Breaking- US Senate negotiators 'very close' to announcing a deal on debt: Report

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posted on Oct, 16 2013 @ 09:08 AM
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U.S. Senate negotiations on legislation to raise the country's debt limit and reopen government agencies are nearing completion and a deal could be announced soon, a senior Senate Democratic aide said on Wednesday.

The aide, who asked not to be identified, added that there were ``indications'' that once a deal is announced, the Senate might be able to move quickly to pass it. That could mean that Tea Party activists, such as Republican Senator Ted Cruz, do not intend to throw up procedural roadblocks.

Breaking- US Senate negotiators 'very close' to announcing a deal on debt: Report

Starting to look like a deal is about to be reached quite a few news outlets reporting that a deal is very close to being made so we should get an announcement soon i would think, also been reading that they are about to do a quick vote but dont know much else about that yet.

Dow Jones just shot up 1% as well and the bond yields have fell as well on this news so could be something good

lets hope so

EDIT

Just saw this as well




The House will vote first on an emerging Senate proposal to open government and lift the debt ceiling, a move that would expedite bipartisan legislation developed by Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell.

The move means that there is now a clear path to end the first government shutdown in 17 years, and the country now appears closer to avoiding the first potential economy-shaking default on U.S. debt. Read more:


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edit on 16-10-2013 by OtherSideOfTheCoin because: (no reason given)




posted on Oct, 16 2013 @ 09:15 AM
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it still needs to pass the house and be signed by the prez. will see. Bahner folding like a cheap lawn chair again.
edit on 16-10-2013 by camaro68ss because: (no reason given)



posted on Oct, 16 2013 @ 09:16 AM
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About damn time!



posted on Oct, 16 2013 @ 09:18 AM
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reply to post by OtherSideOfTheCoin
 


the senate will come up with a deal but the question that needs to be answered is will Congress pass it? Boehner seems to have lost all control over the republicans in congress and there are still a few outspoken, hard line, republicans saying that they won't agree to anything without serious spending cuts.

odds are we could breach the deadline, even with a deal in place, simply due to the timing of the vote and the length of time it takes to put whatever is in this new deal, in place.



posted on Oct, 16 2013 @ 09:19 AM
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reply to post by shaneslaughta
 


yeah they are calling to have a vote on it right now with out delay so looks like this could be it.



posted on Oct, 16 2013 @ 09:20 AM
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reply to post by OtherSideOfTheCoin
 



I hope so, but we all know the underhanded tactics that take place in the senate.

Here is a thousand page bill. You have twenty minutes to read it and make your vote.



posted on Oct, 16 2013 @ 09:21 AM
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Crakeur
reply to post by OtherSideOfTheCoin
 


the senate will come up with a deal but the question that needs to be answered is will Congress pass it? Boehner seems to have lost all control over the republicans in congress and there are still a few outspoken, hard line, republicans saying that they won't agree to anything without serious spending cuts.

odds are we could breach the deadline, even with a deal in place, simply due to the timing of the vote and the length of time it takes to put whatever is in this new deal, in place.


I say let it breach!

By constitutional law under the 14th amendment, our interest on debts must be paid for. This would mean that if we did go over the doom porn date of October 17th, that our bond interest debts will still be paid by law unless Obama orders them not to be paid. This would brake constitutional law and is an impeachable offence.

The government brings in something like 300 billion dollars a month in tax revenue. Our interest on the debt is only 30 billion dollars a month. It can be prioritized. Its all fear mongering.



posted on Oct, 16 2013 @ 09:23 AM
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houselive.gov...

can watch the house debate live here

kinda pathetic i think that right now some republican is talking about Obamacare again saying that one of his constituents will lose money and could go bust causing the lost of 85 jobs.

Kinda pathetic, its a utilitarian decision, 700,000 are not working right now because they cant make up their minds.



posted on Oct, 16 2013 @ 09:25 AM
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reply to post by Crakeur
 


This is how I am seeing it too ...


But another Republican, Rep. Steve King of Iowa, says GOP lawmakers intend to stand tough to save the country from what they consider to be out-of-control spending. And that midnight deadline to raise the nation's self-imposed borrowing limit? Not that big of a deal, he told CNN's "New Day."

"I don't actually believe it's a hard break tomorrow," King said. "It's a date they picked on the calendar."
Source



posted on Oct, 16 2013 @ 09:39 AM
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OtherSideOfTheCoin
houselive.gov...

can watch the house debate live here

kinda pathetic i think that right now some republican is talking about Obamacare again saying that one of his constituents will lose money and could go bust causing the lost of 85 jobs.

Kinda pathetic, its a utilitarian decision, 700,000 are not working right now because they cant make up their minds.


Heres the deal, the country is broke! 17 trillion in the hole and unfunded liabilities of 120 trillion!!!! This system of big government destroyed this nation. It took the spirit of self-reliance, liberty, charity, and castrated it.

