Obama nudges Wall Street: Maybe it’s time to panic over this debt-ceiling deadline

posted at 5:21 pm on October 2, 2013 by Allahpundit

Nothing complicated here. In order to strengthen his hand in negotiations, the president’s decided to try to kickstart a hopefully not-too-damaging market sell-off over the debt ceiling. The more the Dow drops tomorrow, the more Boehner and other moderate Republicans will think twice about letting this process play out all the way up to the deadline on October 17th. And if the market doesn’t dive sharply enough — maybe “only” 200 or 300 points — he can always nudge it again next week with more dire rhetoric. It might take losing a thousand points or even two, but damn it, if that’s what it takes to teach these tea partiers not to scare the hell out of markets by behaving irresponsibly, then oh well.

The irony is, some of the GOP’s critics have said, not without reason, that some damage from hitting the debt ceiling might be incurred before we actually hit it if investors lose faith that this is just brinksmanship and that the two sides will make a deal before the debt limit is reached. Well, here’s O telling them: Yep, your faith that the United States will certainly meet its credit obligations might be misplaced. And his party will forgive him for it, of course. Just two days ago, the Times published the latest in an undying series of liberal commentary calling on Obama to ignore the law and raise the debt ceiling himself, either via the Fourteenth Amendment or by, ahem, minting a trillion-dollar platinum coin. What’s a little market panic, which of course will be blamed on Republicans, compared to “solutions” as drastic as that?

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I hope it tanks. I’m still in the buying phase of my retirement planning, so I hope it goes to 1000. Then, the day before I retire, I want it to go to 100,000. Something about buying low and selling high comes to mind.

Wino on October 2, 2013 at 5:23 PM

This man is disgusting. It’s so obvious what he’s doing. Why can’t everyone see it?

Jack_Burton on October 2, 2013 at 5:24 PM

#jobcreators

I remember when that was a thing.

Can.I.be.in.the.middle on October 2, 2013 at 5:24 PM

I hope it tanks. I’m still in the buying phase of my retirement planning, so I hope it goes to 1000. Then, the day before I retire, I want it to go to 100,000. Something about buying low and selling high comes to mind.

Wino on October 2, 2013 at 5:23 PM

and I bet you voted…

Can.I.be.in.the.middle on October 2, 2013 at 5:25 PM

Maybe it’s time we had a president that can actually lead.

sadatoni on October 2, 2013 at 5:25 PM

Operation Hope and Change going as planned!!!

Snitchmo on October 2, 2013 at 5:25 PM

I hope the markets ignore him. Just like I do everyday.

VegasRick on October 2, 2013 at 5:25 PM

Obama’s reminding me of Frank Drebin right about now.

“Two can play at that game!”

KingGold on October 2, 2013 at 5:28 PM

Maybe it’s time we had a president that can actually lead.

sadatoni on October 2, 2013 at 5:25 PM

I’d settle for a President that knows when it’s time to shut up.

Chris of Rights on October 2, 2013 at 5:28 PM

This man is disgusting. It’s so obvious what he’s doing. Why can’t everyone see it?

Jack_Burton on October 2, 2013 at 5:24 PM

Judicial blindness. This is a country under judgment. The coming years will make this time look great.

Murphy9 on October 2, 2013 at 5:28 PM

Democrats are not serious about governing. Big surprise there.

Punchenko on October 2, 2013 at 5:28 PM

Let me be clear: I’m not exactly saying that your money will be worthless, Wall Street will be burned to the ground, roving bands of thugs will murder your children and kidnap your wives and daughters, and that you should stock up on canned goods and gold bars. I’m just saying that these are all possibilities if the House doesn’t do as I say.

DarthBrooks on October 2, 2013 at 5:28 PM

Anyone here drive a Tesla?

VorDaj on October 2, 2013 at 5:29 PM

All he has to do is suggest an end to the money printing and Wall Street will take a huge dump.

forest on October 2, 2013 at 5:29 PM

It’s ALL about Barry. ALL the time. The country can go get screwed!

