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Just a few weeks ago, congressional Republicans had a vague-but-consistent position on the debt ceiling. They knew it would have to be raised by mid-February, but before GOP members honored their obligations, they would demand that President Obama and Democrats accept over $1 trillion in spending cuts. Under the Republican plan, no ransom meant no deal.
It's hard to overstate how quickly this strategy fell apart. Under pressure from the business community, and with President Obama holding firm, House GOP leaders caved on Friday, announcing they would let the hostage go for practically nothing. And today, Republicans suspended the debt ceiling in exchange for no spending cuts at all.
The House passed legislation Wednesday to suspend the limit on the nation's borrowing authority for nearly four months, a move that would eliminate the threat of a government default and give lawmakers more time to address other looming budget deadlines.
House lawmakers voted 285-144 to pass the bill (HR 325) and Senate Majority Leader Harry Reid, D-Nev., said Wednesday morning that his chamber would clear the measure for the president's signature. And although the White House would prefer a long-term extension of borrowing authority, President Barack Obama has said he would not oppose the legislation.
The bill would suspend the debt limit through May 18, then automatically increase the current $16.4 trillion ceiling to accommodate additional debt accumulated before that date.
As we discussed yesterday, by suspending the debt ceiling, instead of raising it, this bill effectively makes it so that there is no debt limit between now and mid-May.
Today's vote was not, however, an entirely clean bill.
It suspend the debt ceiling through May 18, with the expectations that Congress will pass a budget by April. And if lawmakers fail to do so? Under the plan approved today, Congress won't get paid. (I'm still fairly confident that's unconstitutional, though the House doesn't seem to care.)
Because Democrats preferred a clean debt-ceiling bill to this, GOP leaders relied primarily (but not exclusively) on Republican votes to pass the proposal -- most House Republicans supported the bill (199 to 33), while most House Dems opposed it (86 to 111).
House Speaker John Boehner, in other words, did not have to ignore the so-called "Hastert Rule" on this one. The bill would have failed without Democratic support, but it nevertheless enjoyed a "majority of the majority."
That said, in the bigger picture, Republicans had a bad hand and played it poorly. They threatened to crash the economy unless they got their way, but the White House simply didn't believe the GOP was prepared to shoot the hostage. As quickly became clear, this assumption was correct -- Republicans made threats they couldn't back up, which made the cave that much more humiliating.
Yes, the resolution is temporary, and yes, the stage is still set for ugly fights on automatic sequestration cuts and keeping the government's lights on. Time will tell how severe the looming standoffs become.
But the key takeaway today is pretty straightforward: Republicans said they were prepared to force the nation into default but they weren't. When Obama didn't budge, the GOP's house of cards collapsed.
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If ever the GOP are willing to be grown-ups, then maybe we can get back to a functioning legislature. I'm not holding my breath, though.
people who STEAL FOR A LIVING don't feel a need to grow up. Just ask Bash al-assad, or mubarek, or momar. If repubers had their way, they would all work for terrorist leaders who pay them more. As it is, they have to suffer with $200k per year that their conservative enablers provide them.
What purpose is served by suspending idiocy for four months?
Trying to guess what a group who are proud that they refuse to let facts dictate their reality intends ...
As for putting their salaries in escrow, they have plenty of reason to believe it will buy them some support from much of their base, but really? Have they forgotten that more than two-thirds of the electorate just recently made it clear that they are NOT the wacko base?
"Against stupidity, the gods themselves strive in vain."
Take a look at the current crop of personalities representing the republican party today. Does this look like a group of people who are going to convince anyone other than the already severely indoctrinated to follow their lead?
they lie to get elected to steal. simple formula. romney did it. wallstreet does it.
We await the House bill ordering the Senate to wear its underwear on the outside. Yes, that's from "Bananas" by Woody Allen, who is still a much better comedian than these clowns, despite their best efforts.
But at least Boner is always ready to be a clown. Why else would he always be covered in that orange makeup?
look closer. its the makeup that gets smeared on his face from the affair he is having with someone "close to him". look closely, side by side, cheshire smiles.
(I watched way too much Batman as a kid, so whenever I see the word "cave" in a headline, I first think of underground construction.)
Which is where Republicans live.
Juanita Jean's blog (a.k.a. World's Most Dangerous Beauty Salon) has a classic line for what's going on in DC right now:
Texans will get the reference.
