Skip to comments.GOP aides: Boehner tells colleagues he will avoid a default on federal debt
Posted on 10/04/2013 4:50:08 AM PDT by Oldeconomybuyer
With the government shuttered and a deadline for raising the debt limit just two weeks off, anxious Republicans began steering the party away from a dead-end debate about the health-care law and toward discussion of a broader deal to reduce the nations debt.
Given that a bloc of hard-line conservatives is unlikely to vote to increase the limit under any circumstances, Boehner has told fellow Republicans that they must craft an agreement that can attract significant Democratic support.
(Excerpt) Read more at washingtonpost.com ...
So what is the point of this shutdown if they surrender in the end?
Why not just have a one party system at this point?
Put the printing Presses on Extra Fast and just let them print money ad infinitum.
Obama and Oboehner.
Keeping the engine going till the train runs over the cliff.
He is inept at dealing with a sadistic petulant president who is scaring the markets and the international community
Caving to ta temper tantrum is the last thing we want to do
I wonder if boehners kuds are spoiled
We really need strong family men up there because it is OUR kids who have to pay obama’s toy store bill
there are lots of ways to avoid a default with House-written legislation.
None of those ways will make Reid-bama happy LOL but they will all prioritize and limit how money is spent.
no surrendering - it’s post propaganda trying to weaken resolve of squishy Rs
The point is simple; gotta look like you’re doing something.
Who hasn’t the workplace saying, “Oh crap.....the boss is right over there. Look busy!”
In this case, the “boss” is the voter.
The work is in getting the debt down. It's 16 Trill....It was 8 Trill when Obama took office.
Let business thrive....the pipeline, fracking, lumbering, mining....
Make all Federal Parks and Roads....state parks and roads.
Get rid of Head start....the EPA....the Education Department...etc etc and stop with the phenominal pension and health care forever benefits for fed, state and local workers.
Oddly, I don’t think it is going to matter what Boehner crafts to avoid default. Why?
I don’t think 0bama, Reid, or Pelosi will commit to a deal of any kind. Based on the current visible moves they are making, they are going to default on the American public.
Note that they originally said the debt limit was the best target to use rather than the CR, now it looks like thats over,
Dont be surprised if he rolls the CR into that.
JUST DO IT
If Boehner avoids default by having the House pass a debt bill for no other purpose but to pay the interest on the debt, then he hasn’t caved or surrendered.
It’s still awful to contemplate that the USA has to go deeper into debt to pay to service its existing debt, but for now if it stops Obamacare, it’s worth it.
On the other hand, if Boehner avoids default by giving Obama what he wants, then yes, it’s surrender and it’s also the death of the republican party. The GOP will still be there for awhile but they will be a shell without substantial support. A new party will be born in my opinion if this surrender by the republican leadership occurs.
Continuing to borrow money is not an option.
He can write a bill reducing various budgets by the amount needed to fund the existing interest for a specified period.
No default, no ceiling increase.
The fedgov collects 2.7 Trillion dollars a year in taxes. Interest payments on the debt are about 0.4 Trillion dollars a year.
Yeah, I think default can be avoided with no debt ceiling increase.
What will have to be changed are the fedgov’s spending habits.
surrender cry baby ready to throw in the towel, can’t take the heat, won’t answer your phone calls. Nor will TN senator bob corker, hiding behind the gov’t shut down crapola.
Hold the increase to a minimum, do not include Obamacare, and get on with the business of Government.
Keep the EPA closed until hell freezes over.
not just the markets, he’s going after granny and gramps now.
Keeping the engine going till the train runs over the cliff.
Hey bone-head and odumber - two simple thoughts. One, no obamacare. Not now, not ever. Two, no more debt. Live within your means, the rest of us have to. Any violation of these two and you’re out on your backsides. We did it in CO, we can do it at the National level too. Now get serious and get to work.
This is BS. Treasury pays interest to the debt with daily tax receipts. It’s the first priority of payments. No action is required by politicians to prevent default.
