FEARMONGER FRIDAY: Obama Administration Will Announce Which Bills Will Be Paid, Which Not, After Markets Close on Friday

Get Ready for Fearmonger Friday–

If there is no clear path out of this morass by tomorrow, sources say that administration officials will likely brief the public on how the Treasury Department will try to handle the bills Congress mandates that the government pay given a situation where Congress has not given them a way to do so.

Look for that briefing to come no earlier than Friday after the markets close at 4 p.m. ET, sources say.

Officials are most concerned about paying the interest on the existing debt, since failure to do so would result in default and almost certain immediate market panic, as well as questions about how Treasury would be able to roll over a pre-existing $87 billion in debt that comes due next week.

After that — a list of priorities, not all of which that can be met. Social Security checks? Medicare? Government workers? Pentagon contractors? Troops’ salaries? The FBI?

Vice President Joe Biden and Senate Minority Leader Mitch McConnell have been talking privately about a possible way forward should Boehner’s bill fail in the Senate, which seems likely, according to sources familiar with the talks.

Any path forward if the House GOP bill fails in the Senate would likely be some compromise between the House Speaker John Boehner’s bill that would raise the debt ceiling for six months and Senate Majority Leader Harry Reid’s, which would raise it through the beginning of 2013. Their two proposals each seem doomed to fail in the other’s chamber.

#1 July 28, 2011 at 5:51 pm
ar05075 commented:

Three card Monte
#2 July 28, 2011 at 5:53 pm
Rob De Witt commented:

A bully and a thief, just about the worst combination imaginable. My God, what a lowlife punk.
#4 July 28, 2011 at 5:56 pm
song of the south commented:

Military,Social Security first.Wonder if our GREAT Reps and Senators paychecks will be delayed?
#5 July 28, 2011 at 6:00 pm
Nano commented:

Have been watching the debate today and the Dems are still stuck on stupid and talking only the same talking points.

Clearly congress has decided they don’t need to be our representatives any more and they have sold their soul to lobbyists and other such things.

Thankfully we have a way to fix that.
#6 July 28, 2011 at 6:05 pm
donh commented:

I look forward to Obama putting on record his pecking order for purging payments…Old people and veterans who have paid dearly into the system will be the first ones shoved into the gas chamber. Not one penny held back from the pensions of retired federal workers, not one union furlough, not one stop payment on babby killing, no halt to lab research on the mating habits of worms, no defunding of homosexual grants to the arts, no halt of congressional pay or reduction in security details for politicians, no stop payment to illegal aliens, no halving of rations to food stamp recipients or unemployment checks. Just starve out the old people and veterans in hopes they will blame Republicans and Obama wins re-election out of the anger and chaos. Welcome to SLAVERY ! MASSA O gets his way or you don’t eat.
#7 July 28, 2011 at 6:08 pm
tommy mc donnell commented:

politicans paychecks should be the first thing not paid. speaking for myself i don’t want my taxes raised. raising taxes only means increased spending. this “crisis’ was the real purpose of the stimulus spending.
#8 July 28, 2011 at 6:08 pm
Gimme a Break commented:

I wonder if the Czars will get paid? (sarc)
#9 July 28, 2011 at 6:14 pm
moron commented:

Acorn, unions and congressmen paid 1st. Social security, police, fire and medicare last. AND it’s the fault of you far right wing extremists that are requesting a balanced budget.
#10 July 28, 2011 at 6:14 pm
Nano commented:

Waiting for the FED to ‘forgive’ the 1.7 trillion of our debt they hold to make this all moot.