GarandFan on October 2, 2013 at 5:29 PM

Anyone here drive a Tesla?

VorDaj on October 2, 2013 at 5:29 PM

That’s good for the environment. LOL!

Murphy9 on October 2, 2013 at 5:30 PM

lol!

https://twitter.com/chucktodd/status/385498693203292160

jawkneemusic on October 2, 2013 at 5:31 PM

Anybody think that having the meeting at 5:30 PM is perfect timing for a 10 minute meeting where nothing happens, then a 10 minute speech by Obama attacking the Republicans, right before the 6:30 news?

KMav on October 2, 2013 at 5:34 PM

It’s all about optics, and from the President’s position, the political optics are dismal as we wrap up the 2nd day of the federal government shutdown.

And to correct this, the desperate petulant President seeks to tank the stock market in order to shore up his untenable negotiating position?

What’s the progressive-fascist playbook?

Lie? Check
Fearmonger? Check
Demagogue? Check
Inflict maximum pain for political advantage? Check
Move the goalposts when still stuck? Check
Attempt to tank market/economy for political advantage? Check

Then it’s rinse and repeat….

Athos on October 2, 2013 at 5:34 PM

Let the big pile of monkey puke marxist talk up a market crash. It’ll be on him and the media can’t spin it away.

bgibbs1000 on October 2, 2013 at 5:34 PM

Obama reaching out the 1%

Libtard reaction……Yawn.

sentinelrules on October 2, 2013 at 5:34 PM

Maybe enough people on Wall Street have finally figured out that continually raising the debt ceiling may not be the best thing to do.

Although credit card companies love it when you spend a lot on their cards, at some point even they will stop raising your credit limit.

dentarthurdent on October 2, 2013 at 5:36 PM

I think one big positive about this shut down and if the Republicans can hold for two weeks is that it shows Obama that we are not afraid of a shut down and a shut down isn’t that scary and maybe he will be more apt to negotiate before the debt ceiling. If we had not shutter down this time, he probably would have thought we were just bluffers then.

KMav on October 2, 2013 at 5:37 PM

I never wanted to believe the people who said that this man, our President, was purposefully trying to crash the economy and destroy the foundation of our government in order to establish his utopian socialist state.

Pass the tin foil please. I’m ready to be taken to the conspiracy mother ship.

MississippiMom on October 2, 2013 at 5:38 PM

So it’s actually Obama who is the hostage taker.

gwelf on October 2, 2013 at 5:38 PM

“Nice retirement nest egg you’ve got there. Shame if something happened to it.” –President HopeNChange

UnderstandingisPower on October 2, 2013 at 5:38 PM

I have a $100,000,000,000.00 bill from Zimbabwe. It’s real. It won’t buy you a Coke over there too.

Bring on the coin!!~!

patman77 on October 2, 2013 at 5:38 PM

We need to cut off this guys golf money.

gwelf on October 2, 2013 at 5:38 PM

Why is John Boehner still the Speaker Of The House?

Mr. Arrogant on October 2, 2013 at 5:38 PM

I hope it tanks. I’m still in the buying phase of my retirement planning, so I hope it goes to 1000. Then, the day before I retire, I want it to go to 100,000. Something about buying low and selling high comes to mind.

Wino on October 2, 2013 at 5:23 PM

I loathe Obamacare, and the President, and Harry Reid, and all of the rest of the Democrat mess. That being said, I don’t want the market to tank. Few, if any, who invest would want such a thing.

Throat Wobbler Mangrove on October 2, 2013 at 5:38 PM

No one wins from a President trying to talk Wall Street into a crisis. Bad if markets tank. Bad if markets ignore a president.

This disgraceful man has been trying to rabble-rouse the country into a crisis and set it on fire ever since he was elected. He’s broken the law and trampled on the Constitution, and emboldened other Leftists in their bullying.

