Skip to comments.Debt Talks in Disarray as House Balks
Posted on 10/16/2013 12:52:18 AM PDT by Cincinatus' Wife
".......A day that was supposed to bring Washington to the edge of resolving the fiscal showdown instead seemed to bring chaos and retrenching. And a bitter fight that had begun over stripping money from the presidents signature health care law had essentially descended in the House into one over whether lawmakers and their staff members would pay the full cost of their health insurance premiums, unlike most workers at American companies, and how to restrict the administration from using flexibility to extend the debt limit beyond a fixed deadline.............."
(Excerpt) Read more at nytimes.com ...
Small Mom and Pop businesses, who employ a majority of American workers (at least they used to until Obamacare came on the scene - so those numbers may have slipped) are being strangled by this latest Big government dictate.
So the final insult (well I'm sure there will be many more insults from this administration) is that the country class has to subsidize healthcare costs for the political class, the ones who locked the Obamacare yoke on necks (and our children's and grandchildren's).
Obamacare is killing the U.S. economy.
While baseball is in commercials, I switch around a bit, and invariably take note of all these talking heads who are “just baffled” about the budget “impasse.”
It never seems to occur to any of them that maybe if Obama didn’t flush money down the crapper with a steam shovel none of this would be happening.
And about the 2nd argument mentioned in the excerpt above from the NYT: "and how to restrict the administration from using flexibility to extend the debt limit beyond a fixed deadline.............."
Banning 'extraordinary measures' could reduce default risk "Republicans are trying to restrict the Treasury's ability to maneuver under the debt ceiling with a provision that could, counterintuitively, have the effect of reducing the possibility of a default in the future.
House Republicans are considering legislation to raise the debt ceiling and fund the government that includes language banning the Treasury from using "extraordinary measures" to create headroom under the debt ceiling in the future.
Treasury Secretary Jack Lew has been using such measures, which include issuing IOUs to government employee retirement funds and shifting around government accounts, since the debt reached the statutory limit of $16.7 trillion in May. Lew has said that he will run out of the measures on Thursday, at which point he will be left with only cash and incoming revenues with which to pay the country's bills.
His projection has been wrongly interpreted by many in the government and media as a hard deadline for avoiding a default on Treasury obligations. The Treasury likely has enough funds on hand to meet all its bills through Oct. 22 at the earliest or Nov. 1 at the latest, according to Bipartisan Policy Center's projections.
Confusion over when exactly the government faces default is hurting the Obama administration's credibility, former Obama economic adviser Austan Goolsbee said last week. Goolsbee called it a "fuzziness problem": The public doesn't understand the timing of the default threat, even if they believe it's a real threat.
Removing the use of extraordinary measures might clear up that fuzziness....................."
Your money is being constructively used to buy the votes of the parasite layabouts.
Sleeve tats are not cheap.
The Tea Party complainers are GREEDY! /s
The RINO asshats that fell out of line are responsible for this narrative. # them! Start organizing to run the bastards out of town now!
these dummies dont realize that OBAMAS cia/NSA/etc can provide him with summaries of the repubicans communications...its why BRAZIL wrent nuts how do they negotiate with OBAMA when he has every word they say among themselves....the republicans are so dumb, cry baby barbag boehner is acting like he has something to hide that they know about
OBAMA doesnt have to negotiate when he knows what their plan is ,follow the NSA
Obamacare is doing just as planned, strangling the economy. The house is doing as the Constitution empowers them to defund obamacare. If they give up this power to defund we are done. .
I believe Reid and the Democrats REALLY, REALLY want to roll back the Sequester.
Will the GOP hold the line there?
Certainly, don’t let the NYTimes set the narrative. Ignore the left wing scum media and wait for the outcome. The times paints this as a trivial issue of bickering by representatives and their personal concerns. Another misleading nytimes trash tabloid. The old media is our enemy, never forget that.
If it’s good enough for us, it’s good enough for them.
Who knows more about who?
Does Zero know more about the NSA?
Or does the NSA know more about Obama?
The answer is obvious, so we know in part who Zero answers to.
Ask yourself this:
When National Forest Service or National Park Police get their checks, WHAT BANK IS IT WRITTEN ON?
What is the bank code and account number? Is it the United States Treasury? I kinda doubt it.
Find out who is writing the checks and you go a long way towards finding out who is really in charge.
“Senate staffers were notified by the Disbursing Office on Tuesday that they will need to enter the D.C. health care exchange, regardless of their state of residency, and will lose their employer contribution if they do not enter the D.C. exchange, according to a memo obtained by CQ Roll Call.
Some Washington, D.C.-based congressional staff retain their in-state residency (oftentimes to pay the lower tax rate in their home state) and all members have district staff outside Washington. The open enrollment in the D.C. exchange for most staffers who are losing their Federal Employee Health Benefits plans will be Nov. 11 to Dec. 9. There previously had been some confusion over which state exchanges staffers would enter and frustration that the smaller-than-most-states D.C. would have an exchange with fewer coverage options, even as it offers national plans.
