TBD

TBD on Ning

Now that Syria is back in the box, guns are not going to be an issue that gets resolved...or voting rights...or immigration....the end is neigh!

The end of government as we know it, at least for a time as the forces of the adamant, tea party, right met the implacable, progressive left are head to the cliff, once again. This time, each has dug in its heals as the tea-party Republicans are going after Obamacare and the Obama administration is saying over its no bargain stance, that will happen.

Of course, this has happened before, as the next fiscal year budget( a budget which has not occurred in years), is tied together with the debt ceiling expansion required before default. As of now, it is seems that each will hold on to the other as they leap in to the abyss, the end of government as we know it, a least for a while.

In the meantime, the Fed is trying to keep things above water by announcing that the T-word remains unspoken as to when and how much the taper will be and when. Worse, the Fed has cut the forecast into the lower to around 2% increase in GDP for the rest of the year and doesn't see a swing to upside that will gather steam and require some sort of change in policy from easy money to something else is postpone until somewhere in 2014.

Of course, most see this as more political theater and the end means that a deal will be done. The question is what will be the deal, how much damage will be done to the right and congress, to the left and the Obama administration, to the American and world economy, and how this will all be used in the mid-term 2014 elections, are what is ultimately at stake.

As the Chinese curse is alleged to say...May you live in interesting times....CNN, FoxNews and MSNBC certainly hope so....much less the American people and the rest of the world as they watch and listen, again.

Tags: abyss, economy, government

Views: 39

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So, the House passed the Continuing Resolution with Obamacare defunding and the Senate has yet to schedule debate and the rules of debate that will be used.  Of course, it has to happen soon and will, with the result of a changed bill returned to the House without the defunding clause, and of course with the clocking ticking to midnight of the 30th and the government shutdown.

It would appear that most of the House Republicans view this as theater and for the constituents and to outflank being primaried, however, there remains the true believers and what will, in the end, Boehner do to get around them with a Continuing Resolution that will be accepted by the Senate and signed by the president.  What will come out of this is the probable acceptance of sequestration at minimum and keep it in force until it can be dealt with later.   

Once this is done, then the real crisis begins with the debt ceiling confrontation which could be the real test of how far the Republican House caucus minority will go to put the US in default and for what.

The Cruz-a-thon is over and the voting on the bill will begin, probably today.  

Still no resolution in sight as to what Continuing Resolution will be crafted, and can it be passed in time to avoid shutdown.  Wall Street is not hopeful, as Dow is down again.  Pundits are still only speculating as to what Boehner can do with the Raucous Caucus to bring them on board and give them cover now that the ObamaCare issue is considered settle as to defunding.

Still, even if a deal is done, it does not deal with the Debt Ceiling issue( now estimate that the Treasury will run out of funds around the 13th of October) and whatever is passed will be time limited as to when it has to be renewed, yet again. 

Government in crisis has become the general operating procedure, and makes 2014 a bigger election as to whether any of this can be settled at the ballot box in November, or only carried on to the next presidential election season which has started already, as to posturing and posing, if not hard core fund raising and organization.  As of now it is a question of not who is running for president, it is who isn't?  The more rational question is, why?  Why would anyone want the job?

the good part about cruz's quest for attention is he just might have managed to screw the pooch for any chance at election from anyplace but texas. to my way of thinking he has exposed himself as a right wing idiot and alienated his own party. yay!

"All politics is local" -- Tip O'Neill, Speaker of the House, 1977-1987, which sums up what Cruz was doing, building his cred's with the right of Texas and insulating himself from any future challenge as a freshman senator elected in 2012, by 56% of the vote.

As to whether this makes him relevant to the national stage isn't clear, or going to be clear for awhile, as 2014 and 2016 have to play out.  What he does do, Cruz, that is, is give an alternative to Marco Rubio of Florida as the sorta Hispanic representative of the right.

And yes, his "filibuster" gives him a parallel resume event to Wendy Davis, which would also play in the Texas as to a governorship run, which is maybe where Cruz is headed to anyway as he finds the senate not the right stage for his ambitions. 

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