Wednesday, October 16, 2013

Quick Guide to What’s in the Debt Deal

It is simply an extension of government as usual. WSJ reports:

Here’s a rundown of the major pieces of the bipartisan deal reached in the Senate, which is expected to be passed by both the House and the Senate.
Debt Ceiling: Legislation permits the Treasury to borrow normally through Feb. 7, and preserves Treasury’s emergency flexibility to avoid default for a period of time after that date.
Shutdown: Deal funds the government through Jan. 15. Government workers will go back to work, and will get back pay.
Budget: Deal directs House and Senate negotiators to try to reach a budget agreement by mid-December.
Obamacare: No major alterations to the 2010 health-care law known as Obamacare; one minor change sought by Republicans will set new procedures to verify the incomes of some people receiving government subsidies for health-insurance costs. Deal does not cut government health-insurance benefits for congressional and administration officials, or their staff.
Sequester: Senate deal doesn’t include a provision granting federal agencies more flexibility to mitigate the effects of the across-the-board reductions known as the sequester; congressional aides said the next round of cuts kick in when the stopgap spending measure ends in mid-January, giving negotiators more motivation to reach a deal.


  1. I'd like to know specifically what that minor change is that the Republicans are seeking regarding income verification. That is extremely important to those concerned with financial privacy and privacy in general. How was the verification process (or how is it now), and what is the new method sought? We really need to know in order to protect our interests - we can be assured that the medical system will not.

  2. Republicans got crushed. Obama got everything he wanted.

    1. Wrong again. Taxpayers got crushed, tax eaters got everything they wanted. Did anyone expect otherwise?

  3. 1. The sequester was not across the board. Just the facts please, Ma'am.
    2. Keep an eye on that emergency flexibility. That could grow into significant executive power.

  4. "...permits the Treasury to borrow normally..." To a money sucking vampire, what is "normal"?

  5. And soooo. Anyone surprised by this outcome? Anyone??? Anyone think that this was not decided behind closed doors before it even began? Anyone??? Come on now, don't be shy...

    OK then.

    We all get that this was a charade, instigated by flim flam men to try to convince us they are actually DOING something. A dog and pony show - the modern equivalent of feeding Christians to the lions to keep the crowd amused.

    The take away is that the system is collapsing. There is nothing anyone can do to prevent it. All that that can be done is to delay the inevitable for a bit longer, but by delaying it, they only make it worse.

    The time is rapidly approaching when the grownups will have to step in and send the children to their rooms. [You know, the cosy accommodations with bars on the windows and matching jumpsuits for all.]

    No wonder they're so scared...