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Cantor opposed to Cliff deal
http://stream.wsj.com/story/the-fiscal-cliff/SS-2-87944/ ^ | WSJ/Twitter

Posted on 01/01/2013 12:58:14 PM PST by fooman

Do we believe Cantor will shoot this down?

(Excerpt) Read more at stream.wsj.com ...


TOPICS: Business/Economy
KEYWORDS: cantor; ericcantor; sourcetitlenoturl
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To: fooman
Question I have been pondering is what if The Fed owns ALL the treasuries

The Fed repays to the Treasury whatever interest is earned on its bonds. So, borrowing -- from the government's point of view -- becomes free! It's every despot's dream.

Of course, the drop in the dollar's value as a result of all that money-printing is paid by us when we try to exchange those dollars for actual goods.

41 posted on 01/01/2013 1:56:34 PM PST by BfloGuy (Money, like chocolate on a hot oven, was melting in the pockets of the people..)
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To: Arm_Bears

Cantor will be against it before he is for it. You’re absolutely right; typical political posturing.


42 posted on 01/01/2013 1:56:39 PM PST by Starboard
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To: Sacajaweau
Obama has not won anything until we see how the House responds. They may cave as everyone here expects, or they may do something more creative. Who knows. We'll see.
43 posted on 01/01/2013 2:01:52 PM PST by hinckley buzzard
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To: BfloGuy

My question is a what point does world lose confidence in our treasuries.


44 posted on 01/01/2013 2:02:06 PM PST by fooman (Get real with Kim Jung Mentally Ill about proliferation)
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To: fooman

After years of multi-hundred-billion-dollar money-printing by the Fed with no negative consequences so far, many people have come to believe that this method of financing our debt can go on indefinitely.

But we know from history that that isn’t the case, and that severe problems will occur if Congress passes over-the-cliff deals like Obama’s.

There are organizations whose job it is to warn investors about governments that refuse to stop profligate spending — the bond-rating agencies like Standard & Poor’s, etc.

If Obama’s budget deal is approved, with its minimal spending cuts that would assure trillion-dollar budget deficits ad infinitum, the rating agencies would be as blameworthy as our Congress if they didn’t respond by sending out alarm bells to warn investors about our increasingly risky bonds.

But will the bond agencies do their job? Unless they lower U.S. bond ratings after Obama’s deal is approved, we will know that they will have abandoned their responsibilities.


45 posted on 01/01/2013 2:02:33 PM PST by Bluestocking
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To: fooman
YES HE CANTOR!
46 posted on 01/01/2013 2:08:19 PM PST by mikrofon (Works either way...)
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To: fooman

The establishment knows Boehner is done and, to avoid a real conservative from taking over as speaker, Cantor is being given the green light to oppose the bill in order to win conservative support. Cantor will be the next (establishment) speaker of thew house and conservatives will cheer thinking they are actually getting change.


47 posted on 01/01/2013 2:09:41 PM PST by icwhatudo (Low taxes and less spending in Sodom and Gomorrah is not my idea of a conservative victory)
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To: hinckley buzzard

Really....look at the Senate vote....hardly along party lines.


48 posted on 01/01/2013 2:12:17 PM PST by Sacajaweau
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To: Bluestocking

I guess the 64 Trillion dollar question is when does the music stop? Japan is at 190% of GDP because of a captive debt market (postal savings system). The government could require that we all put treasuries in our 401Ks for instance.


49 posted on 01/01/2013 2:14:26 PM PST by fooman (Get real with Kim Jung Mentally Ill about proliferation)
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To: icwhatudo

Cantor will be the next (establishment) speaker of thew house and conservatives will cheer thinking they are actually getting change.


Likely scenario. Note all the up and coming guys like Rubio and Ryan are hiding under their desks. Nobody has a stomach for this fight in the beltway GOP.


50 posted on 01/01/2013 2:16:47 PM PST by lodi90
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To: icwhatudo

I called Cantor’s office during the 0baminationCare debate. Eventually, I realized that the young person I was talking to was actually listening, so I laid out a trial sentence about the corruption in DC. The response I got back specifically said, in a very depressed tone, “Tell me about it.”

Those poor kids—interns learning about the level of effete, Byzantine corruption, up close and personal. I’d be angry, were I in their shoes.

So, Cantor? No. I vote West. Give me JUSTICE.


51 posted on 01/01/2013 2:19:27 PM PST by combat_boots (The Lion of Judah cometh. Hallelujah. Gloria Patri, Filio et Spiritui Sancto!)
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To: Sacajaweau

Really....look at the Senate vote....hardly along party lines.


The deal is agreed. All we are seeing is posturing. So you really can’t read anything into individual votes.


52 posted on 01/01/2013 2:20:18 PM PST by lodi90
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To: icwhatudo
My stalking horse theory has Cantor positioning himself as the anti-Boehner candidate for speaker in order to find out who's plotting a coup, out them and get them back on board the weepster’s train...or else.
53 posted on 01/01/2013 2:32:47 PM PST by Tex-Con-Man (<-------currently working through post-election anger issues.)
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To: hinckley buzzard

First thing they should do is take out the “expanded earned income tax credit, child tax credit and college tax credit — extended for five years”.

I didn’t know we had expanded earned income credits in 2009 — enough already.

Cut unemployment benefit extensions to 2 months. They can take it up again during the debt talks.


54 posted on 01/01/2013 2:39:10 PM PST by Girlene
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To: Wisconsinlady
If this is all they need to do, what don’t they just walk out? It is all they have left anymore. Just curious.

Most of them like the gravy train.
55 posted on 01/01/2013 2:39:37 PM PST by andyk (I have sworn...eternal hostility against every form of tyranny over the mind of man.)
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To: Sacajaweau

The House has to vote on it. They can pass a different bill and force further negotiations. In fact, they should.


56 posted on 01/01/2013 2:45:50 PM PST by ilgipper (Obama supporters are comprised of the uninformed & the ill-informed)
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To: Sacajaweau

The dims had nothing... we owned the House, Senate and White House... they attacked Bush over Iraq and both destroyed the man’s reputation and his presidency. They were relentless and united. They controlled the debate and shaped the arguments and we must learn to do the same.

LLS


57 posted on 01/01/2013 2:52:14 PM PST by LibLieSlayer (FROM MY COLD, DEAD HANDS!)
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To: fooman

My favorite part of ZH post: “Retiring Rep. Steve LaTourette of Ohio asked House Republicans why the House would “heed the votes of sleep deprived octogenarians,” according to a source in the meeting.”


58 posted on 01/01/2013 2:53:27 PM PST by Rusty0604
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To: Sacajaweau
Rep. Spencer Bachus (R-Ala.), chairman of the Financial Services Committee, emerged from the meeting saying he would "shocked" if House doesn't amend the bill this afternoon and send it back to Senate.

"We're building a consensus that we have to address spending," he said. "The president won his election; I also won my election.”

The GOP retained control of the House. It won. And if they are afraid to use that power and control, they deserve to be defeated in 2014.

59 posted on 01/01/2013 2:54:16 PM PST by kabar
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To: Artcore

Welcome... you took the correct colored pill.

LLS


60 posted on 01/01/2013 2:56:13 PM PST by LibLieSlayer (FROM MY COLD, DEAD HANDS!)
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