Yeah and they testified before congress they would not monetize our debt but then they went ahead and did it.
#11 July 28, 2011 at 6:16 pm
B.O. Bama commented:

Welfare crackheads, union chiefs, and food stamp recipients first.
Everybody else register Democrat or… no check for you!
#12 July 28, 2011 at 6:18 pm
Finncrisp commented:

The only acceptable way to extend the next debt vote is to pass the House version, and then stop spending so that the ceiling is not reached until after Barry’s defeat in 2012. Everybody wins!
#13 July 28, 2011 at 6:23 pm
patman commented:

And the libs told us we were crazy to be concerned about healthcare death panels…

Hypocrisy at its best…
#14 July 28, 2011 at 6:32 pm
Conservative Ken commented:

“The One’ will use this opportunity punish as many American’s as possible. He will make the most of his Cloward and Piven moment.
#15 July 28, 2011 at 6:33 pm
Rich commented:

I hope part of the bill is to use the pay of all the congress,senate,and administration to pay on our bills. Seems to be a waste where its going now.
#16 July 28, 2011 at 6:35 pm
Blacque Jacques Shellacque commented:

Officials are most concerned about paying the interest on the existing debt, since failure to do so would result in default and almost certain immediate market panic, as…

So, if these idiots are concerned about paying interest on existing debt, why do they seem to have no problems with adding on even more debt?
#18 July 28, 2011 at 6:48 pm
gus commented:

Bring it. Let Obama default. The sky will not fall. We are fuqued folks. It IS the WITCHING HOUR.
If we fold, we lose 2012. If we lose 2012, we lose AMERICA as our parents and grandparents knew her.
#19 July 28, 2011 at 7:02 pm
Speaker Clearly commented:

The GOP should hold a press conference, and clearly show the American people, that there IS enough money to cover all the checks.

If the GOP would clearly show America that we can pay are bill without a debt limit increase, this would take the wind out of Obama’s fear mongering.

The Democrats believe that most Americans are too STUPID to figure out the Democrats are lying about bounced checks.

If Obama intentionally bounces checks, the Democrats will proclaim to America:

“The Republicans wouldn’t allow us enough money to send Grandma her check”

The GOP needs to grow a spine, and call their bluff, and hold a press conference damnit! And show the American people the truth!

America is tired of being governed based on the politics of fear.

Have faith and give us the truth.
#20 July 28, 2011 at 7:06 pm
Redwine commented:

If Boehner’s plan – actually, the Boehner-Reid plan – goes through, it will be a recipe for disaster. Mere pennies in future cuts, which will never happen, no caps on spending, no balanced budget and Comrade Dear Leader gets to play immediately with $1T of our money. He will announce “Who shall live and who shall die.” Then, his lavish birthday bash on our dime will commence – and he and his henchmen will laugh and celebrate the economic slavery of We the People.

CCB or bust!! Stand firm, Conservative House stalwarts! Stand firm!

Boehner needs to be removed and replaced with Paul Ryan!
#21 July 28, 2011 at 7:08 pm
Carbon Pootprint commented:

Oh great the a-hole is going to be on TV again in one of His I love Lucifer reruns and of course blaming Tea and Crackers.
#22 July 28, 2011 at 7:09 pm
jainphx commented:

Blacque Jacque====100% right. Can’t pay our bills now, so lets borrow 2.5 trillion more. Makes no sense what so ever. Here I must say that Boehner is part of the problem.
#23 July 28, 2011 at 7:11 pm
Speaker Clearly commented:

$6 Don H:

Great Post.

This is EXACTLY what the GOP needs to clearly show the American people.

The GOP should hold a press conference…I’m sure they will get plenty of coverage in this media frenzy today….and show there IS enough money to cover the checks…

….and that if Obama chooses to intentionally NOT pay certain checks….IT IS OBAMA PLAYING POLITICS.

What are you waiting for GOP?????? This is so simple.
#24 July 28, 2011 at 7:17 pm
jainphx commented:

How is it that almost all politically savvy see all the traps and tricks that has been cooked up by the leaders of both parties, and Boehner either doesn’t see them or he’s complicit, either way he must be removed. This is exactly what the tea party people see, this is exactly why the powers that be are trying to destroy Palin and Bachmann, two women who see and are fighting, they need our help, we must take the deep seated power brokers out of power and fast. This may be our last chance!!
#25 July 28, 2011 at 7:23 pm
Francesca commented:

Why is it that in general, these Republicans have no guts? Telling the unvarnished truth just might work. Why not try it? They are creating such a web that nothing makes any sense. Just lay out the facts in simple, declarative sentences. What’s to lose?
#26 July 28, 2011 at 7:26 pm
Speaker Clearly commented:

As far as the Stock Market goes:

If the Market Drops more, in the case of no deal….

