Remember, the house passed a 2012 budget which had real immediate cuts which Reid's spineless Senate Dems voted down without offering anything thenselves.  Then, the house passed the most widely supported (see all polls) approach to the debt ceiling, cut, cap and balance-which insures a downward trajectory each year and again the Spineless Reid Dem rejected it but just by 51-46.  They better revisit cut, cap and balance cause that's the best they're going to get.  They have no plan of their own.  They're going to have to beg for a cap increase every three months until the election.  The Tea party has them by the balls and they know it.  People like me have been flooding their reps telling them not to increase the ceiling and support the cut, cap and balance bill.  Notice-obama hasn't "taken this issue to the people".  His pollsters tell him he has no support for taking on yet more debt to solve his debt problem.  Cut real spending now.  The best solution to exponential growth in the debt is exponential decay in the debt.

Mon, 07/25/2011 - 05:00 | 1489946 bgilliam83
bgilliam83's picture

Nothing we can do about it now, save for black balling his entire genomic code from employment in a world with no Social Security.  That might teach these ass holes a lesson they or their progeny will never forget.

Mon, 07/25/2011 - 08:53 | 1490190 Mises knows best
Mises knows best's picture

Both parties are big government parties.

It is Ron Paul vs. the statists.

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