How did this county become great? How did it grow so large so fast and become the beacon of wealth and prosperity? Government didn’t do that. the individual did.

This Economy will collapse and it’s going to be the equivalent of the collapse of the roman empire. it’s a mathematical certainty. The question is do you want to do it now, or 5 years from now. Then next question is, will Americans rebuild it to its constitutional glory of limited government, or will the nation fall into 1,000 years of darkness under a dictator?



posted on Oct, 16 2013 @ 09:39 AM
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reply to post by Crakeur
 


I was reading an article this morning saying that actually happened under Carter and while the damage was limited for the circumstances, damage did happen with many many 0's on the end?

The story detailed that under Carter, the Congress played this same game and ran it right to the breaking point for deadlines then, too. It explained that passing a deal in time wasn't enough, as they hadn't left enough time to carry through all the associated paperwork.

The law and economics are odd that way, eh? They don't care about intent or 'close enough'. They only care about done or not done. I'll scream loud enough to scare my dogs if we blow through the default deadline ....despite actually having a deal made...because they waited to long to inact the deal quickly enough to matter.



posted on Oct, 16 2013 @ 09:45 AM
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reply to post by Wrabbit2000
 


I would imagine the numbers in Carter's day weren't as staggering and dangerously large as they are today. Our nation has become a fresh out of college, new to the work force kid with student loans, credit card debt and too many expenses thanks to spending habits that are no longer backed by mom and dad's deeper pockets.

someone needs to sit this administration down and give them the "you're cut off" lecture.



posted on Oct, 16 2013 @ 09:48 AM
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I'l put my money on Goldman, he said they will probably miss the 17th deadline, but will be reached before the 31, that's the real important date, the 17th is more symbolic i guess.



posted on Oct, 16 2013 @ 09:49 AM
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Wrabbit2000
reply to post by Crakeur
 


I was reading an article this morning saying that actually happened under Carter and while the damage was limited for the circumstances, damage did happen with many many 0's on the end?

The story detailed that under Carter, the Congress played this same game and ran it right to the breaking point for deadlines then, too. It explained that passing a deal in time wasn't enough, as they hadn't left enough time to carry through all the associated paperwork.

The law and economics are odd that way, eh? They don't care about intent or 'close enough'. They only care about done or not done. I'll scream loud enough to scare my dogs if we blow through the default deadline ....despite actually having a deal made...because they waited to long to inact the deal quickly enough to matter.


I also read that Interest on the debt is not due until November 1st so i dont know why Obama picked the 17th of October. hes going to look like a fool when that date comes and goes and nothing happens. the GOP should be smart enough to know this.

theres only two reasons why there not calling his bluff.

1. there really dumb and dont really know when the next interest payment is. (whos voting for brain dead people)

2. there really just one party and its all a script.



posted on Oct, 16 2013 @ 09:52 AM
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reply to post by camaro68ss
 


I have in inkling that the two parties are one in the same also.



posted on Oct, 16 2013 @ 09:53 AM
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Senduko
I'l put my money on Goldman, he said they will probably miss the 17th deadline, but will be reached before the 31, that's the real important date, the 17th is more symbolic i guess.



the 17th is date at which the US Treasury will only have tax income to pay its bills and tax income alone is not enough.

At least thats what i have read I think.

Basically they can no longer issue any more bonds and only have tax to play with and that will not be enough to pay the bills when the start coming in.



posted on Oct, 16 2013 @ 09:53 AM
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They are already in recess. Pathetic. This is not a solution. It is a band aid for a head wound. The US government cannot be allowed to 'spend' any more money. Cuts. It needs to be cut to the core and no one is being heard that wants this. What a waste of effort and resources but it will make the TP look bad in the MSM so the sheeple can again vote for ALL of the idiots who were in on this to begin with.

Boehner is a ball less wimp...



posted on Oct, 16 2013 @ 09:55 AM
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reply to post by matafuchs
 





They are already in recess. Pathetic. This is not a solution


I know only hours to go before they hit the dead line

and they all go for a coffee....

.... just when the senate seem to have a deal all sorted out.
edit on 16-10-2013 by OtherSideOfTheCoin because: (no reason given)



posted on Oct, 16 2013 @ 09:55 AM
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Senduko
I'l put my money on Goldman, he said they will probably miss the 17th deadline, but will be reached before the 31, that's the real important date, the 17th is more symbolic i guess.



Another question i have is, whats up with the banker meeting Obama had 3 weeks ago. Did he give them an insite on his plans? Is he planning to take this county to the brink.



posted on Oct, 16 2013 @ 09:55 AM
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reply to post by camaro68ss
 


If I had to guess I would say that date was picked because of the roll-over about $120 billion of maturing securities on October 17.

If the government defaults it may cause the auction to fail and instead of holders rolling over their investments they may instead opt to cash out, of course that is a worst case scenario ...





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