Yeah, this president has spent $15 trillion dollars and the Republicans just keep giving him the checkbook to write more. The Republicans claim they don’t want to “default” on the federal debt. A rising debt is not the same as defaulting on the current debt.
The train needs to stop and go in reverse but the leadership of the two big parties don’t want that to happen.
The business and political leaders are conspiring to blow up a false “economic recovery” that is leading to disaster.
The debt issue alone cries out for a new political force committed to fiscal responsibility.
People seem to forget that every agency spends to the last dime what it got last year even on stupid things they with destroy with the next years money. That was raised because ‘we used up what you gave us, now we need more!
Having been on enough Navy bases I see all the useless things that go up at the end of the fiscal year, and get torn down after the new money is voted in. $7K speed bumps in 5 mph parking lots was last year’s spending along with some unneeded statues that only God knows how much they cost. And those speed bumps were not tiny. My Corolla’s wheels front wheels just get over hafl a turn then the back wheels are hitting the speed bumps again. My bad back really loves all 50 of them in one parking lot.
Which has very little handicap parking, but a lot of parking for the Brass, up front., that just sits empty.
Plus some useless buildings went up.
The only way to win in DC Politics is to STAY ON OFFENSE !
Let’s not forget that there is money flowing in to the FedGov coffers every single day. Millions and millions weekly. “Boatloads” as noted by in-justice Sotomayor.
The obligations of the government are to be first paid, and Zero knows that.
At this point, current inflows may or may not cover that debt service. However, if it does, and leaves excess, then that excess can be applied to current operations, etc.
Is it a bad situation? Yep. Is it likely to get ANY better with ANY of the plans currently under consideration? Nope.
The piper wants to be paid. And, still the pukes in DC fiddle.
Funny...”Boehner” doesn’t sound like a French name.
If he caves this time, he should be removed as Speaker. Period.
> “no surrendering - its post propaganda trying to weaken resolve of squishy Rs”
I believe you’re right.
But it’s also working on Freepers, and conservatives and republicans in general. Because we know Boehner is weak, they play on his reputation as a weakling to make us think of the futility of this conflict.
“Okay guys, right near the end of this game of chicken, I’m gonna swerve hard left. Lets play the game anyway to see who wins but that’s what I’m gonna do”
Wait, as long as the govt stays partially shutdown, at this point, do they still need to borrow anything? (Assuming no “war” starts or financial “crisis” erupts.)
The federal government has been running a 2 trillion dollar annual deficit. In order to meet other obligations such as Social Security and military spending after October 17, they must either raise the debt ceiling or default on interest payments to the existing debt.
So it’s not BS.
Let’s keep in mind that Boehner has only one vote. Buried in the story is the influence of Tom Cole. Cole is the François Leclerc du Tremblay for the establishment in the House. His puppy James Lankford (like Graham is to McCain), and my Representative, follows Cole everywhere.
Cole, in September, at town hall meetings, did not want to push the CR strategy. Lankford was in lock step with him despite my direct questions asking for his position, and the rationale why.
We must continually urge our “safe” representatives to do the right thing and hold firm.
Cruz will signal us if he sees a problem. And we’ll start another tsunami of emails, faxes, calls, and visits.
They are merely posturing so that people won’t know them for the pu$$ies they are.
They had no intention of standing firm. Ever. They just didn’t want to be confronted by their constituents over this because they are yellow-bellied cowards who shake and shiver when the dems pull this crap again and again.
So, in the end, the Republican party- ALL OF US- will be held accountable for this bullsh!t. We will be blamed for the shutdown and you a-holes will capitulate to the bullies. Again.
Thanks for destroying our country. The dems aren’t doing it alone. The Republican party is blatantly aiding and abetting.
