Obama Seeking Emergency Camp David Meeting, Boehner Just Says No

Zero Hedge ^ | 7/14/11 | Tyler Durden

[Nachum]

In the most dramatic example of someone give the teleprompter the finger on the debt target (f/k/a debt ceiling, in the pre Federal Reserve days), after earlier it was announced that Obama, so willing to continue the charade, was pushing for a Camp David meeting where the debt ceiling issue would be resolved, bunch-of-fat-old-men-locked-up-in-a-room-nobody-leaving-until-solution-is-reached style, Reuters reports that Boehner has politely refused this latest farcical denouement, and told the White House "that he sees no need to move the negotiations on debt and deficits to Camp David." In other news, it is now 7 days and counting until July 22.

From Reuters:

House of Representatives Speaker John Boehner, the top U.S. Republican, has told the White House that he sees no need to move the negotiations on debt and deficits to Camp David.

"The speaker has told the White House he sees no need to go to Camp David this weekend," Boehner spokesman Brendan Buck said on Thursday.

The White House had been weighing the idea of Camp David talks but no decision had been made and White House aides said there were "currently no plans for that."

[socialism_stinX]

Well there's more than enough tax revenue from income taxes and social security taxes to pay for social security benefits, interest on federal debt, and the vital national security activities at the Pentagon, FBI, and in the intelligence community. So there's no reason we should ever have to default on interest payments on US Treasury debt. If we don't raise the debt ceiling, much of the rest of the federal government would have to shut down because we wouldn't have enough revenue to pay for all the massive bureaucracies and the other entitlement programs such as medicare and medicaid.

So actual default on Treasury bonds is out of the question. Talk of debt defaults is just a scare tactic used by liberals and RINOs to try to coerce the House Republicans into voting for tax increases (at the worst possible time for our economy). The financial markets are concerned about the short-term economic impact of a partial federal government shutdown. That's the issue for the markets, not actual defaults on debt, but the markets also want to see major cutbacks in spending out beyond 2012 and a big reduction in future deficits.

[Evil Slayer]

17 DAYS AND COUNTING. LET IT DEFAULT.

[jacknhoo]

Everyone’s retirement is at stake, because America is being irresponsible...like a crackhead with a credit card. We've hit the bottom. There is NO MORE MONEY TO TAKE. If you're worried about your retirement accounts...then the best thing for it is for America to start showing they are responsible, not irresponsible.

Get off the crack! Cut up the card!

[hal ogen]

It is about time someone took Nancy Reagan’s advice: “Just say no”.

[ohioWfan]

Troll??

[JosephMama]

I am 100% behind massive cuts and am strongly opposed to raising taxes on our productive members of society.

However, a journey of 1000 miles starts with the first step.

In this case we must provide assurances to the capital markets that the US treasury notes are safe and secure.

Our economy is more important than making Barry look bad.

[JosephMama]

Nope lurker for years. Just concerned about the state of my country. Trust me the 0 aint no friend of mine.

[Southack]

Now we'll get the same 6 FR trolls claiming that Boehner somehow “caved” again.

Idiots reign.

[Southack]

Ef the “Markets.” Seriously. They are being propped up with borrowed government/taxpayer money via giant Wal Street mega-banks on the Fed’s take.

It’s unsustainable. The crash will be cathartic, not apocolyptic.

[Southack]

Ef the Markets. They should need, and they should receive, no government support.

[HereInTheHeartland]

“Idiots reign. “

Free web forums allow people to spout anything; and in general just to bitch and moan without thinking!!!

[ROCKLOBSTER]

I love the smell of burning “Hope & Change” in the morning.

This post IS an excellent tagline.

[jacknhoo]

Obama has made himself look bad. And this is not about making him look bad, this is about putting the brakes on a runaway train.

[4yearlurker]

It's all yours me friend!

[ROCKLOBSTER]

Thanks, think I’ll borrow it for a while.

[Indy Pendance]

At least he’s not crying. Thank God for that.

[Indy Pendance]

That’s good!

[4Liberty]

[TribalPrincess2U]

Speaker John Boehner, the top U.S. Republican, has told the White House that he sees no need to move the negotiations on debt and deficits to Camp David.

I’ll sleep a little better tonight. Hang in the John. You can be replaced.

[hinckley buzzard]

Don't worry--it's not. Boehner will find a way to disappoint.