INC on October 2, 2013 at 5:39 PM

That being said, the Republicans should hold firm in their position. It is the President who is being utterly irresponsible here.

Throat Wobbler Mangrove on October 2, 2013 at 5:40 PM

But, but, I though Obama was so rattled by the terrible optics on the Obamacare roll out and the fiasco at the WWII Memorial, with the media just hammering him and the Democrats on it all day, that he called a meeting to grovel in front of Boehner and beg for whatever deal he can get?

Mr. Arkadin on October 2, 2013 at 5:40 PM

Aaaaaand the desperation sets in.

The vets were supposed to quietly start crying as they were turned away from the memorial, the NIH children were supposed to go unnoticed and unheeded with a CR, the markets were supposed to head south at light speed, the tourists were supposed to be rioting in the streets at not being able to stand right next to the Washington Monument.

Then it all fell apart; the best laid plans of a Dog Eating mouse.

Bishop on October 2, 2013 at 5:40 PM

Never let a good crisis go to waist.

Rich H on October 2, 2013 at 5:40 PM

So it’s actually Obama who is the hostage taker.

gwelf on October 2, 2013 at 5:38 PM

Well, let’s see…

#BarryCadeHostages
White House tours
WWII vets
National (OUTDOOR, OPEN AIR) Monuments
Children with Cancer
The Army/Navy Game

UnderstandingisPower on October 2, 2013 at 5:40 PM

That being said, the Republicans should hold firm in their position. It is the President who is being utterly irresponsible here.

Throat Wobbler Mangrove on October 2, 2013 at 5:40 PM

Do you think they will? I hear there are now at least 18 Rep. house members begging for a vote on a clean CR…

sandee on October 2, 2013 at 5:41 PM

“Chaos, panic and disorder- my work here is done.”

Fallon on October 2, 2013 at 5:41 PM

Oh…

#BarryCadeHostages
Wall Street
Grandma’s Nest Egg
Your Retirement
Your Healthcare

UnderstandingisPower on October 2, 2013 at 5:41 PM

and I bet you voted…

Can.I.be.in.the.middle on October 2, 2013 at 5:25 PM

Your paramour wants it to go down to help him and then once he gets what he wants he’ll want it to go back up. So really what is the difference between Wino and Obama when it comes to the stock market.

and I bet you voted….

chemman on October 2, 2013 at 5:41 PM

Why isn’t Boehner out declaring that it’s time to stop kicking the can down the road?

Maybe he’s content to pick his now, quickly retire, and hope that no one remembers that he’s been in Congress for years.

BuckeyeSam on October 2, 2013 at 5:42 PM

Mr. Arkadin on October 2, 2013 at 5:40 PM

I think Bishop answered you in the very next comment.

Bishop on October 2, 2013 at 5:40 PM

Obama’s desperately seeking another venue for his shutdown theater. It closed in D.C., and I think it’s headed for a short run in New York.

INC on October 2, 2013 at 5:43 PM

President Petulant’s temper tantrum isn’t working, so he has to double down.

rbj on October 2, 2013 at 5:44 PM

The Army/Navy Game

UnderstandingisPower on October 2, 2013 at 5:40 PM

Just one minor correction – for THIS weekend it’s actually the Air Force-Navy game.
If it continues into December, then it might impact the Army-Navy game.

dentarthurdent on October 2, 2013 at 5:45 PM

The boy king would love the market to tank. Every day it comes back a bit he is saddened.

Bmore on October 2, 2013 at 5:46 PM

and I bet you voted…

Can.I.be.in.the.middle on October 2, 2013 at 5:25 PM

We know you voted. And for whom. Thanks for everything.

Bishop on October 2, 2013 at 5:47 PM

Obama nudges Wall Street: Maybe it’s time to panic over this debt-ceiling deadline


Old & Busted:

‘I rise today to talk about America’s debt problem.

The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion. That is ‘‘trillion’’ with a ‘‘T.’’