And we non-Texans (or maybe just this non-Texan) won't. Even a visit to JJ's blog didn't clear it up.
Is it fair to make others feel stupid gratuitously? Not that we don't feel that about ourselves, you understand.
¿Por favor?
If I remember right, El Degüello was the warcry for the Mexican Army during the raid on the Alamo.
El Degüello is the bugle call that the Mexican Army used at the Alamo. The name is related to "degollar", the Spanish verb for the act of cutting a throat - a more figurative meaning would be "take no prisoners."
Basically, playing El Degüello is a symbolic way of saying that you're about to swoop in and utterly annihilate your opposition.
It means "no quarter will be given."
My intent was no to make anyone feel stupid, so my apologies. And thanks to the other commenters who explained the reference.
They are itching to shut down the federal government; it's the tantrum of their dreams and they think their constituents are as hard for it as they are (they might want to ask Speaker Gingrich about that). But they don't dare do it while everyone is waiting for their tax returns. Come mid-May, they'll feel like it's their due.
i recall that the operational tactics they are using used to be called EXTORTION and it used to be against the law. Extortion = threatening harm to others if not paid by the intended victim.
I think we need to have the sequester and CR fights. Passing budgets is what Congress should be about, but the debt ceiling simply wasn't the place to fight.
Now if Shumer can deliver a budget from the Senate, the House and Senate can get down to the real work of creating a budget. That is going to be hard for some Republican members of Congress who were elected to burn the country down, not do the real work of democracy.
Ron Byers,
I think they just have a new, obscure, underhanded plan cooked up to burn down the country.
These people are never going to do the work of government. They weren't put there to do that. They were put there to obstruct and destroy. They are only doing their job.
Sadly, I believe India is correct! The GOTP congress seems overtly concerned about everything else but, what is good for the nation and what their responsibilities as federal legislators in fact are..
"Passing a budget" is passage of an irrelevant piece of paper with no legal standing or authority. No wonder the inbred traitors of the Republican Confederacy think it's important.
Hm, Congess must pass a budget by mid-April or it won't get paid.
Seems fair on the face of it, and in reality, they would be failing to do their job, so the logical quid pro quo is to also forego their usual compensation. But whom do you think would really be hurt by this? I seriously doubt that McConnell or Boehner live paycheck to paycheck. It may sound good to their increasingly desperate constituencies, hoping to be on the side of goodness and justice for once. I'm not buying it.
See my post above. "Passing a budget" has no value or power other than talking points for idiots.
I see what you're saying, TC. The budget is just an executive summary of sorts, explaining how Congress expects to allocate its total appropriations (spending).
From my research, certain appropriations are mandatory (such as Social Security) and do not require repeated consideration by the House and Senate or approval of the President. But each discretionary appropriation is proposed by the House or Senate, passed in its chamber of origin and sent to the other chamber; if it passes there, with or without amendments, it goes to the President for signature and then the money may be spent.
But the document called the Budget is largely for illustration and holds no obligation to provide funds. Is that it?
If so, it certainly shoots holes in the GOP's insistence on holding firm on the debt ceiling. They must have been at the table and participated in approving the expenses they are now threatening to default on.
I can't wait for Harry Reid to strip the unconstitutional portion of the bill out, and then send it back to the House...and watch them completely go batsh!+.
yeah, sure, and #NDAA? that was a gift from Carl Levin.
"Under the plan approved today, Congress won't get paid. (I'm still fairly confident that's unconstitutional, though the House doesn't seem to care.)"
Well, of course they don't care because it's just a gimmick. Does anyone really think that the avaricious GOP would put up such a plan unless they first made damn sure it had no chance of actually being carried out? Boehner and Cantor are counting on multiple "that's unconstitutional" yelps from within their caucus to scuttle this plan. Then all they have to do is shrug their shoulders with a "well, look, we tried to make ourselves accountable, but the Constitution says we can't" statement. In the meantime, they can then run endless 2014 campaign ads crowing about how they were willing to forego their own pay in service to the 'Merican people, when they never had any such intention of doing so. These guys never, ever miss a gimmick.
They took a page straight out of the Liberalism handbook.
Really? Please cite your source.
Thanks "Really?" for taking time out from your busy schedule fornicating your sheep over in WackoWorld, to come over here and remind us of how stupid and ignorant your stupidity and ignorance is, that you could qualify for residence in Upside-Down World, aka Wingnuttistan.