You didn’t get it. After Oct. 17 THE FIRST RECIPIENTS OF THE TREASURY’s TAX RECEIPTS ARE THE FED BANKS TO PAY INTEREST ON THE DEBT. Ergo, there is no risk of default, just a risk of more fed programs not being funded since what’s left after the interest payments cannot be increased by issuing more debt. In which case Reid and O better get off their butts and start approving House spending bills as many more agencies will be affected after Oct. 17. Why are they being so intransigent?
Got it now?
THE FIRST RECIPIENTS OF THE TREASURYs TAX RECEIPTS ARE THE FED BANKS TO PAY INTEREST ON THE DEBT
This is false. It is completely up to the treasury secretary what get’s paid and in what order. Starting in 2011 and several times since then the House passed a bill that would force treasury to pay interest first. Reid and Nobama both said they would never sign it.
I’m in favor of holding the line on the debt ceiling just pointing out the facts.
No you didn’t get it.
Of course the first payments are to the Federal Reserve which was the whole purpose of the 1913 Income Tax and the 1913 Federal Reserve Act. It has never changed from that time.
But the tax receipts are not enough to meet general obligations including Military and Social Security spending.
Social Security receipts are added to the general fund which is used to pay interest on existing debt. Than more debt is taken on to service Social Security recipients; viscious cycle.
So there will be default because defaulting on Social Security is not an option. Defaulting on the military is also not an option.
The GOP is likely to lose anyway. The number of Americans “on the dole” - via welfare, benefits, government jobs or contracts - is FAR higher than it was in 1995. And those people want their gravy train to never end.
That’s the spin however debt payments are not dismissable whereas payments to government and citizens recipients are. If interest payments are missed what do you think that would do to the interest rates and funding of all future government spending programs -the primary recipients being Democrats? See, the interest WILL be paid otherwise the Dem party, platform, base and will end.
Defaulting on SS and Defense is not an option for whom? Is O-care really worth that? I say let’s find out.
There was never any doubt. We will have to wait until 2015 and a new Speaker to actually do anything beyond the budget right now.
No, we just know that a drunk that is being blackmailed is not going to be a Spartan Warrior.
You seem confused. It is not spin, it is the law, hence the House passing a bill to force interest payments to the front of the line.
Your theory about which party would pay the price may be correct but is irrelevant to your previous claim that the treasury MUST pay interest first.
K, I’ll see your “confusion” and raise you ignorance.
The 14th Amendment (in part) reads:
“Section 4. The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.”
IMO this means interest on the debt, SS, and defense must be paid first.
“It may be a moot question; Treasurys computer system may not be capable of selecting some bills to pay while ignoring others (although interest payments, which are handled by a separate computer system, may be an exception).”
This indicates interest payments are excepted from treasury payment deliberations. A priori.
So the interest must be paid and it is paid first. Got it? Anything else is on Obama and the Dems.
Is O-care really worth it?
See the article linked right above your post.
“Your opinion” isn’t law.
I agree it would be crazy for the dem treasury sec Lew to refuse to pay interest first but if you look at what was said the last time, they intended to do just that. Claiming in fact that they were not even allowed to prioritize.
As for ignorance you continue to show yours as you substitute your opinions for the facts. The House didn’t pass a bill forcing treasury to prioritize debt payments just for shits and giggles.
Geez did you even read the article you linked to?:
But when that X Date arrives, one fact is certain: the Treasury Department will not have enough cash to pay everyone who is supposed to be paid. As such, some people and organizations would risk not getting paid.
Some have suggested that Treasury prioritize certain payments over others. In other words, the government would pay some bills in full and on time, but not others. Presumably, interest would be paid on the nations outstanding debt first, but how would officials decide who gets paid and who does not? It may be a moot question; Treasurys computer system may not be capable of selecting some bills to pay while ignoring others (although interest payments, which are handled by a separate computer system, may be an exception).
how does the GOP exist in DC?
from what I have seen, all staffers are democrats or leftist rinos at best.
I think you answered your own question. (ie the GOP are mostly leftist and rinos).
There are some good Tea Party ones there, I don’t know how they survive.