Numbers that large are sometimes hard to understand. Some people may wonder why they matter. Here is why: This year, the Federal Government will spend $220 billion on interest. That is more money to pay interest on our national debt than we’ll spend on Medicaid and the State Children’s Health Insurance Program. That is more money to pay interest on our debt this year than we will spend on education, homeland security, transportation, and veterans benefits combined. It is more money in one year than we are likely to spend to rebuild the devastated gulf coast in a way that honors the best of America.

And the cost of our debt is one of the fastest growing expenses in the Federal budget. This rising debt is a hidden domestic enemy, robbing our cities and States of critical investments in infrastructure like bridges, ports, and levees; robbing our families and our children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on.

Every dollar we pay in interest is a dollar that is not going to investment in America’s priorities. Instead, interest payments are a significant tax on all Americans—a debt tax that Washington doesn’t want to talk about. If Washington were serious about honest tax relief in this country, we would see an effort to reduce our national debt by returning to responsible fiscal policies.’

– Senator Barack Obama, (D-IL), floor of the Senate, 16 March 2006, BEFORE VOTING – ALONG WITH EVERY OTHER DEMOCRAT IN THE SENATE – NOT TO RAISE THE NATION’S DEBT CEILING

New Hotness:

‘Absolutely, I will not negotiate…because if we establish a pattern whereby one faction of one party controlling one chamber in Congress can threaten default, that the United States of America is no longer meeting its obligations and fulfilling the full faith and credit of the United States…then we’ve established a pattern that fundamentally changes the nature of our government. At that point, any president — not just me — any president is subject to that kind of blackmail continuously.

That’s not how our Constitution was designed. Raising the debt ceiling is not raising the debt; it is simply saying Congress is authorizing the Treasury to pay for those things that Congress has already approved.’

– President Barack H (for HYPOCRISY) Obama, 30 September 2013

Resist We Much on October 2, 2013 at 5:47 PM

chemman on October 2, 2013 at 5:41 PM

My apologies to Wino. I know he is certainly different than Obama. Wino wants to make money to take care of himself while Obama wants to scare the p*ss out of investors to get his way.

chemman on October 2, 2013 at 5:47 PM

Remember when the non-financial Presstitute Organs were breaking bad on Presidents (really, Presidential candidates) talking down the economy? Good times, good times.

Steve Eggleston on October 2, 2013 at 5:47 PM

Fake but true protests! Let’s pay people $15 to go protest WWII vets…

http://www.thegatewaypundit.com/2013/10/busted-seiu-organizes-fake-protesters-at-wwii-memorial/

They. Are. DESPERATE!

UnderstandingisPower on October 2, 2013 at 5:48 PM

So remember investor friends of HA, only have money in the market you can afford to lose. ; )

Bmore on October 2, 2013 at 5:48 PM

LET. IT. BURN.

burserker on October 2, 2013 at 5:48 PM

All he has to do is suggest an end to the money printing and Wall Street will take a huge dump.

forest on October 2, 2013 at 5:29 PM

.
The SCOAMF’s administration is not only the Most Corrupt EVER …. they are also the DUMBEererererEST !!!

You want the market’s to TANK?

Have a couple of “highly placed Administration officials” source TWO leaks:

1) The administration, in an effort to regain credibility with its base, is going to pursue a “take no prisoners” approach on the banks’ mortgage fraud settlements. JPMorgan, having balked at the entirely reasonable $ 20 billion proposal (6 months of profit) is going to be sued for $ 40 billion. The administration estimates it will win settlements totalling $ 100 billion. Any bank executives fighting the settlemetns too hard will have criminal investigations opened against them by the FBI.

2) The President is SOOOO concerned with “bubbles” forming in the economy, he has gotten Paul Volcker to agree to return as Federal Reserve Chairman.

The S&P will be back at 666 faster than you can say, “Satan!”

