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DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!

 
Luisport (OP)

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10/13/2013 04:46 PM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
POLITICO ‏@politico 2 m
House Republicans sidelined, Durbin says [link to politi.co]
Luisport (OP)

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10/13/2013 04:55 PM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
Mark Knoller ‏@markknoller 1 min
But Senate adjourning till 2PM tomorrow.
Luisport (OP)

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10/13/2013 05:03 PM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
POLITICO ‏@politico 1 min
‘Dangerous’ Lindsey Graham vents frustrations at all, @BresPolitico reports: [link to politi.co]
Luisport (OP)

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10/13/2013 05:11 PM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
Spending stumbling block to budget deal

After inconclusive talks between President Barack Obama and House Republicans, Senate Majority Leader Harry Reid, D-Nev., and Minority Leader Mitch McConnell, R-Ky., took charge in trying to end the crises, although a conversation Sunday afternoon failed to break the stalemate.

"Americans want Congress to compromise," Reid said at the start of a rare Sunday session in the Senate, during which he pressed for a long-term budget deal.

The two cagy negotiators are at loggerheads over Democratic demands to undo or change the automatic, across-the-board spending cuts to domestic and defense programs that the GOP see as crucial to reducing the nation's deficit.

The latest snag comes as 350,000 federal workers remain idle, hundreds of thousands more work without pay and an array of government services, from home loan applications to environmental inspections, were on hold on the 13th day of the shutdown.

Several parks and monuments remain closed, drawing a protest at the National World War II Memorial on Sunday that included tea party-backed lawmakers who had unsuccessfully demanded defunding of President Barack Obama's 3-year-old health care law in exchange for keeping the government open.

Christine Lagarde, the International Monetary Fund's managing director, spoke fearfully about the disruption and uncertainty, warning of a "risk of tipping, yet again, into recession" after the fitful recovery from 2008. The reaction of world financial markets and the Dow Jones on Monday will influence any congressional talks.

McConnell and Republicans want to continue current spending at $986.7 billion and leave untouched the new round of cuts in January, commonly known as sequester, that would reduce the amount to $967 billion.

Democrats want to figure out a way to undo the reductions, plus a long-term extension of the debt limit increase and a short-term spending bill to reopen the government.

"Republicans want to do it with entitlement cuts," said Sen. Chuck Schumer, D-N.Y. "Democrats want to do it with a mix of mandatory cuts, some entitlements and revenues. And so how do you overcome that dilemma? We're not going to overcome it in the next day or two."

He suggested keeping the government running through mid-January.

Republicans dismiss the latest request as Reid moving the goalposts in negotiations as they were getting closer to resolving the stalemate that has paralyzed Washington. They also argue that it is disingenuous for Democrats to resist any changes in the 3-year-old health care law while trying to undo the 2011 budget law that put the cuts on track.

[link to bostonherald.com]
 Quoting: Swirling Purple
Luisport (OP)

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10/13/2013 05:14 PM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
POLITICO ‏@politico 52 s
How the Collins budget plan collapsed, @seungminkim reports: [link to politi.co]
Luisport (OP)

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10/13/2013 05:16 PM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
zerohedge ‏@zerohedge 2 min
As Goldman reminds, unlike prior years in 2013 two status quo deadlines have already been breached [link to www.zerohedge.com] …
Luisport (OP)

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
POLITICO ‏@politico 1 m
Rand Paul: Going through debt ceiling 'not a good idea' [link to politi.co]
Luisport (OP)

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10/14/2013 02:38 AM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
Gregor Peter ‏@L0gg0l 7h
House GOP working on bill for 6 week extension of debt limit. Vote tomorrow or Tuesday -- @robertcostanro
Luisport (OP)

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10/14/2013 02:40 AM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
Bloomberg News ‏@BloombergNews 6h
Voters, investors put little pressure on President Obama, Congress to resolve fiscal standoff | [link to bloom.bg]
Luisport (OP)

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10/14/2013 02:43 AM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!