So with the debt ceiling suspended, does that mean the government can borrow as much as it likes -- say, enough to cover shortfalls that may occur over the next four years?
lmao. probably.
OTOH, it's true that the Hastert rule is typically defined exactly as you did (majority of the majority, or bill not brought to the floor). OTOH, it's also been my impression that Boehner has not been applying it as defined above, but has instead been applying it so as to not bring any bill to the floor unless it can pass with exclusively Republican support (a far higher standard, more like 90-95% of the majority). So this seems like it might be another, minor, crack in that rule.
and such a bill that would pass with 100% repuber support would then have to be something like..... imprison all non whites and make them work for what it costs to house them + corporate owner profits. if only they could get away with it.
"(I'm still fairly confident that's unconstitutional, though the House doesn't seem to care.)"
You can lead a horse('s ass) to read the Constitution ceremonially on opening day, but you can't make it understand.
funny thing about animals, they always take care of themselves, not others.
"When Obama didn't budge, the GOP's house of cards collapsed."
"When Obama didn't budge, the GOP's house of cards collapsed."
"When Obama didn't budge, the GOP's house of cards collapsed."
Once this passes the Senate and the debt ceiling no longer exists the Treasury can borrow enough money to cover operations for 5 years on 30 year bonds. That covers us through President Obama's administration and gives his successor a year to get something rational done.
Once the debt ceiling resets in May the outstanding bonds with the highest interest rates can be retired. The borrowing authority remains because any attempt to lower the debt ceiling could be vetoed. Because interest rates are so low, we'd save some interest expense as an added bonus. By publicizing that there will be no more bond sales for five years demand will be increased, further reducing the interest rate.
Is the Orange man turning Red from embarrassment? They should be in a cave becsause they have been hibernating for the last four tears and are bat crap crazy!
Pretty funny....if you threaten Democrats that they have to cut spending or the economy will crash....nothing happens......threaten to withhold their pay.....nothing is impossible.....
Another bullsh*t post from a troll that is full of sh*t.
How amazing.
No BS....just reality......speaking of reality....the last time you went on one of your name calling rants with me.....you were suspended...and I see you have been suspended a couple of times since then.....I tried to warn you but you wouldn't listen....Amazing Indeed.
Actually, you are full of bullsh*t. And the last time you went toe to toe with me YOU got suspended as well. And I see that YOU have been suspended three times after that. And you didn't warn me of anything. And you are still a bullsh*t troll. And I will continue to call you out for it, bullsh*t troll. So let's go. Do your best, you miserable @sshole. I am down for the fight. Thing is: are you?
Now you are lying.....I did not get suspended the last time we went toe to toe and I did try to warn you....see below......Please show what you are seeing that I have been suspended 4 times or even once.....You can't because it didn't happen. Go lie and troll on someone else's time.
True American Pat
I never threatened to have you banned....I told you that you will get yourself banned....big difference.
#38.24 - Mon Oct 22, 2012 2:27 PM ED
A troll with a mean case of projection too. How pathetic.
And you can post that stupid bullsh*t all you'd like but you did get suspended a total of four times.
And I don't have to show anything because your post shows exactly that: you were suspended and your comments removed, bullsh*t troll.
And I will stay on this site, idiot troll.
As far as another day long back and forth with you calling me names and breaking the rules....No thanks....I'm not going to get suspended for you......but apparently you don't care about getting suspended again....go antagonize someone else.
Pitty pat's post translated: "I am a miserable troll that is determined to have the last word because I have no life and am full of sh*t."
You're welcome.
Give it your best shot, pitty pat!
LOL!!!!
This is no cave for the GOP! They view this as a victory. They will keep dragging this out to sap consumer confidence. Keep the market unstable, and then turn around and accuse the Obama administration of not leading.
We, the people, must remember it is up to congress to budget the money/pay the bills. It is up to the president, and henceforth the president's administration, To ensure that Congress is not acting destructively with their budgetary authority. Congress has the power of the purse, but Congress shall not use their power of the purse to force their policy agenda on the American citizenry.
I expect only silence out of the Right when the President has the SOTU address.
XXX OOO,
Quiet? As in sitting on their hands with their thumbs in their usual position? For posterity sake, of course!
It was all for the budget that’s going to be declared in May and so the debt ceiling was suspended. The proposal was all based on the Republican votes on which the GOP members were relied anxiously. quickloan uk
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