Posts Tagged ‘default

16
Oct
13

Rise and Shine

****

Today:

The President has no scheduled public events, but…..

12:30 EDT: Jay Carney briefs the press

****

Steve Benen: As debt deadline nears, now what?

In an unexpected twist, the political world starts today with circumstances that look eerily similar to those from 24 hours ago: a bipartisan Senate deal is taking shape and a fractured House remains unpredictable. The point of yesterday, apparently, was to waste a day, humiliate House Speaker John Boehner (R-Ohio), and bring the nation just a little closer to default.

After House Republicans rejected a series of desperate attempts by Boehner to make them happy, attention turned back to the Senate, which waited until after the lower chamber imploded to renew its talks. By all appearances, the basic framework of an agreement is in place.

More here

****

****

Michael Tomasky: Senate Debt Ceiling Deal Won’t Mean This Chaos Is Over. Far From It.

Tuesday might have ended with the Senate on the cusp of a deal to avert a default, but it also featured Boehner bowing and scraping to his House crazies to come up with a competing plan that failed.

This is a sad and sickening spectacle, like nothing I’ve ever seen in my life. Not as bad as Watergate, you say? I beg to differ. However this turns out this has been in its way worse than Watergate. Watergate ultimately vindicated our system against the machinations of one sociopath. It took time, because he was a president. But even he ultimately observed democratic norms and, when cornered, did the honorable thing.

Today, we have a clavern of sociopaths who know nothing of honor, and we have no easy way to stop them. Except at the ballot box. Except that they’ve rigged that, too, with their House districts. They’ve rigged the whole game so that they light the match and then point at President Obama and shout: “Look! Fire!” And overseeing it all is House Speaker John Boehner, as of Tuesday officially the worst high-ranking elected officer in the history of the United States.

More here

****

****

Dana Milbank: Republicans are at a dead end

Here’s how grave the House Republicans’ condition has become: They’re now in the care of a mortician.

In the early minutes of a marathon meeting of House Republicans on Tuesday morning, Rep. Steve Southerland, a funeral director from Florida, rose to suggest the lawmakers sing “Amazing Grace” — and his colleagues joined him in a rendition of the burial hymn.

Yea, when this flesh and heart shall fail,

And mortal life shall cease,

I shall possess within the veil,

A life of joy and peace.

It was an appropriate choice, for the House GOP is practicing its own form of mortuary science: It is burying both the Republican brand and America’s standing in the world.

More here

****

****

Charles Pierce: Reign Of Morons: Apotheosis

…. A great portion of the courtier press that now expresses horror at what is going on now went gleefully along for the ride as it became inevitable. Any members of that courtier press who relished the pursuit of Bill Clinton’s penis, or conducted the absurd campaign of untruth that was waged against Al Gore between 1999 and 2000 lost the right years ago credibly to denounce conservative extremism and Republican vandalism.

That means you, Roger Simon of Politico, who was so shocked the other day to discover that racism may have afflicted the process of government since the president’s election, but who once claimed to right to make candidates like Gore “jump through hoops” for the pure hella-fun of it.

That means you, Chris Matthews, who chased the presidential dick for two years, all the way through an impeachment process that was a constitutional absurdity, but who now discovers that the campaign of destruction never truly stopped.

That means you, Andrew Sullivan, with your current existential torment over How It Came To This….

…… This means all of you who went along for the ride on torture, and on Iraq, and who hid under the bed after 9/11. This is how the power came to rest with Ted Yoho, who is a fool and a know-nothing. This is how historical inevitability is created. This is how its momentum becomes unstoppable. This is how the wreckage piles up.

Full post here

****

****

Bob Cesca: Why Isn’t the GOP Complaining About the Deficit? Because It’s Dropping — Fast.

As we careen headlong toward the debt ceiling deadline, with the House Republicans and Speaker John Boehner in full Three-Stooges-Trying-To-Fix-The-Plumbing mode, the issue area that’s been overshadowed by the grandstanding, political props and brinksmanship is government spending itself.

The budget deficit is really the 4,000 pound gorilla in the room and the Republicans refuse to discuss anything other than the fact that employer mandate for the dreaded Affordable Care Act begins a year after the individual mandate. Yes, we’re in the middle of a showdown over the debt because of Obamacare rather than, you know, spending and fiscal responsibility.

Why aren’t they talking about the deficit? That’s easy: they can’t say anything bad about it because the Obama administration’s record on the deficit is kind of stellar.

More here

****

****

TPM: McCain: ‘Republicans Have To Understand We Have Lost This Battle’

With the government shutdown in its third week and the United States dangerously close to the debt limit, Sen. John McCain (R-AZ) urged members of his party on Tuesday to stop digging.

“It’s very, very serious,” McCain said, as quoted by the New York Times. “Republicans have to understand we have lost this battle, as I predicted weeks ago, that we would not be able to win because we were demanding something that was not achievable.”

More here

****

****

David Cay Johnston (Al Jazeera): Tea party Republicans put dollar’s reputation at risk

Barring an accident of political brinksmanship, the United States will not default on its debts and other obligations.