POLITICO ‏@politico 3 h
Reid on the #shutdown: “I’m optimistic about the prospects for a positive conclusion." [link to politi.co]

POLITICO ‏@politico 4 h
Klobuchar and Collins see a deal to avert the government #shutdown by Thursday: [link to politi.co]
Luisport (OP)

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10/14/2013 03:16 AM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
POLITICO ‏@politico 17 s
House floor tactics spill into acrimony [link to politi.co]
Anonymous Coward
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10/14/2013 03:36 AM
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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
What do you think guys, default or not ?
Luisport (OP)

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10/14/2013 03:38 AM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
What do you think guys, default or not ?
 Quoting: Anonymous Coward 48104462


they will kik the can down some weeks, but S&P will downgrade US on same way... damadge is done!
Luisport (OP)

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10/14/2013 04:06 AM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
POLITICO ‏@politico 3 min
Senate chaplain knocks shutdown 'insanity' [link to politi.co]
Luisport (OP)

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10/14/2013 04:06 AM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
Business Insider ‏@businessinsider 1 min
US Futures Heading Lower As Deadline Approaches Without A Deal [link to read.bi]
NightWisp

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10/14/2013 04:23 AM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
The GOP is working it butt off. What are the DIMs doing? Sitting on their thumbs while twittling them?

Seems they do nothing and let the GOP do all the work.. and then say "NO" because thy are not going to agree to anything.
Luisport (OP)

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10/14/2013 04:25 AM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
The GOP is working it butt off. What are the DIMs doing? Sitting on their thumbs while twittling them?

Seems they do nothing and let the GOP do all the work.. and then say "NO" because thy are not going to agree to anything.
 Quoting: NightWisp


hiding
Luisport (OP)

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10/14/2013 04:27 AM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
Business Insider ‏@businessinsider 4 min
There's A New Twist In The Debt Ceiling Fight That Could Make The Situation Even Harder [link to read.bi]
Luisport (OP)

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10/14/2013 04:28 AM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
Business Insider ‏@businessinsider 1 min
GOLDMAN: Government Shutdown Could Shave 0.5% Of Q4 GDP [link to read.bi]
Luisport (OP)

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10/14/2013 04:34 AM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
On Saturday morning, House Speaker John Boehner told his Republican colleagues that talks between him and The President had broken down, and that the situation had moved to the Senate to see if they could work something out.

At the time he said that, it looked like momentum was building around a plan put forth by Maine Senator Susan Collins to both reopen the government and raise the debt ceiling, and the idea was to pass that in the Senate, and then "jam" the House, forcing House Republicans to take up the bill as a last-second vehicle to avoid a debt ceiling disaster.

But the Democrats swatted down the Collins bill, and then Senate leadership proceeded to spend the rest of the weekend making no outward progress.

And so the House may come back into the picture.

POLITICO reports that the House GOP is considering its own last-minute 6-week debt ceiling hike, although though the bill would be anything but the "clean" bill the President has asked for.

Attaching the so-called Vitter amendment to the debt-limit increase is one option, according to House GOP sources. That provision would end health-insurance subsidies for members of Congress, their aides and other federal government employees. Another option is delaying or repealing the medical device tax. Reid and Senate Democrats have opposed both proposals so far, but with the debt limit clock ticking, House Republicans may have more leverage now.

Also according to Robert Costa, the bill could have some kind of income verification for Obamacare enrollees as well as a bill pushed by Congressman Lankford that would automatically cut spending in the event of a government shutdown, which seems like a clear poison pill.

If the Senate can't act soon, the House might pass this, and then you'll have a situation in which the only bill to raise the debt ceiling is something the Senate would never sign, with the House feeling as though it had done its work.


Read more: [link to www.businessinsider.com]
Luisport (OP)

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10/14/2013 04:36 AM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
POLITICO ‏@politico 1 min
"It is time to tell Congress to go to hell." [link to politi.co]
Luisport (OP)

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10/14/2013 05:43 AM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!