If you are currently enrolled in traditional FEHB and it is determined you are now eligible for DC Health Link, your traditional FEHB coverage will be terminated on December 31, 2013. The coverage you elect via DC Health Link, during the Federal Benefits Open Enrollment period, will begin on January 1, 2014. Once again, if you do not elect via DC health link, you will not have Senate employer-sponsored coverage in 2014, the memo read.
The memo also states that staffers share of health care premiums would be withheld from their pay on a pretax basis and that qualifying staffers will have the ability to continue FEHB coverage into federal retirement (which also had been a concern for longtime Hill staffers).
Leadership staffs and committee staffs are still exempt from the exchanges, as was written into the law (by leadership and committee staffs). It is up to each office, per the Office of Personnel and Management rule stated in the memo, to determine who is qualified for this exemption.
Of course, the memo also warns its recipients that they should remain attentive to further communications about the implementation of this ACA provision and not rely on this notice alone, as there currently is a push in Congress, led by Sen. David Vitter, R-La., and again embraced Tuesday by House Republicans, to eliminate the employer contribution for Hill staff.
Read the full memo here.”
Obama is killing the U.S. economy and with the help of the LSM He is able to blame it on the Republicans. Of course the RINOS are helping.
It is sickening to watch.
Washington Times Editorial:
“..............The Senates initial plan was to play the usual Washington game of bait and switch, funding the government and allowing unlimited borrowing in return for a promise of a committee meeting to talk about entitlement and spending reform, with coffee and tea and maybe the Democrats will bring Danish. Its politics designed to appeal to those who cant remember 2011, when we went through the same charade. President Obama won a $400 billion increase in the credit limit in return for the creation of a supercommittee to come up with $1.5 billion in spending reductions over 10 years. The supercommittee failed, as President Obama knew it would, and sequestration was the consolation prize.
The House Republicans wanted to beat the Senate to the punch with their own proposal to fund the government until Dec. 15 and raise the debt limit through Feb. 5 in return for a single concession. Congress and the White House staff would put aside their sweetheart insurance deal and sign up for the Obamacare they prescribed for everyone else. Chief Justice John Roberts, whose vote saved Obamacare in the Supreme Court, would have kept his sweetheart insurance. This would grieve the chief justice because he would feel cheated that he couldnt share the misery. This was weak stuff indeed, considering the Republican starting position was defunding Obamacare entirely. The Tea Party balked.
Some pollsters portray Republicans as the losers, but maybe not. The midterm elections are a year away, and voters have shown theyre angry with politicians of every stripe. Circumstances constantly change. A new Rasmussen poll finds that 46 percent of those surveyed would give Democrats full control of Congress and 45 percent would give it to Republicans. This is the same even split weve seen in the past several elections.
Mr. Obama says hell veto any legislation that doesnt give him everything he wants and nothing he doesnt. He understands the value of a clear position. Though Americans are angry that Mr. Obama dispatched National Park Service rangers to prevent tourists and veterans from strolling through outdoor monument grounds, he knows the dent in his approval rating, currently hovering at 40 percent or less, can change, too. Hes standing his ground because he understands how the brinksmanship game is played..........”
Washington Times: “....................Fitch Ratings put U.S. Treasury bonds on a negative ratings watch Tuesday, saying that even if the federal government continued to make debt payments, cuts to other spending would damage the perception of U.S. sovereign creditworthiness.
The other two ratings agencies, Moodys Investors Service and Standard & Poors, have not signaled similar warnings yet.
House Republicans were left reeling by the conservative revolt within their ranks.
In characterizing the situation, one Republican, Rep. Devin Nunes, posted a Twitter message Tuesday night that linked to a video of the climactic scene in Star Wars when the Death Star explodes.
Emerging from an evening closed-door meeting with Mr. Boehner, Rep. Pete Sessions told reporters they were no longer going to put the House bill on the floor Tuesday.
We are going to be prepared tomorrow to make some decisions, Mr. Sessions said.
Earlier Tuesday, the GOP thought it had a solution. In a meeting of the entire House GOP conference, Mr. Boehner presented a plan to reopen the government through Dec. 15, to raise the debt ceiling through early February, to repeal the medical device tax in Obamacare, to require Mr. Obama and his top aides to take part in the health exchanges, and to stiffen income verification for those getting government subsidies under the Affordable Care Act.
But by the end of the two-hour meeting it was clear there was dissent, and Mr. Boehner told reporters they were still working on the plan.
By Tuesday afternoon, they had narrowed the bill down to just the requirement that Mr. Obama and top political appointees take part in the health exchanges, without the benefit of government subsidies to pay their premiums.
If Obamacare is good for members of Congress, then its good for the president, said Rep. Darrell E. Issa, California Republican.
A vocal group of conservatives rebelled again, though, forcing the GOP to scrap that new bill.............................”
to kill the economy obama has to first kill the Congress
That is what this is about
a potus power grab of powers reserved to the Congress
he never did need no steekin’ Constitution
Just dingy Harry, a lap dog MEdia, a shady bunch running CIA/NSA/HHS and Justice Dept, and legion of ideological bureaucrat minions
Ben Bernanke has been able to pull 85 billion dollars a month from the black hole to buy US mortgages.
obama declared this morning that he will move on AMNESTY the second the republicans cave. Let the entire system crash. I’d rather live without a government and free than to have to live in Meximolia.
