It Seems Obama Wants To Blink...

[Mycroft]

...but, will Reid let him?

President Barack Obama warned Tuesday of "economic chaos" if a political stalemate causes the U.S. to no longer be able to pay its bills, and said he would accept even a short-term increase in the borrowing limit to give lawmakers time to negotiate.

Mr. Obama's comments underscored rising concern at home and abroad, including in financial markets, that the U.S. could default on its financial obligations should the standoff continue through next week. The remarks were intended to pressure Republicans to pass bills to raise the debt ceiling and to fully reopen the federal government without GOP policy demands attached.

House Speaker John Boehner (R., Ohio) quickly shot down the idea of a short-term reprieve that excludes Republican priorities, saying any increase in the nation's statutory borrowing limit must be paired with deficit-reduction measures.

"What the president said today was, if there's unconditional surrender by Republicans, he'll sit down and talk to us," Mr. Boehner said after Mr. Obama held a news conference at the White House.

"We can't raise the debt ceiling without doing something about what's driving us to borrow more money and to live beyond our means," the speaker said.

The exchange left the stalemate no closer to resolution, with the parties dug in even on terms over which they would conduct negotiations

Tensions Ratchet Up in Debt Battle - WSJ.com

It seems to me I remember Obama saying something about him not getting into any negotiations with Boehner. But here he is, suggesting he'll talk. Will Reid be comfortable with that, I wonder? Reid has seemed to enjoy being in the driver's seat up till now and shows no sign of giving it up.

Senate Majority Leader Harry Reid (D-Nev.) is moving legislation to push the debt limit until Dec. 31, 2014, well beyond next year’s midterm election.

Senate aides estimate the bill would increase federal borrowing authority by about $1.1 trillion.

The administration estimates the nation will hit the upper bounds of its $16.7 trillion debt ceiling on Oct. 17, although in recent days experts have said that deadline may be flexible.

Reid wants $1T debt hike to end of 2014 (Video) - The Hill's On The Money

So what is going on here? Is this some kind of rope-a-dope tactic cooked up by Reid and Obama? Or are these two guys no longer on the same page?


I have a funny feeling that liberals across the country are not going to like what is happening here.

 

[iguanaman]

...but, will Reid let him?



It seems to me I remember Obama saying something about him not getting into any negotiations with Boehner. But here he is, suggesting he'll talk. Will Reid be comfortable with that, I wonder? Reid has seemed to enjoy being in the driver's seat up till now and shows no sign of giving it up.



So what is going on here? Is this some kind of rope-a-dope tactic cooked up by Reid and Obama? Or are these two guys no longer on the same page?


I have a funny feeling that liberals across the country are not going to like what is happening here.

I'll start worrying when the Govt. is open and the debt ceiling raised. There will be no talks until then.

 

[vvx]

So when we default, how does that work exactly? Does the government pay out some percentage to everyone it's legally obligated to, based on whatever cash it has on hand when the bills are due? Or is it in a first-in-first-out system? The oldest liabilities are paid first until cash is gone. When more comes in the next oldest paid?

 

[Linc]

Government shutdown 'ads' assail TEN Republicans in key swing districts.
We'll see who blinks first!

 

[joko104]

Reid is an ignorant and evil sick old man.

 

[Moot]

...but, will Reid let him?

It seems to me I remember Obama saying something about him not getting into any negotiations with Boehner. But here he is, suggesting he'll talk. Will Reid be comfortable with that, I wonder? Reid has seemed to enjoy being in the driver's seat up till now and shows no sign of giving it up.

So what is going on here? Is this some kind of rope-a-dope tactic cooked up by Reid and Obama? Or are these two guys no longer on the same page?

I have a funny feeling that liberals across the country are not going to like what is happening here.

Obama called Boehner.....



"President Obama called House Speaker John Boehner on Tuesday, again telling the Ohio Republican he will not negotiate on budget items until the GOP-run House ends the shutdown and raises the debt ceiling.

Obama also scheduled a White House statement on the budget shutdown for 2 p.m.; he will also take questions from reporters.