….it can always come back up when the dust settles…and when the truth about Obama playing politics with peoples checks are revealed.

So are we supposed to keep feeding the Debt Beast and Stock Market Beast, based on fear, and our insatiable appitite for spending????

I’m sorry, but the Stock Market crash of 2008 did not usher in the End of The World.

OReilly is afraid of his stock holdings losing money, and is pushing for a debt increase deal, no matter how far the goal post is moved.

They keep moving the goal post, even at this late hour. I guess we knew this would happen.
#27 July 28, 2011 at 7:31 pm
Speaker Clearly commented:

So in 2008, the Stock Market Crashed….and the USA was tricked into spending more money to “FIX” our problems….and how did that work out for us?????

Now they are using the fear of a Stock Market Crash to justify passing a deal, no matter how far the goal post is moved.

OReilly is still blaming the Tea Party if no debt limit deal is passed.

Madness.

I was at one point willing to agree to the original Beohner Plan that was a short-term, limited fix, that didn’t give Obama a blank check until after the elections….

….but now…they keep moving the goal post at the late hour.

I don’t think Obama will agree to anything short of an extended debt increase, that extends past the elections, to benefit him politically.
#28 July 28, 2011 at 7:32 pm
serfer62 commented:

The Won doesn’t get to decide…that’s the job of the House. They instruct TOTUS the priority of payments. So if OBamer wants to do it, I say go for it. The election is 16 months away, time enough to anger to dissapate, reality of who gets the blame and then revenge…
#29 July 28, 2011 at 7:37 pm
Speaking Clearly commented:

Oops…I spelled my screen name wrong in the above posts…Haha.

“Speaker Clearly” …sounds like a name for a cough drop.
#30 July 28, 2011 at 7:38 pm
Ken Moore commented:

See July 13th Washington Post: Estimated cash receipts for the month of August $172.4 billion. Interest due on treasuries for August: $29.0 billion. Once that is paid, there is no default.
The link includes a do-it-yourself balance-the-budget tool with lots of juicy detail.
http://www.washingtonpost.com/wp-srv/special/politics/federal-debt-limit-you-choose-who-gets-paid/?hpid=z2
#33 July 28, 2011 at 8:41 pm
Redwine commented:

#29 July 28, 2011 at 7:37 pm
Speaking Clearly commented:

Oops…I spelled my screen name wrong in the above posts…Haha.

“Speaker Clearly” …sounds like a name for a cough drop.
______________
lolol
Actually, “Speaker… Clear Out!!” sounds good to me!
#34 July 28, 2011 at 8:44 pm
Rose commented:

There are lavish and extravagant, arrogant, antiConstitutional Depts and Agencies that NEED to be closed, the money isn’t there for this lavish govt of Marxist UnConstitutionality – and therefore I oppose all debt ceiling hikes in view of the total refusal of BOTH parties to slash spending.

They are like, a shopaholic wife saying, ok, I’ll cut my Belt budget in half, but leave me alone about spending.

Get rid of Obama Care, Stimulus, govt purchases of property, real estate, make them divest of millions of acres of real estate NOT to rich, already highly-propertied friends – divest to the American people. close the Flight 93 Memorial project. Dismantle the Interior Dept and EPA. Dismantle NEA/PBS/NPR without giving the properties to their friends to reward them for taking it over – dismantle and SELL, including the licenses – no free gifts.
Slash Foreign Aid, slash salaries – not just SALARY INCREASES – slash the salaries. Dismantle Govt employee unions, SEIU, ACORN, lobbying payments, taxpayer funding for legal expenses for lobbiers lawsuits against the govt. Slash OSHA. Slash out the lawsuits designed to push American Citizens to Marxist policies that American Voters never voted to support.
Like the lawsuit won by the muslim lady who wanted work in a posh dress shop while wearing traditional muslim garb – Frivolous – throw it out, and make her pay restitution to the shop for ALL their legal expenses. Without taxpayer funding for her expenses!
Outlaw those kinds of lawsuits and put the lawyers on trial, jerk their licenses, and try the plaintiffs of such cases for Felony harrassment.