PolAgnostic on October 2, 2013 at 5:48 PM

‘Because this massive accumulation of debt was predicted, because it was foreseeable, because it was unnecessary, because it was the result of willful and reckless disregard for the warnings that were given and for the fundamentals of economic management, I am voting against the debt limit increase.’

- Senator Joe Biden, 2006

Resist We Much on October 2, 2013 at 5:48 PM

President Petulant’s temper tantrum isn’t working, so he has to double down.

rbj on October 2, 2013 at 5:44 PM

“come-on guys, help a brutha out, just a little crash purdy pleeeeeas, you’re makin me look insignificant”/Barky or Verbalunatic

(not that Barky could actually use big a word like “insignificant” – and besides it would violate his narcissism)

dentarthurdent on October 2, 2013 at 5:48 PM

So remember investor friends of HA, only have money in the market you can afford to lose. ; )

Bmore on October 2, 2013 at 5:48 PM

Too almost all of mine out when President Hope&CHANGE took office, knowing it was quite possible all I would have left was CHANGE with him in there.

UnderstandingisPower on October 2, 2013 at 5:49 PM

Obama, do you know how many times Chuck Schumer voted against raising the national debt ceiling?

If you didn’t answer ‘four times’…

For the record, here are the four occasions, as documented by congressional records.

* H.R. 2015, Roll Call Vote #241: Passed 270-162, 06.25.97.

Schumer Voted Nay

* H.J. Res. 51, Roll Call Vote #202: Passed 53-44, 05.23.03.

Schumer Voted Nay

* S. 2986, Roll Call Vote #213: Passed 52-44, 11.07.04

Schumer Voted Nay

* H.J. Res. 47, Roll Call Vote #54: Passed 52-48, 03.16.06.

Schumer Voted Nay

‘Biking through New York’s boroughs in 2005, I thought about some old friends, Joe and Eileen Bailey. Though they are imaginary, I frequently talk to them.’

- Senator Charles Schumer

I think that Joe and Eileen Bailey speak to Chucky and tell him not to vote to raise the debt ceiling limit when a Republican is in the WH or the GOP controls Congress.

I mean, seriously, who wants to risk going against the wishes of IMAGINARY PEOPLE?

Resist We Much on October 2, 2013 at 5:50 PM

I get the whiff of Chicago around this guy, not sure why.

gwelf on October 2, 2013 at 5:50 PM

I hate him. I find nothing at all appealing about him.

gophergirl on October 2, 2013 at 5:51 PM

The things you can get away with saying if you’re a democrat president.

supernova on October 2, 2013 at 5:51 PM

You know who I go to for keen financial insight and advice, a guy with zero executive or financial experience whose sole exposure to economics consisted of doling out other people’s money through a foundation.

I also like to ask the kid who bags groceries down at the Pik-n-Wipe his advice on the best surgical techniques for a torn ACL.

Bishop on October 2, 2013 at 5:51 PM

Do you think they will? I hear there are now at least 18 Rep. house members begging for a vote on a clean CR…

sandee on October 2, 2013 at 5:41 PM

.
Those 18 have been in favor of a clean CR from the get go. The article is just HuffPo carrying the Administration’s talking points.

PolAgnostic on October 2, 2013 at 5:51 PM

9/11/01: 19 terrorists tries to panic & destroy our economic center.

10/2/13:Obama tries to panic & destroy our economic center.

20th terrorist?

portlandon on October 2, 2013 at 5:52 PM

WS “fluke you, turkey”

Schadenfreude on October 2, 2013 at 5:52 PM

Time to buy?

petunia on October 2, 2013 at 5:53 PM

Oh, and the markets WILL tank tomorrow. The one piece of economic data the Department of Labor will put out is the jobless claims report (7:30 am CDT, 8:30 am EDT, 1 hour before the markets open), and there’s about 40-50K of “missing” initial jobless claims from mostly California over the course of the last few weeks that “should” hit tomorrow.