"The president is willing to negotiate with Republicans -- after the threat of government shutdown and default have been removed -- over policies that Republicans think would strengthen the country," said a White House readout of the 10:45 a.m. phone call to the House speaker.....<read>...... "

Obama calls Boehner, will speak at 2 p.m.




Obama is offering to negotiate on anything the Republicans want as soon as they open up the government.

 

[Blue_State]

I'll start worrying when the Govt. is open and the debt ceiling raised. There will be no talks until then.

Let's hope for more than one option.

 

[jonny5]

So when we default, how does that work exactly? Does the government pay out some percentage to everyone it's legally obligated to, based on whatever cash it has on hand when the bills are due? Or is it in a first-in-first-out system? The oldest liabilities are paid first until cash is gone. When more comes in the next oldest paid?

Theres plenty of cash to pay financial debt, so there wont be any default. The Treasury will simply stop paying for other things such as education dept salaries. or social security payments.

 

[jonny5]

Obama called Boehner.....



"President Obama called House Speaker John Boehner on Tuesday, again telling the Ohio Republican he will not negotiate on budget items until the GOP-run House ends the shutdown and raises the debt ceiling.

Obama also scheduled a White House statement on the budget shutdown for 2 p.m.; he will also take questions from reporters.

"The president is willing to negotiate with Republicans -- after the threat of government shutdown and default have been removed -- over policies that Republicans think would strengthen the country," said a White House readout of the 10:45 a.m. phone call to the House speaker.....<read>...... "

Obama calls Boehner, will speak at 2 p.m.




Obama is offering to negotiate on anything the Republicans want as soon as they open up the government.

If they give him everything he wants, whats to negotiate over? What if they negotiate and nothing comes out of it? Then we get to another cliff and he says the same thing?

 

[vvx]

Theres plenty of cash to pay financial debt, so there wont be any default. The Treasury will simply stop paying for other things such as education dept salaries. or social security payments.

Will they? Does the law require/allow them to prioritize payments? Let's say they do prioritize interest and that the revenues are enough. And that they have enough revenues to pay 50 percent of everything else (just for the sake of easy math). Do they make a 50% social security payment to people?

 

[iguanaman]

Will they? Does the law require/allow them to prioritize payments? Let's say they do prioritize interest and that the revenues are enough. And that they have enough revenues to pay 50 percent of everything else (just for the sake of easy math). Do they make a 50% social security payment to people?

The treasury is in charge of paying the bills and they have stated that it is impossible to pay only debt service because of how their checks are printed. There will be a default if the ceiling is not raised.

 

[davidtaylorjr]

Obama called Boehner.....



"President Obama called House Speaker John Boehner on Tuesday, again telling the Ohio Republican he will not negotiate on budget items until the GOP-run House ends the shutdown and raises the debt ceiling.

Obama also scheduled a White House statement on the budget shutdown for 2 p.m.; he will also take questions from reporters.

"The president is willing to negotiate with Republicans -- after the threat of government shutdown and default have been removed -- over policies that Republicans think would strengthen the country," said a White House readout of the 10:45 a.m. phone call to the House speaker.....<read>...... "

Obama calls Boehner, will speak at 2 p.m.




Obama is offering to negotiate on anything the Republicans want as soon as they open up the government.

Right, luckily Republicans aren't stupid enough to believe him.

 

[jonny5]

Will they? Does the law require/allow them to prioritize payments? Let's say they do prioritize interest and that the revenues are enough. And that they have enough revenues to pay 50 percent of everything else (just for the sake of easy math). Do they make a 50% social security payment to people?

Congressman have said that the Treasury can prioritize interest payments. And since the govt is shutdown, costs are lower, so theres enough left over to pay for mandatory spending. As of Monday, they had 34bn in cash, take in about 12bn a day and spend 8bn a day. Govt doesnt HAVE to spend money, it chooses to, much like the DOD buying a 45k mechanical bull the other day.

 

[vvx]

Congressman have said that the Treasury can prioritize interest payments.

Congressmen don't have a lot of credibility right now.