Further down in Stein's piece in the section "Sunday":
"ANOTHER GLORIOUS DAY here in Sandpoint. By the way, I hope people have realized who got us all screwed up over Syria. It was our next president, Hillary Rodham Clinton. She was secretary of state when the Syrian rebellion started. She was the one who told Obama to butt out when U.S. intervention in even a small way would have meant victory by moderate rebels. She made sure the struggle got so intense that at the end it was only the two last rats standingAssad and al Qaedaso that no choice was a good choice for the U.S. Hillary Clinton, architect of Benghazi, major liar before Congress, always looks a bit under the weather. The thought of her as president is terrifying. Obama is like Marcus Aurelius compared to Hillary....."
we better start understanding who our so called "friends" are, and he is not one....any word he utters is suspect....
Read it and then come back and make a comment.
It’s greedy to want your own money like it is “paying your bills” to run up the debt
However, if we yield to the rats, there will be an instant Constitution Crisis. Of course the Constitution means nothing to Herr Obozo and his facist cabinet and insiders:
Congressman: Constitutional Crisis if GOP Caves on Debt Ceiling
http://www.breitbart.com/Big-Go ^ | 15 October 2013 | Matthew Boyle
Posted on Tuesday, October 15, 2013 10:34:02 AM by 11th_VA
On the House floor on Monday, Rep. Tom McClintock (R-CA) argued that President Barack Obamas activities during the government shutdown over Obamacare are a sign to him that Obama would act nefariously to attack the full faith and credit of the United States of America by taking the country into a default in a debt ceiling crisis if the president does not get everything he wants in negotiations.
Given the ruthless and vindictive way the shutdown has been handled, I now believe that this president would willfully act to destroy the full faith and credit of the United States unless the Congress acquiesces to all of his demands, at least as long as he sees political advantage in doing so, McClintock said in a speech on the floor of the House of Representatives. If the Republicans acquiesce, immediate crisis will quickly vanish, credit markets will calm and public life will return to other matters. But a fundamental element of our Constitution will have been destroyed. The power of the purse will have shifted from the representatives of the people to the executive. The executive bureaucracies will be freed to churn out ever more outlandish regulations with no effective congressional review or check through the purse. A perilous era will have begun in which the president sets spending levels and vetoes any bill falling short of his demands. Whenever a deadline approaches, one house can simply refuse to negotiate with the other until Congress is faced with the Hobsons choice of a shutdown or a default. The nations spending will again dangerously accelerate. The deficit
The reality of a real debt limit:
The Debt Ceiling is the Law of the Land
redstate.com ^ | 10/6/13 | Daniel Horowitz
Posted on Monday, October 07, 2013 6:07:28 PM by cotton1706
Over the past few weeks, Democrats have indicated that they have no intention of negotiating over Obamacare, opting instead to shut down the government. They are justifying their obstinacy by asserting that Obamacare is the law of the land. Well, if that is the game they want to play, we should return the favor with the debt ceiling. The debt ceiling, pursuant to the Second Liberty Bond Act of 1917, is the law of the land. And it has been so for far longer than Obamacare.
Throughout this debate over funding Obamacare in the budget bill, House GOP leaders have stressed how the debt ceiling was the more appropriate means of fighting Obamacare. After all, it was the next fight. But as if on cue, some Republicans are already using the same Democrat talking points about the risk of default.
We are going to hear this erroneous talking point propagated by both parties over the next few weeks, so lets put the myth to rest. The only way we default on the debt is if we fail to pay the interest on the public debt. According to the updated budget projection from the CBO, interest on the debt will be roughly $237 billion for 2014. Thanks to the short-term revenue benefits of the fiscal cliff and Obamacare tax hikes, the federal government is expected to rake in a record $3.042 trillion from the private economy this year.
Lets engage in a simple math exercise. $3.042 trillion $237 billion = $2.805 trillion. As long as the Treasury pays the first $237 billion in revenue to the shareholders of our debt, there will be no default, and we will have $2.805 trillion left to spend. Again, default is taken off the table. Discussion over.
What do you do with the remaining funds? You start funding core functions of government and those programs that people are already dependent on.
Social Security (retirement and disability) $848 billion
Medicare $505 billion
Medicaid $298 billion
Defense $582 billion
Veterans $83 billion
Those expenditures account for roughly $2.3 trillion. The remaining half trillion can be prioritized as needed for other functions related to homeland security, national parks, or any other limited function.
Hence, the debt ceiling is a built-in balanced budget mechanism. If Democrats want to fund other functions of government, they need to commit to a balanced budget. If they want to fund the HHS and the IRS, they need to get rid of Obamacare. If they want to fund the EPA, they need to get rid of the war on coal.
The power of the purse manifest in the House of Representatives, in conjunction with the debt ceiling law, reflects democracy at work, especially with divided government. Its time we stop peddling the myth of default, and start using our leverage to restore constitutional government and bring relief to those who are losing jobs and suffering from the high cost of living engendered by the harmful activities of the unconstitutional aspects of government.