Gabriel Malor - the sky is falling, run for your life!
Posted on 10/14/2013 1:38:32 PM PDT by JerseyanExile
Alternate Headline: "Your Move, Mr. Cruz."
There is talk of a deal being worked out this afternoon, but I thought I might mention that even if a deal is worked out today or tomorrow, we are almost certainly going to find out what happens when the debt ceiling isn't raised by Thursday.
Quite simply, there isn't enough time for the Senate to consider a bill before the Thursday deadline . . . unless there's unanimous consent to waive the Senate rules. Here's what has to happen before the Senate can pass a bill raising the debt ceiling.
(1) The bill has to be drafted. Figure this takes a day.
(2) The bill has to be moved to the floor. This takes 3 days if it's a new bill that has to be calendared. It's faster if Sen. Reid amends a bill that's already on the calendar. It's also faster if the Senate takes up a bill from the House.
(3) Without unanimous consent, they'd need to file for cloture on the motion to proceed. Add a day, since a cloture vote has to be filed a day in advance of the vote.
(4) Without unanimous consent, they'd then have 30 hours of post-cloture debate.
(5) Without unanimous consent, they'd need to file cloture on the bill itself.
(6) Without unanimous consent, they'd then have 30 more hours of post-cloture debate.
(7) And then the Senate would get to vote on final passage of the bill.
There just isn't that much time between now and the deadline. This means that if any Senators object to waiving the rules, we're going to run headfirst into the debt ceiling even if Sens. Reid and McConnell came out with a deal this very second.
I checked with a pal who works on the Senate side. Though he cautions that there are a lot of ifs involved, he confirmed my understanding of the rules. He suggested that if there's unanimous consent, the Senate could pass something in a couple days. Without unanimous consent, the Senate's not going to be passing a bill until next week.
Does anyone here believe that a deal struck between Reid and McConnell is going to get unanimous consent from Senate Republicans? I sure don't. And don't forget, even if a deal makes it through the Senate, it then has to make it through the House.
The bottom line: we're about to find out what actually happens when the United States government runs up against the debt ceiling.
They are kicking the can down the road—the CR until January and the debt ceiling until February.
I can tell you what happens when we hit the legal Debt Limit! It is called INSTANT BALANCED BUDGET. No default, just an instant, relatively painless, balanced budget! It will be a BLESSING.
Default is only a possibility of obama willfully decides to allow it to happen.
Gabriel Malor - the sky is falling, run for your life!
The left is always modifying the Constitution without using the amendment process, and its un-Constitutional.
Well, here we have a case of the Right effectively getting the Balanced Budget Amendment, without using the amendment process. And, in this case, it IS Constitutional. Completely!
" AUNTIE EM! TOTO! IT'S A TWISTER! IT'S A TWISTER!"
Lol.
The problem is that it’s the executive branch that can set prioritizations on outlays in a case like this. Do you really think that the president will handle this with good grace, and seek to minimize any pain the public may feel?
The whole debt limit theater has nothing to do with our credit rating. We have sufficient revenue to cover the $18 billion per month that is due for sovereign debt service. What we lack is enough money to keep paying to parties using EBT, unemployment, SSDI, social security, medicare, medicaid and endless other social programs. That set of disbursement is going to have to be managed. There is $51 billion in monthly spending beyond revenues that has to be cut. Expect lots of unhappy recipients of government largess. The unemployment, fraudulent SSDI and other fraud would be a find place to start.
This was the plan all along-run out the clock and let the Republicans fanatically vote for the Democrats measure. I hope the Republicans aren’t foolish enough to fall for this. The sun will still rise if we go past the deadline.
Nothing --
Does anyone here believe that a deal struck between Reid and McConnell is going to get unanimous consent from Senate Republicans?”
It had better not get unanimous consent.
Isn’t it an impeachable offense if the POTUS lets the debt default?
I am just worried about what will happen to disabled veterans. I have friends who are seriously physically disabled from Afghanistan and their only source of income is VA benefits.
Unlike freebies, I do believe we owe these people every cent of that money.
It seems like there is enough in the revenue stream monthly to at least pay disabled veterans who are 100% disabled, but would these be at the discretion of Barry and Friends?
I will be seriously pissed if my buddies who gave a HELL OF A LOT for this country are left hanging in the breeze while we fund no_limit_ebt sprees at Walmart.
Isn’t it also an impeachable offense to by pass Congress?
What is the purpose of a debt limit if you just raise it every time you pass it?
What does it mean to have a “debt limit” if you’re just printing money anyway?
So, exactly how much each month will have to be cut?
I don’t understand what all the screaming is about. We’ll owe the same amount and bring in the same amount on the 16th as we will on the 17th and on the 18th.
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