Economic conditions provide exactly zero reasons to worry that the U.S. cannot service its debts. The danger in the current crisis, therefore, is not catastrophic economic collapse.

Rather, the danger is that the House’s tea party Republicans, in their zeal to block President Barack Obama’s policies, especially on health care, have damaged investors’ long-term trust in the U.S. government. And by thwarting the principle of majority rule, they have demonstrated a disrupting power that they may wield into the next decade, causing further erosion in confidence.

More here

****

ThinkProgress

****

****

ThinkProgress: Houston Chronicle Yanks Ted Cruz Endorsement

As the federal government enters its sixteenth day of shutdown and stands just hours away from defaulting on the national debt, the largest newspaper in Texas has pulled its endorsement of Sen. Ted Cruz (R-TX). The conservative lawmaker delivered a 21-hour speech on Sep. 24, urging Senate and House Republicans to vote against any government funding measure that includes appropriations for President Obama’s Affordable Care Act, and is viewed as at least partially responsible for the current impasse.

More here

Screw them for endorsing him in the first place – they helped get the ****er elected.

****

****

A Year Ago Today:

****

****

On This Day:

President Obama, First Lady Michelle Obama, Vice President Biden and Dr. Jill Biden link arms and sing “We Shall Overcome” during the dedication ceremony for the Martin Luther King Jr. National Memorial in Washington, D.C., Sunday, Oct. 16, 2011 Joining them, from left, are: Harry Johnson, Sr.; Interior Secretary Ken Salazar; and Herman “Skip” Mason (Photo by Pete Souza)

President Obama says goodbye to former President George H. W. Bush and former Secretary of State James A. Baker, prior to departure from Easterwood Field landing zone, in College Station, Texas, Oct. 16, 2009 (Photo by Pete Souza)

Neighbors in West Newton, Mass., react as the President headed their way after speaking at an event next door, Oct. 16, 2010 (Photo by Pete Souza)

*****

Morning everyone, looks like it’ll be a long day.

09
Oct
13

Boehner Won’t let GOP House Meet Pres Obama Because He Fears Baltimore Massacre 2.0

Boehner Won’t let House GOP meet Pres Obama because he Fears Baltimore Massacre 2.0

by @zizii2

****

A quick trip down memory lane. Democrats had suffered a crushing blow on no other day than the 1st Anniversary of Pres Obama’s Inauguration into office. Jan 20, 2010. We had lost Sen Ted Kennedy’s seat. The fate of the Healthcare bill hung in a balance. It had passed the House earlier in December 2009. The Senate version passed in a cliffhanger moment with ailing WV Senator Robert Bird being wheeled in, and Sen Sherrod Brown flown in by WH straight from a funeral, to cast the critical filibuster-proof vote just a breath before Christmas Day 2009 rolled in, and start of congressional winter recess.

****

But come January 2010, the two bills needed to be reconciled. On this anniversary date, Scott Brown trounced Martha Cokeley in the MA senate special election. Democrats’ threadbare 60 filibuster-proof caucus, gone. Healthcare reform teetered on brink of collapse. Many Very Serious People in the Beltway, pundits and Democrats told the President to give or radically scale back his Healthcare quest. Chief of Staff Rahm Emanuel read him the “Political-Implications-Riot-Act.” WH was in a deep funk.

****

Then came the Republican House’s grand invitation to Pres Obama visit their caucus retreat in Baltimore, MD. They probably wanted to humiliate the president for his recent loss, through fake chivalry.

****

WH RSVPed with one tiny request, whose acceptance a House GOP member later said was the biggest mistake they ever made. Pres Obama had asked to bring camera crew along.

****

First were his opening remarks calling for both parties to work together:

****

There’s a reason that the 1 hr 20 minute Q&A section that followed these opening remarks shook the Beltway political universe, prompting media calls for British-style “Prime Minister’s question Time” tradition to be established here in the US, to engender real dialog among political parties. Of course GOP rejected the idea and it fizzled. But for many Democrats, what became known as The Baltimore Massacre, would be grist for partisan loremaking. One man. 183 GOP congresscritters & their families. (Sinews taut). Room darkened, spotlight on POTUS against black curtained backdrop. T’was like oratory in a theater. No notes. Brilliance extempore.

****

The entire exchange is worth spending time listening to again in its entirety just for the sheer thrill of watching President Obama glow in the den of the opposition.

****

However, there is a segment key to the subject of this essay; that President Obama foresaw exactly the predicament that Republicans would be in now, incapable of saying “Yes” to anything he proposes, offers or agrees with them on, that they become convulsed contortionists.

***

Rep Marsha Blackburn (R-TN) had asked Pres Obama why he won’t take GOP (harebrained) plans on healthcare reform. He patiently tried to explain to her that Democrats HAD included many Republican ideas into the healthcare bills if they were objectively shown to be workable. But the critical point he made was that their reflexive rejection of anything he’s proposed including personal demonization of him, was going to hurt them in the long run.

***

****

So, 45 months ago President Obama predicted exactly to a T the current GOP Convulsions. We’ve seen this phenomenon play out over and over, but none of those prior occasions have been as dire as the shutdown we’re in the midst of and the looming economic catastrophe should we enter default.

