Posted on 09/29/2013 11:35:15 AM PDT by whitedog57
The House passed a continuing resolution without Obamacare funding, the Senate put Obamacare back in the continuing resolution, and now the ball in the House’s court with only days to go …. to government shutdown!
The Republican-led U.S. House voted to attach a one-year delay of Obamacare to a must-pass spending bill, dramatically raising the likelihood of a partial government shutdown Oct. 1.
So, it appears that Senate Democrats will shut down the Federal government, at least for a few days, if they don’t go along with Boehner’s demands of … delaying Obamacare for 1 year and getting rid of the medical device tax.
Zero Hedge has a nice summary of the negatives associated with a government shutdown. Suffice it to say, it is all about the crippling Obamacare legislation.
Regardless of the government shutdown or not, labor force participation rate will continue to fall along with M2 Money Velocity.
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But what about a default since? the government could miss interest payments on Treasuries, triggering a first-ever default by the U.S. government. U.S. Treasuries are held by banks, governments and individuals worldwide. Ultimately, a prolonged default could lead to a global financial crisis.
But what do financial markets think? 5 year credit default swaps (CDS) for the US are still very low, about the same as Switzerland.
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But US 5 year CDS prices have risen in the last two weeks from 24 to 32.
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The VIX (the Chicago Board Options Exchange Volatility Index that reflects a market estimate of future volatility) rose slightly on Friday.
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The US Treasury 10 year yield fell almost 7 basis points on Friday, but rallied at the end of the day. So not much going on there (down 2.5 basis points on Friday).
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And gold prices are not reflecting any risk of government default either.
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So, the market is pricing in a low probability of default for the US. But with $17 trillion in Federal Debt and $70 trillion in off-balance sheet liabilities, …
But fear not. If you are a taxpayer, your share of unfunded liabilities is $1.1 million EACH. And if you don’t pay Federal taxes like 43% of Americans, you also get an Obamacare subsidy for healthcare.
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I will check the market reaction on Monday. It could be an exciting day.
shut it down
Who here expected anything different? Palin/Cruz 2016.
A DELAY is NOT a “cave” this is a stupid headline.
I am actually proud of our Speaker for once, he is being smart.
What? The senate caved.
The house voted to defund and now voted to delay. Blame Boehner all you want but the problem is in the senate.
Cave? Not so much.
I think what they’re showing is that the US Senate won’t agree to anything....getting rid of that stupid tax on medical equipment, paying the troops...nothing.
Bump. Methinks that the some Dems are drooling over a shut-down because they (the MSM) will blame the Pubbies. But, there are enough variables to call this a risk. IMO, time is on the side of the House Republicans. The longer the shut-down lasts, the longer the Pubbies have to get a message out, and yes that is risky too. And for the love of all things good, the Pubs have the moral high ground. Obamacare is a nightmare no matter how it is reviewed.
If the Dems finally get cornered and allow Monstercare to be defunded for any length of time, they concede that there position is the wrong one and allow the Pubs to have the ball. wait...what's that...oh, sorry I just had a major dose of reality slap me in the head. Never mind.
Obama has found it very easy to advance his narrow ideological agenda of failure-prone Marxism.
4 years after Obama conned his Democrats into passing the Federal takeover of the cash cow of Medical Insurance, the PC, Doormat Republicans are finally timidly suggesting defunding that Federal takeover.
Without the weak, PC, Doormat Republicans Boehner and McConnell being stupidly kept in their respective leadership positions by truly cowardly House and Senate Members, Obama Medical Insurance “Care” Takeover would have been defunded long ago.
The primal yearning of the 47 % who pay no personal Federal Income tax is to belong to a tribe where all of their choices are dictated to them by their arrogant tribal leader.
This a common trait of those who have low self-esteem.
In that sense, Obamanation is truly a cult.
Freedom is defined in the dictionary as follows:
1.) Exemption or liberation from slavery or imprisonment.
3.) Liberty of choice or action.
Most of the 47 % riding in the “free” wagon seek out slavery, and lack of personal choice.
They thus feel safe.
Liberty is defined in the dictionary as follows:
1.) The state of being exempt from the domination of others or from restricting circumstances; freedom.
5.) The power of voluntary choice: freedom from necessity.
6.) Individual Liberty: Freedom from restraint in the performance of rights outside of government control.
Most people who are getting a free ride in the wagon where 47 % pay no personal Federal Income Taxes, are terrified of making a voluntary choice.
The 47 % would prefer that they be under government control where the choices are made for him.
All of this societal wussiness has made it very easy for B. Hussein Obama, aka Barry Soetoro, to advance his narrow ideological agenda of European-style, failure-prone, Marxism in spite of PC, Doormat Republican token “opposition.”
BTW, unlike taxes, Federal Obama ‘care’ Insurance charges can be increased EVERY YEAR to whatever % the present and future arrogant leaders of Obamanation wants.
BTW, BTW, the free-loading 47 % will always vote for the Candidate for POTUS approved by Obamanation.
How did Boehner cave when Reid says the bill DOA? I support Cruz’s position, but this article is nonsensical.
Although not the best he could do, this move for boner is the boldest he has ever done, in that there is no time to backtrack.
I can see him at home now curled up under a blanket in the fetal position, crying...what did I do...What Did I do...WHAT DID I DO...
Correct.
Correct.
Yes, correct again.
Yes, Reid is the inflexable one.
Exactly right. Reid and 0bama are the ones forcing a shutdown - that they are confident can be blamed on the House.
They enjoy being a minority .
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