Skip to comments.NYT: Boehner indicates flexibilty on debt limit
Posted on 10/03/2013 10:26:52 AM PDT by illiac
WASHINGTON (MarketWatch) -- House Speaker John Boehner has told colleagues he's determined to prevent a federal default and is willing to pass a bill raising the debt limit with both Republican and Democratic votes, the New York Times is reporting.
(Excerpt) Read more at marketwatch.com ...
We will see. Sounds like agitprop.
Boener being played again. Obama spooks Wall St, they oblige and Boehner blinks.
Didn’t we go through this last year?
How about this time we don’t cave to the Democrats? We tried your way Democrats, it didn’t work. This time it’s our way.
Oh that’s right, Vichy Boehner is in charge... never mind.
Obama and Boner played into Cruz’ hands. Primaries are coming and Cruz has effectively split the GOP into two camps. Even if Boner survives the primary he’s done as speaker. Now conservatives are poised to take over the House and Senate far better than before.
Betraying Brain-less Ball-less Bawling Bone-less Bohner...
If he tries to raise taxes, depose him immediately.
Huff, puff, cry, cave. Repeat as necessary.
Default occurs only when interest payments cannot be made, which the FedGov can absolutely make with existing revenue.
No increase. Conservatives need to fight as hard for this as we have for holding the line against Obamacide.
correct, likely agitprop similar to email releases.
As Patton crosses the Elbe and Zhuhov encircles Berlin, General Boehner offers his unconditional surrender to the Axis.
We’re being sprayed on by Agent Orange.
Did the people who own Lear jets get taxed?
While I’m skeptical of Boehner’s ability as speaker, I could see Boehner trying to play it out this way: He offers up raising the debt ceiling as a way to get 0bama to the table. It might be a sound strategy, except for one thing.
0bama is a communist.
Anyone who re-elects this Nasty Pelooser impressionist is crazy!
You forgot “Boozy.”
Betraying Boozing Brain-less Ball-less Bawling Bone-less Bohner...
He wanted to fold with Obamacare, but he can't whip the votes. The Republicans in the House fear their constituents more than Boehner. Cruz changed the playing field.
But there hasn't been any Cruz-like leadership regarding the debt ceiling --yet.
Are you saying just no increase whatsoever, never? And just see where the chips fall? Really?
You know what I would do if I was House GOP leadership? I’d pass a 4-part debt limit increase immediately, call it the 5/4/3/2 plan:
1. +500B effective 10/01/13
2. +400B effective 10/01/14
3. +300B effective 10/01/15
4. +200B extra, effective 07/01/14 if Administration OK’s Keystone XL prior to 11/01/13 and does not subsequently obstruct.
We have to stay ahead of the markets, if there is going to be a panic let it be while the issue is being fumbled in the Senate, not in the House.
We’re not going to win the Debt Ceiling fight and the sooner we get it out of our hands and into their’s the better. Come up with something that’s both 1) reasonable, and 2) something The Demagogues won’t like, and force them to deal with it. Then we get much better coverage and messaging. It’s too fair an offer for The Demagogues to reject:
1) If the Senate says no, then the market will convulse and it will be The Demagogue’s fault.
2) If gets passed, Obama should be able to keep the Debt increase under $700B, but not likely $500B, so he has no choice but to approve Keystone; but if he rejects KXL, he’ll look bad if he can’t make a $500B increase in credit line last 12 months. And even worse for saying “No” to good public policy like Keystone.
Business/Markets will like the 500/400/300/200 plan because it pushes the issue out another 12 months; Conservatives ought to like it because it embeds a slowing growth of debt. And both will like it because it takes another shot at Keystone, which is a very good issue for us. To moderates it will look reasonable and responsible. And it will drive The Demagogues crazy!
Keystone is a very popular idea, and (almost) everyone accepts that some kind of short term debt limit increase is necessary. For any sane person it is a win-win to offer both to Obama; it will be easy to crush him if he says no. There is no Grand Bargain with this guy - he will just string us along because he thinks we will take the blame. It is all political with him. It is only political with him.
We have to pass some kind of debt ceiling deal before the market pukes and has like a 500 or 1000 point drop. That will be our fault, we’ll fold like a cheap suit like we did with TARP, and it will be embarrassing.
He offers up raising the debt ceiling as a way to get 0bama to the table.
What’s another trillion or two added to the debt at this point? We’re already beyond the point of no return. The ceiling will continue going up until it can’t (i.e., a mathematical limit to taxing, borrowing and printing which we’ve nearly exhausted).
The country has a ‘shop till you drop’ mentality. We’re not far from the drop.
An important distinction. Thanks for that.
It is easy to recognize the obvious PONZI SCHEME called Obamacare.
Obamacare has nothing to do with health, care, or medicine.
Obamacare has EVERYTHING to do with insurance.
Obamacare is a Federal Insurance Monopoly.
Obamacare is in violation of US Anti-Trust Laws.
Obamacare is a Federal Insurance Premium Collection Agency, aka FIPCA for Obamacare.
We CONSERVATIVES know that there will be other future Federal Insurance Ponzi Schemes, right down to the Insurance Premium collected for the inhaling of the EPA ruled toxic gas CO2.
Then FIPCA will be there to collect that CO2 Insurance premium from all citizens.
But I digress, so let us focus on the present.
If Boehner Caves In to the Court of Public Opinion, which is run by the Low Information Liberal Mainstream Media, and Obamacare is funded, Obama can then raise every year or quarter his Obamacare insurance premiums as high as he wants to, and the sorry US Congress cant do anything about it.
Congress will thus be bypassed, and will no longer be needed in the future to fund the vote buying schemes of the social engineering POTUS.
Could Boehner be stupid enough to come up with his own Boehnercare Ponzi Scheme?