****

Speaker Boehner, there is a way to retreat from that feeble ledge. President Obama WILL help you if you let him.

****

25
Jul
11

“stop obama”

Steve Benen: What a terrific quote from House Speaker John Boehner:

“Boehner – now liberated from the need to be sit politely across from Obama in the Cabinet Room – is framing the debt battle in the starkest anti-Obama terms to rally his troops. “Here’s the challenge,” he told his rank-and-file on a Sunday afternoon conference call, “To stop [Obama], we need a vehicle that can pass in both houses.”

I’ve read it a few times, and I can’t stop marveling at it.

As the House Speaker sees it, the principal goal here isn’t just to prevent a crisis of his caucus’ own making; it’s also to “stop” the president. Stop the president from doing what? It’s not entirely clear, but it probably has something to do with claiming any kind of political victory……

More here

24
Jul
11

‘where things stand’

Steve Benen: …. as Sunday winds down, there’s no end in sight to the Republican-generated crisis ….Senate Majority Leader Harry Reid is stepping up, preparing his own creative plan:

Mr. Reid … was trying Sunday to cobble together a plan to raise the government’s debt limit by $2.4 trillion through the 2012 election, with spending cuts of about $2.5 trillion. He would seek to avoid cuts to entitlement programs, but it was unclear how those savings would be achieved … Notably, the plan does not currently contain any new or increased taxes, an approach that many in his caucus would probably balk at.

At first blush, it may sound crazy that Reid would present a “compromise” with $2.5 trillion in cuts with no additional revenue – in effect, a plan that could have been crafted by Republicans weeks ago – but in Reid’s defense, it’s worth emphasizing that the Majority Leader probably counts half of those savings (at least) from ending the wars in Iraq and Afghanistan.

In general, Republicans don’t consider cuts to be cuts unless working people are suffering in some direct way, so his approach isn’t likely to go over well, but if GOP officials want a $2.5 trillion plan with no revenues, Reid is prepared to give them one. Add it to the list of possible ways out.

….. in the meantime, Wall Street is gearing up for a very busy morning:

U.S. stock futures fell, indicating the Standard & Poor’s 500 Index will slump after rallying within 1.4 percent of a three-year high, as President Barack Obama and Congress failed to reach an agreement on raising the federal debt limit, intensifying concern of a default…..

I’d note for context that the Dow Jones Industrial Average and the S&P 500 both closed at roughly at three-year highs on Friday. Republicans will likely wipe out those gains very quickly.

Full post here

02
Jun
11

inconvenient truths

Crooks and Liars: …. House Republicans swaggered into the White House Wednesday for the latest negotiation to end their economic hostage taking. One, Rep. Jeff Landry of Louisiana, refused to attend and be “lectured to by a president whose failed policies have put our children and grandchildren in a huge burden of debt.”

Sadly for Rep. Landry, the nation’s mounting debt is largely attributable to wars, a recession and tax policies President Obama inherited from his predecessor. Worse still, the Ryan 2012 budget proposal backed by almost every Republican in both houses of Congress would not only drain another $4 trillion in tax revenue from the Treasury, but fail all of the spending and balanced budget targets they themselves propose. Nevertheless, Republicans who voted seven times to double the debt ceiling under George W. Bush would risk the national economic suicide they admit would come to pass if their demands are not met.

Here, then, are 10 Inconvenient Truths About the Debt Ceiling:

1. Republican Leaders Agree U.S. Default Would Be a “Financial Disaster”
2. Ronald Reagan Tripled the National Debt
3. George W. Bush Doubled the National Debt
4. Republicans Voted Seven Times to Raise Debt Ceiling for President Bush
5. Federal Taxes Are Now at a 60 Year Low
6. Bush Tax Cuts Didn’t Pay for Themselves or Spur “Job Creators”
7. Ryan Budget Delivers Another Tax Cut Windfall for Wealthy
8. Ryan Budget Will Require Raising Debt Ceiling – Repeatedly
9. Tax Cuts Drive the Next Decade of Debt
10. $3 Trillion Tab for Unfunded Wars Remains Unpaid

More here

****




@POTUS

@BarackObama

@WhiteHouse

@FLOTUS

@MichelleObama

@PeteSouza

Enter your email address to receive notifications of new posts by email.

@TheObamaDiary

@NerdyWonka

RSS Obama White House.gov

  • An error has occurred; the feed is probably down. Try again later.

RSS WH Tumblr

  • An error has occurred; the feed is probably down. Try again later.

RSS Steve Benen

  • 'We simply cannot afford to leave people behind,' says House member
  • Joe: When you follow Trump, he'll take you into the sewer and keep you there (as long as it suits him)
  • Aly Raisman discusses difficulty of 'healing in her private moments' while trauma is so public
  • 'There is no executive privilege for sedition': Joe's message to Trump on Jan. 6 subpoenas
  • Psaki: GOP could raise debt limit tomorrow. Instead, they ‘play games with our economy.’

Categories

Archives

Blog Stats

  • 43,104,595 hits
September 2021
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930