Slash the regulations.
#35 July 28, 2011 at 9:25 pm
tommy mc donnell commented:

the republicans aren’t spineless or clueless or gutless, they want the same thing the democrats want, unmitigated power. this fight is between the american people and the american politican both democrat and republican.
#36 July 28, 2011 at 9:54 pm
USMC Thomas commented:

SØBama’s treatment of the citizens of this country is like that of a third world dictator emulating castro or chavez.
#38 July 28, 2011 at 10:54 pm
jony101 commented:

maybe we can get bailed out like Greece? that’s the only way. If left to our own, we will always spend more money, time for tough love fix.
#39 July 28, 2011 at 11:18 pm
don abernathy commented:

http://www.youtube.com/watch?v=pIgwN37w660

roflmao
#40 July 28, 2011 at 11:32 pm
kato commented:

Memo to the parasites: Don’t worry. Your Obama Money will still keep coming. Relax, have another bastard or two, and maybe treat yourself to another Coach bag or a tattoo.
#44 July 29, 2011 at 9:10 am
Densie commented:

Speaker Clearly, I agree with you about someone standing up and showing the nation that what the Dems. say isn’t true. What the heck are they waiting for? Even the other night with Boehner’s rebuttal, he didn’t mention that there is enough money after BHO has said over and over that SS might not be paid out. Paul Ryan had charts earlier. Where are they now? Someone should just start talking to the press. For God’s sake and America’s sake, get your act together Republicans.
#45 July 29, 2011 at 9:50 am
Jerry C commented:

@ #21 Carbon Pootprint-”…I love Lucifer reruns…”

Dangit. I should have come up with that one. Very well done!
#46 July 29, 2011 at 10:58 am
bg commented:

++

flaSSback:

Democrats Applauding Their Own Obstructionism

albeit far from perfect, God Bless Bush, i know he tried to do his best
for “we the people”.. he was like a lone Salmon swimming upstream
against a tide of hungry bears.. as the powers that be, including his
own, were most certainly, not to mention obviously, not in his favor..

==
#47 July 29, 2011 at 10:59 am
bg commented:

++

oops re: #46

flaSSback: = flaSShback

==
#48 July 29, 2011 at 11:41 am
bg commented:

++

donh #6

don’t forget his Czars and Muslim Outreach
Programs, oh yeallah, that’s the ticket!! /s/

President to Renew Muslim Outreach 5/11

["It's an interesting coincidence of timing - that he is killed at the same
time that you have a model emerging in the region of change that is
completely the opposite of bin Laden's model," Ben Rhodes, deputy
national security adviser at the White House, said in an interview.]

well duh, isn’t that what EVERYONE BUT
GWB said WOULD NOT happen?? gah!!

DOMINO’S ANYONE?? OBAMA?? BIDEN?? BEULLER??

[btw, much more @ links, ie: 85/95,
hope you peruse the entire thread]

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#49 July 29, 2011 at 11:54 am
bg commented:

++

re: #40 flashback to January 06, 2011 link:

Media Give Obama a Pass on Debt Ceiling Hypocrisy

[Prez Obama has taken an admirable stand for fiscal austerity, and
blasted attempts to yet again raise the debt ceiling, which currently
stands at $14.3 trillion (with a T) – or roughly the GDP of the United
States. Said the president:

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. … Increasing America’s debt weakens us domestically and
internationally. Leadership means that “the buck stops here.” Instead,
Washington is shifting the burden of bad choices today onto the backs
of our children and grandchildren. America has a debt problem and a
failure of leadership. Americans deserve better.

i altered the spelling re: President, but please, do read on..

==