Motley Moose – Archive

Waiting for the someone to take the ball and run with it.

UPDATE Wednesday, 10/16 at 10:20pm Eastern:

House votes to reopen government and raise debt ceiling:

The bill passed 285-144; 144 Republicans voted against it. The Senate had previously passed the bill 81-18. It now heads to the White House, where President Obama has said he would sign it.

Upon Obama’s signature, the first government shutdown in 17 years will end after 16 days.

UPDATE Wednesday, 10/16 at 5pm Eastern:

Speaker John Boehner (R-OH): “… blocking the bipartisan agreement reached today by the members of the Senate will not be a tactic for us.”

Chamber of Commerce: The U.S. Chamber of Commerce announced Wednesday that it supports the new Senate plan to end the shutdown and raise the debt ceiling, and it will include the measure as a key vote.

Clown King Ted Cruz (R-TX): Cruz told a gaggle of reporters that he has “no objections” to the Senate holding a vote

The much ballyhooed Senate bill (re-open the government until January 15th, raise the debt ceiling through February 15th, conference on budget) which was  to be voted on and sent to the House of Representatives was held after the House floated their “counteroffer”: a bill festooned with poison pills ornaments including big sloppy kisses to the Catholic bishops and medical device lobbyists.

The White House was quick to reject what it called the latest “ransom demand” (take that whiney White House reporters!!) and the ball is back in the Senate’s court.

This afternoon President Obama and Vice President Biden will meet with Treasury Secretary Jack Lew. The Fitch warning will likely be one of the topics:

“Fitch continues to believe that an agreement will be reached to end the current political impasse and raise the U.S. debt ceiling,” the agency said in a press release. “Even if the debt limit is not raised before or shortly after 17 October, we assume there is sufficient political will and capacity to ensure that Treasury securities will continue to be honoured in full and on time.”

While Fitch said that it remained confident Congress would ultimately reach a deal to raise the debt ceiling ahead of the Oct. 17 deadline, future ratings of U.S. holdings would be dependant on the “manner and duration of the agreement and the perceived risk of a similar episode occurring in the future.”

Translation: “We are looking around desperately to see if there are enough adults in Congress to justify our belief that the United States is credit worthy”.

BREAKING NEWS Thursday, October 10, 2013 10:36 AM EDT

House Republicans Discuss Plan for Short-Term Increase in Debt Ceiling

House Republicans gathered Thursday morning to discuss a plan to lift the government’s statutory borrowing limit temporarily to allow for negotiations on a package of deficit reduction and tax reform proposals that could lead to a reopening of the government and an end to the threat of government default.

House Republican leaders jumped on the plan, presented on Wednesday by Representative Paul D. Ryan of Wisconsin, chairman of the House Budget Committee. Meantime, a group of Republican senators has begun meeting with Senator Mitch McConnell of Kentucky, the Republican leader, to find a bipartisan solution to the twin fiscal impasses.

The senators are examining a year-long resolution funding the government at levels that reflect automatic spending cuts known as sequestration, but with added flexibility to help government agencies and departments deal with the tight budgets. The debt ceiling would also be raised.

READ MORE http://www.nytimes.com/2013/10/11/us/politics/debt-limit-debate.html?emc=edit_na_20131010

President Obama held a press conference today where he discussed the shutdown and the impasse over the debt ceiling.

The President:

This morning I had a chance to speak with Speaker Boehner. And I told him what I’ve been saying publicly, that I am happy to talk with him and other Republicans about anything — not just issues I think are important but also issues that they think are important. But I also told him that having such a conversation, talks, negotiations shouldn’t require hanging the threats of a government shutdown or economic chaos over the heads of the American people.

Transcript of the president’s remarks follow.

From the White House – Weekly Address

In this week’s address, President Obama said that Republicans in the House of Representatives chose to shut down the government over a health care law they don’t like. He urged the Congress to pass a budget that funds our government, with no partisan strings attached.  The President made clear he will work with anyone of either party on ways to grow this economy, create new jobs, and get our fiscal house in order for the long haul – but not under the shadow of these threats to our economy.

From the White House – Weekly Address

In this week’s address, President Obama says that on October 1st, a big part of the Affordable Care Act will go live and give uninsured Americans the chance to buy the same quality, affordable health care as everyone else. It is also the day when some Republicans in Congress might shut down the government just because they don’t like the law. The President urged Congress to both pass a budget by Monday and raise the nation’s debt ceiling so that we can keep growing the economy. He also said that those without health insurance and those who buy it on the individual market should visit HealthCare.gov to find out how to get covered on Tuesday.