Old And Busted – bogus 300K initial jobless claims
New Hawtness – bogus 380K initial jobless claims

So, even though the law of averages will (assuming California and Nevada are finally caught up) finally put initial jobless claims at the 325K-330K they have been the last couple months, there will be a panic on the markets.

Steve Eggleston on October 2, 2013 at 5:54 PM

9/11/01: 19 terrorists tries to panic & destroy our economic center.

10/2/13:Obama tries to panic & destroy our economic center.

20th terrorist?

portlandon on October 2, 2013 at 5:52 PM

Obama’s boo bombed the Pentagon too.(William Ayers)

Murphy9 on October 2, 2013 at 5:54 PM

Time to buy?

petunia on October 2, 2013 at 5:53 PM

I wouldn’t touch this market with a 10-foot pole. Then again, I don’t have quite the trading analytical ability some other people have naturally and others have via their pre-programmed ocmputers.

Steve Eggleston on October 2, 2013 at 5:55 PM

Alas, the sequester left the country in ruins and the recent government shut-down has turned my former community into a Mad-max thunderdome.

Default? Why not?

Deafdog on October 2, 2013 at 5:55 PM

This is the GOP’s waterloo.

libfreeordie on October 2, 2013 at 5:21 PM

Schadenfreude on October 2, 2013 at 5:56 PM

Let it burn

cmsinaz on October 2, 2013 at 5:57 PM

The empty Armani speaks a lot and still says nada.

Schadenfreude on October 2, 2013 at 5:57 PM

‘The problem is that the way Obama has done it in the last 1,717 days is to take out a credit card from the Bank of China in the name of our children and unleash the hounds at the Federal Reserve, driving up our national debt from $10,628,881,485,510.23 from the first 43 presidents to $16,738,183,526,697.32.

No. 44 has added $6,109,302,041.09 by his lonesome. So we now have over $16,738,183,526,697.32 of debt that we are going to have to pay back. $53,995.17 for every man, woman, and child.

If President Obama called President George W Bush irresponsible and unpatriotic for presiding over a $4,901,104,747,205.59 increase in the national debt over 8 years, then what does he think we should call him for spending $6,109,302,041.09 in 1,717 days?

‘Irresponsible and unpatriotic’ sound too mild in comparison; perhaps, ‘treasonous’ might be a more apt description of Mr Obama’s spending.’

- RWM, 2 October 2013

Resist We Much on October 2, 2013 at 5:58 PM

No one wins from a President trying to talk Wall Street into a crisis. Bad if markets tank. Bad if markets ignore a president.

— Adrian Gray

Dummy in Chief, always

Schadenfreude on October 2, 2013 at 6:00 PM

How long did Belgium go without a government?

Can we try to beat their record?

Murphy9 on October 2, 2013 at 6:01 PM

This man is the anti-President. He is the antithesis of everything we have always generally valued in our leaders. He’s dishonest, divisive, basically a poison to the body politic. That he came to power is a scandal. That he won re-election is a disgrace. He’s now at the wrenching point for the country he has sought all along. This entire farce is about destroying the republicans and establishing a one-party government entitlement State. He stands a decent chance of success, if for no other reason than the Republicans STILL DON’T UNDERSTAND who he is.

rrpjr on October 2, 2013 at 6:01 PM

Do not cave.

Iblis on October 2, 2013 at 6:02 PM

Just one minor correction – for THIS weekend it’s actually the Air Force-Navy game.
If it continues into December, then it might impact the Army-Navy game.

dentarthurdent on October 2, 2013 at 5:45 PM

Sorry. Not big on college sports, but I read that one in passing today that the athletic director said it was because of “optics” that they were told they couldn’t play. It wasn’t financial as both are somehow privately funded. Struck me as odd that O would do such a thing…

NOT!

(My apologies to the Air Force & Army!)

UnderstandingisPower on October 2, 2013 at 6:03 PM

Let it burn

cmsinaz on October 2, 2013 at 5:57 PM

I second this emotion.

