Post From KTFA By FrostyTheSnowman » July 5th, 2015, 10:33 pm •
"29 ... 46 ... HIKE!!! ... pass the ball to BackDoc ... and TOUCHDOWN!!!
You called it BackDoc! The media is finally starting to talk about the pesky little issue of FUNDING the US Gov't. before a shut-down. (wink, wink)
After July Fourth fireworks and parades, members of Congress return to work Tuesday facing a daunting summer workload and a pending deadline to fund the government or risk a shutdown in the fall.
The funding fight is shaping up as a major partisan brawl against the backdrop of an intensifying campaign season. Republicans are eager to avoid another Capitol Hill mess as they struggle to hang onto control of Congress and try to take back the White House next year.
Already they are deep into the blame game with Democrats over who would be responsible if a shutdown does happen. House Speaker John Boehner, R-Ohio, has denounced Democrats' "dangerously misguided strategy" while House Democratic leader Nancy Pelosi of California accuses Boehner and his Republicans of pursuing "manufactured crises."
The funding deadline does not even arrive until Sept. 30, but lawmakers face more immediate tests. Near the top of the list is renewing highway funding before the government loses authority July 31 to send much-needed transportation money to the states right in the middle of summer driving season.
The highway bill probably also will be the way lawmakers try to renew the disputed federal Export-Import Bank, which makes and underwrites loans to help foreign companies buy U.S. products. The bank's charter expired June 30 due to congressional inaction, a defeat for business and a victory for conservative activists who turned killing the obscure agency into an anti-government cause celebre.
Depending on the progress of the Obama administration's nuclear negotiations with Iran, lawmakers could also face debate on that issue. Leading Republicans have made clear that they are prepared to reject any deal the administration comes up with.
Sen. Tom Cotton, R-Ark., said Sunday that Iran "should have faced a simple choice: they dismantle their nuclear program entirely, or they face economic devastation and military destruction of their nuclear facilities."
"It was actually both the fact of sanctions in 2013 and the threat of even tighter sanctions that drove them to the negotiating table," Cotton, a member of the Armed Services Committee, said on ABC's "This Week."
"That's why we shouldn't have let up those sanctions," he added. "We should have insisted on the very simple terms that President Obama himself proposed at the outset of this process. Iran dismantles its nuclear program entirely and then they will get sanctions relief."
Sen. Ben Cardin of Maryland, senior Democrat on the Foreign Relations Committee, said any agreement with Tehran must be "comprehensive."
"It's got to prevent Iran from any steps towards producing a nuclear weapons," said Cardin, also appearing on ABC. "That means you have to have full inspections, you have to have inspections in the military sites. You have to be able to determine if they can use covert activities in order to try to develop a nuclear weapon."
Beyond the issue of Iran, the Senate opens its legislative session with consideration of a major bipartisan education overhaul bill that rewrites the much-maligned No Child Left Behind law by shifting responsibility from the federal government to the states for public school standards.
"We're seven years overdue" for a rewrite, said Sen. Lamar Alexander, R-Tenn, the bill's chief sponsor.
The House also is moving forward with its own, Republican-written education overhaul bill, revived after leadership had to pull it earlier this year when conservatives revolted.
Even if both bills pass, though, it's uncertain whether Congress will be able to agree on a combined version to send to President Barack Obama. Indeed the prospects for any major legislative accomplishments arriving on Obama's desk in the remainder of the year look slim, though there's talk of the Senate following the House and moving forward on cybersecurity legislation.
That means that even though Obama was so buoyed when Congress sent him a major trade bill last month that he declared "This is so much fun, we should do it again," he may not get his wish.
But all issues are likely to be overshadowed by the government funding fight and suspense over how -- or if -- a shutdown can be avoided.
Democrats are pledging to oppose the annual spending bills to fund government agencies unless Republicans sit down with them to negotiate higher spending levels for domestic agencies. Republicans, who want more spending for the military but not domestic agencies, have so far refused. If there's no resolution by Sept. 30, the government will enter a partial shutdown.
It's an outcome all involved say they want to avoid. Yet Democrats who watched Republicans pay a steep political price for forcing a partial shutdown over Obama's health care law in 2013 -- and come within hours of partially shutting down the Department of Homeland Security this year -- claim confidence they have the upper hand.
"Given that a Democratic president needs to sign anything and you need Democratic votes in both chambers, the writing is on the wall here," said Pelosi spokesman Drew Hammill.
Republicans insist Democrats are running a risk by opposing spending bills for priorities like troop funding -- but are not yet discussing how they will proceed if Democrats don't back down.
As a result it looks likely current funding levels could be temporarily extended beyond Sept. 30 to allow more time to negotiate a solution.