And since the govt is shutdown, costs are lower, so theres enough left over to pay for mandatory spending. As of Monday, they had 34bn in cash, take in about 12bn a day and spend 8bn a day. Govt doesnt HAVE to spend money, it chooses to, much like the DOD buying a 45k mechanical bull the other day.

So there's no requirement to prioritize then, whether it would be allowed. And per iguanaman the treasury says their procedure makes it impossible to pay only debt service. Seems unlikely we're going to prioritize. So does it revert to first in first out? Everything gets paid ... eventually? A short delay early in the default and as time goes on our payments are more and more delayed?

 

[polgara]

...but, will Reid let him?



It seems to me I remember Obama saying something about him not getting into any negotiations with Boehner. But here he is, suggesting he'll talk. Will Reid be comfortable with that, I wonder? Reid has seemed to enjoy being in the driver's seat up till now and shows no sign of giving it up.



So what is going on here? Is this some kind of rope-a-dope tactic cooked up by Reid and Obama? Or are these two guys no longer on the same page?


I have a funny feeling that liberals across the country are not going to like what is happening here.

They're always on the same page! Nothing has changed except the tactics now being used, so we'll watch to see where this takes us. Keep in mind that it was primarily Reid and Pelosi who headed the writing of Obamacare, so Obama and Reid have a common cause. The problem seems to be that Obama's approval ratings are dropping like a rock, while Congress's approval ratings haven't changed much--they're still in the same low teens they've been in for a while. BHO is taking the brunt of the disapproval, and he doesn't like it!

Greetings, Mycroft. :2wave:.

 

[Wiseone]

...but, will Reid let him?



It seems to me I remember Obama saying something about him not getting into any negotiations with Boehner. But here he is, suggesting he'll talk. Will Reid be comfortable with that, I wonder? Reid has seemed to enjoy being in the driver's seat up till now and shows no sign of giving it up.



So what is going on here? Is this some kind of rope-a-dope tactic cooked up by Reid and Obama? Or are these two guys no longer on the same page?


I have a funny feeling that liberals across the country are not going to like what is happening here.

How messed up is that when Obama makes a notion that he's willing to start giving in somewhat to the Republicans, exactly what they've been asking for, that instead of praising him for his action they mock him instead?

 

[VanceMack]

Both sides are beyond corrupt. No one seems to notice or care that they ALWAYS wait til the government is about to be shutdown before this all of a sudden becomes an issue.

I know a lot of people hold the Libertarian party in disdain, but the absolute fact is that unless the mindless partisan voters finally wake the **** up and stop sending the same party hacks back to DC, nothing will ever change. There is no REASON for them to change.

 

[ARealConservative]

The treasury is in charge of paying the bills and they have stated that it is impossible to pay only debt service because of how their checks are printed. There will be a default if the ceiling is not raised.

bwahahaha. what kind of moron believes that nonsense?

 

[Mycroft]

How messed up is that when Obama makes a notion that he's willing to start giving in somewhat to the Republicans, exactly what they've been asking for, that instead of praising him for his action they mock him instead?

Yes, it is messed up when you can't believe your own President.

 

[Moot]

If they give him everything he wants, whats to negotiate over? What if they negotiate and nothing comes out of it? Then we get to another cliff and he says the same thing?

Life is full of what if's...but you'll never know until you try.

Paul Ryan is adding more conservative demands to the stand off. By adding more demands takes the main focus off Obamacare and gives more wiggle room for both sides in the negotiation to reopen the government.

 

[Moot]

Right, luckily Republicans aren't stupid enough to believe him.

Republicans were stupid to try this stunt in the first place.

 

[davidtaylorjr]

Republicans were stupid to try this stunt in the first place.

What stunt? Only ones pulling stunts are the Democrats.

 

[Moot]

What stunt? Only ones pulling stunts are the Democrats.

Shutting down the government was a political ploy that republicans had been planning for months.

 

[davidtaylorjr]

Shutting down the government was a political ploy that republicans had been planning for months.

Ah broken record syndrome.....

 

[Moot]

Ah broken record syndrome.....

If you weren't in denial mode, I wouldn't have to keep repeating it.