This is his presidency. This is his economy. These are his policies. In 100 years historians will wonder why Obama, as the leader of the free world, couldn’t manage this crisis. This is all on Obama and if he wants to start scaring the market then let’s bring the market down and see how he likes that.

hisfrogness on October 2, 2013 at 6:04 PM

It might take losing a thousand points or even two, but damn it, if that’s what it takes to teach these tea partiers not to scare the hell out of markets by behaving irresponsibly, then oh well.

So. The Tea Party has put the fear of God into the mighty Wall St.?

Must be doing something right.

No one wins from a President trying to talk Wall Street into a crisis. Bad if markets tank. Bad if markets ignore a president.

The markets will ignore a president if they know he’s an idiot.

MichaelGabriel on October 2, 2013 at 6:04 PM

Time for Congress to start loading up on empty chairs.

HiJack on October 2, 2013 at 6:12 PM

UnderstandingisPower on October 2, 2013 at 6:03 PM

No problem. Lots of people don’t know the difference or don’t follow them.
For college level football:
Air Force-Navy is/was this weekend
Air Force-Army is/should be Nov 2
Army-Navy is/should be Dec 8.

dentarthurdent on October 2, 2013 at 6:14 PM

MeanWhile,…………………………………..

White House meeting with congressional leaders on debt ceiling, government shut down underway – @politico

22 mins ago from http://www.politico.com by editor

http://www.breakingnews.com/topic/us-debt-ceiling-debate-2013
==============================================================

Government shutdown: W.H. meeting with lawmakers underway
*********************************************************

| 10/2/13 9:38 AM EDT Updated: 10/2/13 5:45 PM EDT

But President Barack Obama had just told CNBC

[that he wasn’t in any mood to negotiate]

on what he considers to be core responsibilities of Congress.

(More……….)
==================

http://www.politico.com/story/2013/10/government-shutdown-2013-day-two-97719.html

canopfor on October 2, 2013 at 6:14 PM

This is the GOP’s waterloo.

libfreeordie on October 2, 2013 at 5:21 PM

Schadenfreude on October 2, 2013 at 5:56 PM

Ya know for a guy who claims to teach history & is an Obama supporter this is a pretty weird comment – Given that Napoleon was defeated at Waterloo & Obama more akin to the Monarchist than the GOP.
So he’s basically saying that Obama will be defeated and the GOP will win.
okay.

batterup on October 2, 2013 at 6:15 PM

‘Every time the Dow goes down 100 points we pick up another seat.’

- Former Democrat House leader and two-time presidential candidate, Democrat Dick Gephardt

Resist We Much on October 2, 2013 at 6:18 PM

Am I the only one who thinks that was a planted question?

BKeyser on October 2, 2013 at 6:18 PM

There is or was over $1 TRILLION in the TSP accounts of former and current Federal workers. Have they blown through all of that on paper already?

Johnnyreb on October 2, 2013 at 6:18 PM

Obama on @CNBC:

‘When you have a situation in which a faction is willing potentially to default on US government obligations then we are in trouble’

– @ShawnaNBCNews

2 hours ago from twitter.com/ShawnaNBCNews by editor

canopfor on October 2, 2013 at 6:21 PM

What’s basically underpinning today’s market are the trillions of quantitative easing – so it’s not on a real strong standing. End QE – and the market is down 20% easily, quite likely more.

Barack Obama wants to remind Wall Street that they are accountable to him – he’s holding the sword of Damocles over them.

He’s also willing to send the market down just so that he can tout, ‘I told you so’ and gain political advantage by it. This is politics and nothing but politics. He’s in a losing position. The optics are horrible, the efforts to inflict pain are backfiring, and the GOP is showing little sign of surrendering on either the funding of the government or debt ceiling. He has to do something desperate to save his second term and his Presidential legacy.

On top of all of this, Obama has just confirmed why the Congress and the entire country are at the highest stage of polarization since the day before the Confederates fired on Fort Sumter.