The debt limit is different than the CR, but both are the based on economic abominations: The CR is because there isn’t a budget, and the debt is because we spend more than we take in.
That simple: GET a budget AND spend only our income.
I don’t know what’s hard about that.
They will allow more debt. They don’t know how to do it otherwise. However, there should be a daily trigger on the debt that prevents expenditures above a certain rate.
Opening up a mega-billion dollar line of credit doesn’t mean you can spend it all in the first week and then complain that you need more. It needs to be based on a period of time, a rate of expenditure that consumes only 85% or less of the allowed amount in that period of time to cover unforeseen contingencies, and a shut-down of spending if that rate is exceeded.
As Professor Higgins once said, "I think she's got it!"
I think you’re onto something here. I would suggest however building in some more conditions like you did in the 200B part. That is, attach a couple more conditions to each of the 5/4/3 increases. The 500B, for example, should have some type of curb on Obamacare. Then add other desirable economic concessions to the remaining two parts.
Because they all operate on the unquestioned premise that they must spend more money than they take in taxes.
He’s already pushed us way passed the point of sanity. Why would he stop now?
If being flippant , not funny to those that have been.
It’s not caving if you’re getting what you want. What’s happening will only make sense when we realize Boehner is getting what he wants. Actions match philosophy.
Sounds like agitprop.
NYT. Planted and slanted. Same ole, same ole for the NYT.
Light up the phone lines!
Why is this an issue? Debt payments are covered in the “shutdown”. Not raising the debt ceiling does not prevent the government from spending money, it prevents it from BORROWING MORE money. Debt payments, social security benefits, military retirement can continue to be paid.
Possibly, but we have to keep it simple. If not Keystone, then maybe something else, but keep it simple. It has to be a no-brainer, and I think KXL is about as no-brainer as it gets. Even the State Dept says it’s a no-brainer. It’s the simplest, dumbest policy decision of the Administration.
Attaching Obamacare conditions to the DebtCeiling has potentially disastrous consequences for us, for The Demagogues, and for America. Is this where the conservative movement wants to make its last stand...? It’s a negative sum game.
I think the deal is being struck. We get either an Obamacare delay, and/or no exemptions for Congress and Senate Staff, and Obama gets an unlimited credit card to deal the Death Blow to America.
Briefly thereafter, a new bill will be passed to exempt Congress and Senate Staff from Obamacare, and Obama will simply order Obamacare implemented anyways.
We get to theoretically ‘save face’ and Obama gets absolutely every last thing he wants.
America, of course, collapses five years earlier than it would have otherwise.
Heckuva job, guys!
Attaching Obamacare conditions to the DebtCeiling has potentially disastrous consequences for us
Obamacare itself has potentially disastrous consequences for us. And not just financial. Obamacare is just the fist step toward single payer, completely government run healthcare and socialized medicine. Poor care with astronomical costs that will devastate the economy.
You’ll have to take my word for it. The wheels are already in motion to establish single payer. Obamacare is just the gateway for it.
I’ve been reading that if the limit is raised without cuts we’ll probably get another downgrade PLUS hyper inflation could set in just in time for next year’s elections.
Federal debt interest payments are 6% of the federal budget and 9% of tax receipts. So a refusal to increase the debt ceiling does not require a default on the debt.
Social Security payments are 22% of the federal budget and 31% of tax receipts.
Defense, national security, veterans benefits and federal retirees take up something like 30% of the budget and 42% of tax receipts.
So with just over 80% of the taxes that the government actually takes in, we should be able to pay for debt service, national security, social security and federal retirees.
To accept the Obama’s sky is falling default scenario, one has to assume that the President has no authority to prioritize among authorized federal spending in the event of a shortfall, so that if the government ran even one penny short, they would have no ability to pay anyone anything. I think the reality is that the President would have to decide on his own, pending a law being enacted giving him direction, what to spend money and what not to.
Why, he’s more flexible than a Roumanian girl gymnast.
Jellyfish look upon his flexibility with great awe and envy.
Silly Putty hangs its head in defeat after witnessing the inhuman elasticity of Speaker Boehner.
Slinky hides under the bed with the dust bunnies, whimpering in shame.
Plastic Man concedes his crown to Speaker Boehner, stating, “That Speaker Dude, I don’t know, he’s like more slippery than that thing in Terminator Two you know. It’s like he doesn’t have any spine at all. He’s like... like, like a puddle or something. Yeah, like a puddle of Scotch.”
Agreed, you don’t need to convince me the trajectory is Single Payer, and we need to shoot it down. But is now the right time, and the Debt Ceiling the right way? Or is it better to hold the House and pick up the Senate, then really assail the President?
I say “probably better” to picking up the Senate first. I doubt we can win the battle at this time, but if we use Shutdown as leverage the consequences of failure are limited; if we use the Debt Ceiling, we may lose the battle and the war, and get wiped off the map.
To use Patton’s words, is this where us poor dumb bastards die for our Country?
Does anyone even know what our game plan is? Just fold our arms and wait until the President capitulates and agrees to wait a year with the Individual Mandate? That’s our plan? What if he doesn’t? We’re not Syria, with us his Red Lines might actually be for real...
It’s easy to be flexible when you have no spine.
Does anyone even know what our game plan is?
I believe the plan is to submit small funding bills one at a time. It is a potential winner and Dems hate/fear that approach. Everyday submit three more bills. Shows the Republicans are trying to fund essential government operations.
Congress has the power of the purse. The president and Senate need to be reminded of that simple fact. If congress abdicates that responsibility, all is lost.
If they cave on this why not simply merge parties and have a 1 party system?
From the NY times...sounds like they’re trying to divide and conquer...hold the line!
DO NOT TRUST THE NEW YORK TIMES. That is all.