OPEN THREAD: Debt Ceiling Vote TONIGHT!
By Shaun Kenney | Thursday, July 28th, 2011 | Politics
The intel from Bearing Drift’s DC Bureau:
** All Democrats in the House will be voting against the Boehner plan. No exceptions.
** 23 House Republicans are voting against the Boehner plan, including RSC Chairman Jordan. Two more “nay” votes kill the bill.
** Cantor announced a temporary delay in the vote… but the vote is still scheduled for tonight.
** The House plans to be in session over the weekend. Whether that is a safety bet in the event the Boehner bill does not go through, or mere prudence is anyone’s guess.
Bearing Drift contributors are naturally free to update this post as they see fit. Open thread below!
UPDATE: A “clean” Balanced Budget Amendment will be voted on tomorrow… perhaps to placate those who would be upset about the impending passage of the Boehner plan tonight. Erick Erickson over at Redstate has been sounding the alarm that Boehner’s plan will be amended by the Senate with poison pills and then force Boehner and the House GOP to swallow it… perhaps with Democratic support to overcome any conservative opposition?
UPDATE x2: POLITICO is reporting that the vote will be delayed, but that the House will be voting late tonight.
UPDATE x3: Fox Business News is reporting that House leadership is “two votes short” on passing the bill. Which means there are four GOP House members on the fence, if the numbers are to be believed.
UPDATE x4: No vote tonight, folks… Boehner is packing it in for the evening. We’ll see how things shake out in the AM.
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About the author
Shaun Kenney is the Chairman of the Fluvanna County Board of Supervisors, former Communications Director for the Republican Party of Virginia, and an active blogger since 2002. Shaun lives in Thomas Jefferson's backyard with his wife, six children, and a modest attempt at a farm in Kents Store, Virginia.
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9 Responses to "OPEN THREAD: Debt Ceiling Vote TONIGHT!"
The first thing that everyone has to understand is that no bank will be allowed, in real terms, to lose a single dime in this, whatever else may happen. The Treasuries will be paid. Zerohedge has already reported a leaked Treasury plan, and OF COURSE the plan is to pay creditors first if there is no debt ceiling raise. So, there is no “default.” The Dems will try desperately to convince everyone that it is a default, but it is not.
If it becomes necessary for the Fed to deposit a few quadzillion more free dollars in the banks’ excess reserve accounts, then that might happen, but no bank will lose any money.
The rest is Kabuki.
There will be a default indeed — banks won’t lose, but social security checks, veterans pensions, and military paychecks will stop.
So, Cantor has announced that we’re going to have a vote. I assume they have all the votes.
That being said, we all have credit scores. We all want to be in that 800 range. But when our rating is in the 700′s, 600′s or even 500′s – it sends a signal to us: it says we have borrowed too much, are spending too much, haven’t saved enough, and need to repay what we owe.
The same thing is happening with our federal government. If we go to AA – yea, it stinks. But even Taiwan and Japan have decent rates for their 10 year bonds. We’re not going to have a crisis if this happens. All it is is a signal – to start paying our debts, save a little more, spend a little less.
The vote tonight is, of course, Republican hubris coming back to haunt them. Here we are, the House leadership is votes short on passing this bill and they continue to whine and complain about TEA party (so called) representatives not getting on board with the plan. Well, what did they expect to happen ? Remember months ago when Bachmann and others were having the door slammed in their face by the Republican leadership when they wanted to be included in House leadership positions ? Well that’s what you get, if you tell people they can’t play in your sandbox, they aren’t going to plan in your sandbox! You can’t have it both ways, had Bachmann and others been on board from the beginning they’d have some reason to support the damn bill, but you can’t come begging for votes at the last minute and cry when you can’t get them. Old guard Republicans want to keep all the important slots to themselves, fine, how’s that working out now ?
Temporary – that’s an interesting point, but I pray to God bruised egos aren’t what’s bringing us to the brink of default.
JR Hoeft, I think there just would have been more buy in had the TEA party folks been involved in leadership positions, they would have had more input into the bill, more of a stake in the process, etc, they’d naturally support it because they’d have part ownership of it.
Reminds me of what has and is happening in Virginia politics, Republicans in Virginia have been all about keeping the TEA party at arm’s length, talking trash on TEA party supported candidates, etc, they want votes when they want them, the rest of the time they just want the TEA party to keep its mouth shut.
Since I have a tattoo that says “LIVE FREE OR DIE”, figure I might as well stay out of these discussions.
Will You Still Love Me Tomorrow—Amy Winehouse
So, there you have it. There is no republican party anymore; there is a mob that considers themselves to be revolutionaries and who will not act in the best interest of the United States, prefering default, recession, higher interest rates, government closure, and international condemnation, to negotiation and compromise. Will Boehner and Cantor be forced to resign? Who will take their place to be devoured and disrespected so they will be forced to resign as well? Who is in charge of the party of Reagan? Is this really what has become of the republican party?
… Same old, same old….
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