POLITICO ‏@politico 9 min
Overnight news: Jim VandeHei named president, CEO of POLITICO and Capital New York [link to politi.co]

POLITICO ‏@politico 41 min
It’s all on Harry Reid and Mitch McConnell now: [link to politi.co]
Luisport (OP)

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10/14/2013 05:47 AM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
Business Insider ‏@businessinsider 59 m
Here's A Debt Ceiling Disaster Scenario That Doesn't Involve "Default" [link to read.bi]
Luisport (OP)

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10/14/2013 05:54 AM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
We're just a few days away now from October 17, the date that the Treasury has given as the point at which it will have exhausted its special measures to maintain borrowing under the legal debt ceiling.

If we go past that date without a deal to raise the debt ceiling, we'll be in uncharted territory, and people can only try to guess what series of measures will be taken by the government, and what the economic ramifications would be.

Zachary Goldfarb and Jim Tankersley at The Washington Post have a nice look at what a post-debt ceiling economy would look like, and the scary thing is that it could be very bad even if you assume there's some way to go on without an out-and-out default on the nation's debt.

According to the Bipartisan Policy Center, which has done the most detailed analysis of federal finances in a debt-ceiling breach, administration officials would have to consider delaying or suspending tens of billions of dollars in critical payments to low-income people and seniors.

Under the most alarming scenario, as soon as Friday, payments to Medicare and Medicaid providers, unemployment benefits, Social Security checks and tax refunds would be postponed for one to four days.

Food stamps due to be distributed Oct. 25 could be held until Oct. 30. The same would happen to payments to defense contractors.

With huge payments due in early November, the situation would become grimmer. Nearly $60 billion in Social Security checks, veterans benefits and pay for active-duty troops is due Nov. 1. Those could be delayed nearly two weeks, according to the Bipartisan Policy Center’s analysis.

Needless to say, just this new dose of austerity could wallop the economy at a time when consumer confidence is already in a state of freefall.

Gallup's economic confidence index cratered further over the weekend to one of the lowest levels since the Great Financial Crisis.

It's easy to imagine this turning into a new recession if it goes on for any length of time. Remember, Goldman has said that in a debt ceiling breach, you can say goodbye to over 4% of GDP.

There's an assumption that a swift market reaction would force a deal very shortly, but you can't be too sure how things play out, and a spiraling crisis could cause parties to dig in even further, and blame the other side instead.

We should know very soon what the impact of all this would be, as earnings season is starting up in earnest, and corporate managers will have reads on what Q4 economic/consumer activity is looking like.


Read more: [link to www.businessinsider.com]
Luisport (OP)

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10/14/2013 06:35 AM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
POLITICO ‏@politico 8 min
Leading @POLITICO this morning: Not everyone is confident that Obama has effectively sidelined Republicans: [link to politi.co]
Luisport (OP)

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10/14/2013 06:46 AM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
POLITICO ‏@politico 53 s
U.S. never defaulted on its debt? Not so fast. America has stiffed creditors on at least two occasions: [link to politi.co]
Luisport (OP)

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10/14/2013 06:53 AM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
POLITICO ‏@politico 3 min
.@MarkHalperin says all that's left for Republicans is negotiating “terms of surrender ” [link to politi.co] via @TalKopan
Luisport (OP)

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10/14/2013 07:18 AM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
POLITICO ‏@politico 1 m
With the election 2 days away, @CoryBooker's lead shrinks in New Jersey, a poll says: [link to politi.co]
Luisport (OP)

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10/14/2013 07:19 AM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
Gerald F Seib ‏@GeraldFSeib 2 min
Banks not amused by Washington's debt-ceiling brinksmanship; they're starting to shed short-term Treasury bills. [link to on.wsj.com]
Luisport (OP)

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10/14/2013 07:22 AM

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Re: DAY 16 US GOV SHUTDOWN: Boehner said to deliver 50 Rep votes for senate deal. 17 needed!!!
zerohedge ‏@zerohedge 13 s
The "Truckers Ride for the Constitution" that threatened to gum up traffic in the capital was a dud [link to online.wsj.com] …

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