And it's not the only consequential deadline this fall. The government's borrowing limit will also need to be raised sometime before the end of the year, another issue that's ripe for brinkmanship. Some popular expiring tax breaks will also need to be extended, and the Federal Aviation Administration must be renewed. An industry-friendly FAA bill was delayed in the House recently although aides said that was unrelated to the Justice Department's newly disclosed investigation of airline pricing.
In the meantime, the presence of several presidential candidates in the Senate make action in that chamber unpredictable, Congress will be out for another recess during the month of August -- and in September Pope Francis will visit Capitol Hill for a first-ever papal address to Congress.
lexi » Question Frosty, do you think they will use the RV/ri for their pawn. In others words waiting till these deadlines to say do what we want then you get the new rate to fund it with?
lexi » I'm thinking yes?
mike100 » I want to congratulate Greece for their bravery to stand up to the corrupt bankers and the EU.. hoping this creates a snow ball effect with other countries, the slavery ends here. A new era is approaching. It is time.
ThunderHawk » Mike, AGREED :handshake1: ThunderHawk
Frank26 » Mike, U N B E L I E V A B L E !!!
Someone finally got it !!! Yes it is New ... Galactic. KTFA Frank
zerb » Battleship Galactica Franky Franky?
Knarf what was the highlight from A L O H A THIS FINE DAY ? Ok I think u just beat me to it! :rofl:
Why is sunset so early there this time of year? 7:17 pm? Go...7 's
Frank26 » July 6th, 2015, 1:50 am • [Post 74] Zerb, Sky Walker .......... LOL !!!
Highlight of today?.......... Hmmm .......... Praying with ANDY on the PRAYER CC.
Why so early? ............. Due to the Summer Solstice .......June Solstice has the Longest and Shortest Day of the Year. The June solstice is the Summer Solstice in the Northern Hemisphere and the Winter Solstice the Southern Hemisphere.
The date varies between June 20 and June 22. So for now .......... My day is longer than Yours. It's the gyro tilt of the earth in it's rotation. I think ........ :rofl: KTFA
sheila » If anyone could answer this I would appreciate it. In the process of the monetary reform for the United States will the America banks be effected like they are in Greece. If they are effected could someone explain how. sheila
Frank26 » Of course they will be affected ......... But at what degree? No one knows yet.
As a Power ....... iMO the UDS will not be stripped as much as the others involved with the IMF's roulette table at the moment. BTW ..... Greece is an easier solution than the UDS. KTFA
Frank26 » The Advisers Submit Proposals To Amend The Federal Oil And Gas Law To Be Completed Within Two Months
PREMIUM TEAM CHAT members .......... What are the TWO HOT issues with us right now from Thursday CC ? Ah?????????.......... M and ? Wink. KTFA Frank......... MONDAY CC tomorrow will flow into it.
aggiedad77 » Good Morning Frank and Family Since no one has made a move on this, I'll take a stab
It would appear M is one and Islamic Banking is the other.....which is believed to lead to the bonds that are coming If I'm off base, just happily ignore Aloha Randy
dustibigelow » M AND HCL???
Manaolana3 » BONDS AND CREDIT RATING.
Stranger » Quote: "HCL is hot because of the Islamic Banking Law" and "Private Sector is also hot along with the HCL" ( I wouldn't post this except Frank said it was ok to post from last Thursday's Team Chat)
aggiedad77 » Family just a quick note on some of the news we are already seeing for Monday......the Federal Court is announcing their stance on certain articles of the 2015 Budget.....as we suspected they are calling them unconstitutional....especially that of Article 50.....
we also are seeing that the Finance Committee is attempting to regroup.....what else to expect from them, their attitude is that of not liking to be told they were out of bounds in what they attempted....
maybe they will learn a lesson from all this....but then hard boled Maliki's, I mean eggs are sometimes difficult to break....LOL.
More to come later after I get a few errands accomplished this morning. Aloha Randy
powerofprayer » Backdoc, The recent Chinese Stock Market slump isn't that due to hackers attacking their vulnerable system? Just something I read somewhere.
rv9586rl » Question Anyone: Is there any chance that China could be come the Reserve Currency of the world, when the Global Currency Reset occurs?
They are buying lots of Gold. Thank you. Viola
Walkongstick Iraq to tap retail investors in $5 bln domestic bond offer
DUBAI, JULY 6 | BY HADEEL AL SAYEGH
aggiedad77 » Good Morning again Family, I am back from running errands and before I jump into the news summaries for today I wanted to "EXTRA" highlight something that WS has already pointed you to....and just make sure you see it and grasp the gooderness from it....at least in my opinion.....
all this talk about bonds....domestic and international....but first to be teed up looks like domestic bonds....to be denominated in USD....but payable upon maturity in what.....
your choice USD......OR.....IQD.....at what....at a rate more attractive or lucrative than the CURRENT MARKET RATE....sink your teeth in to a nice juicy tender steak there and enjoy.
I'm liking the sound of things to come. Thanks for bringing this WS and your time to highlight sir....you were missed. Aloha Randy