Athos on October 2, 2013 at 6:23 PM

Hmmm, how many folks are borrowing against their retirement in this crap employment and economy right now?

You take the tax hit and penalty… then – a decrease in net value to boot!

Odie1941 on October 2, 2013 at 6:24 PM

I never wanted to believe the people who said that this man, our President, was purposefully trying to crash the economy and destroy the foundation of our government in order to establish his utopian socialist state.

Pass the tin foil please. I’m ready to be taken to the conspiracy mother ship.

MississippiMom on October 2, 2013 at 5:38 PM

Welcome aboard, sister!

SailorMark on October 2, 2013 at 6:24 PM

Obama on @CNBC:

‘When you have a situation in which a faction is willing potentially to default on US government obligations then we are in trouble’

– @ShawnaNBCNews

2 hours ago from twitter.com/ShawnaNBCNews by editor

canopfor on October 2, 2013 at 6:21 PM

Unfortunately, knowing there is a problem is only half the battle. Admitting to oneself one is the problem is the harder half.

Unless there is a mass exodus out of Treasury securities, the only two people who have the ability to default on US Treasury securities are Teh SCOAMT and his Treasury Secretary Jack Lew.

Steve Eggleston on October 2, 2013 at 6:25 PM

All Wall St will do is take profits, while driving the markets down – with full cover from the President.

Rinse and repeat.

Odie1941 on October 2, 2013 at 6:25 PM

Please, can we have a heads-up for the next Jobs Pivot?
That is a Short signal isn’t it?

Another Drew on October 2, 2013 at 6:28 PM

There is or was over $1 TRILLION in the TSP accounts of former and current Federal workers. Have they blown through all of that on paper already?

Johnnyreb on October 2, 2013 at 6:18 PM

Or at least the portion they’re able to blow through. What the Treasury has been doing since May 19 is, instead of buying Treasury securities with the daily cash excess generated in those accounts and then spending the cash (which raises the amount of debt subject to the limit), the Treasury has been directly spending that cash and putting an IOU which doesn’t count against the debt limit into the TSP accounts.

In the private sector, that would be known as underfunding the retirement accounts.

Steve Eggleston on October 2, 2013 at 6:29 PM

No one wins from a President trying to talk Wall Street into a crisis. Bad if markets tank. Bad if markets ignore a president.

Actually, the American people get to see him for what he is; A Desperate, small and viscous communist thug. Like Chavez.

Everyone knows what he’s doing.

If things with TheSkyIsFalling 2.0 went according to plan he wouldn’t need to do this.

But, version 2.0 is working out as well as ZeroCare exchanges.

dogsoldier on October 2, 2013 at 6:35 PM

No problem. Lots of people don’t know the difference or don’t follow them.
For college level football:
Air Force-Navy is/was this weekend
Air Force-Army is/should be Nov 2
Army-Navy is/should be Dec 8.

dentarthurdent on October 2, 2013 at 6:14 PM

Love all the branches and am VERY grateful to ALL of them. Just don’t follow ‘em on the college gridiron. Thanks for the heads’ up.

UnderstandingisPower on October 2, 2013 at 6:36 PM

and I bet you voted…

Can.I.be.in.the.middle on October 2, 2013 at 5:25 PM


What’s your point? Some kind of intimidation factor or some responsibility for the fact that we have an immature, economically illiterate terrorist in the White House? Hard to see what you’re getting at when it is so obvious that the Democrats expect Republicans to cave and the media to “take of business” for them as they always have in the past. Doesn’t look like it’s happening this time, too bad so sad, don’t be mad, you’re not rad.
.
Didja get that? Øbama is an economic terrorist and he’s also a racial bigot. Truth, and everybody who voted gets his narcissistic passive-aggressive temperament to put up with, daily, day in and day out, all day. Sickening.

ExpressoBold on October 2, 2013 at 6:37 PM

this has to be the most stupid thing O has done and he’s done a lot.

CoffeeLover on October 2, 2013 at 6:38 PM

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