Motley Moose – Archive

The NBC/WSJ post-shutdown poll released yesterday set the blogosphere abuzz. It turns out that a reckless disregard for the well being of those who depend on the federal government, coupled with a casual connection with reality about how the financial markets work, does not instill confidence in your party or your party’s leaders. Who could have anticipated that?

Science challenged House Republicans forget about “gravity”

Oh, just about everyone … in the reality-based world!

BREAKING NEWS Thursday, October 10, 2013 10:36 AM EDT

House Republicans Discuss Plan for Short-Term Increase in Debt Ceiling

House Republicans gathered Thursday morning to discuss a plan to lift the government’s statutory borrowing limit temporarily to allow for negotiations on a package of deficit reduction and tax reform proposals that could lead to a reopening of the government and an end to the threat of government default.

House Republican leaders jumped on the plan, presented on Wednesday by Representative Paul D. Ryan of Wisconsin, chairman of the House Budget Committee. Meantime, a group of Republican senators has begun meeting with Senator Mitch McConnell of Kentucky, the Republican leader, to find a bipartisan solution to the twin fiscal impasses.

The senators are examining a year-long resolution funding the government at levels that reflect automatic spending cuts known as sequestration, but with added flexibility to help government agencies and departments deal with the tight budgets. The debt ceiling would also be raised.

READ MORE http://www.nytimes.com/2013/10/11/us/politics/debt-limit-debate.html?emc=edit_na_20131010

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Reuters: Obama picks Yellen for top Fed job, urges quick Senate approval

President Barack Obama nominated Federal Reserve Vice Chair Janet Yellen on Wednesday to run the world’s most influential central bank and urged the Senate to confirm her without delay.

Yellen, an advocate for aggressive action to stimulate U.S. economic growth through low interest rates and large-scale bond purchases, would replace Fed Chairman Ben Bernanke, whose second term ends on January 31.

The nomination will put Yellen on course to be the first woman to lead the institution and the first to head a central bank in any Group of Seven industrial nation.

President Obama held a press conference today where he discussed the shutdown and the impasse over the debt ceiling.

The President:

This morning I had a chance to speak with Speaker Boehner. And I told him what I’ve been saying publicly, that I am happy to talk with him and other Republicans about anything — not just issues I think are important but also issues that they think are important. But I also told him that having such a conversation, talks, negotiations shouldn’t require hanging the threats of a government shutdown or economic chaos over the heads of the American people.

Transcript of the president’s remarks follow.

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From the White House – Weekly Address

In this week’s address, President Obama said that Republicans in the House of Representatives chose to shut down the government over a health care law they don’t like. He urged the Congress to pass a budget that funds our government, with no partisan strings attached.  The President made clear he will work with anyone of either party on ways to grow this economy, create new jobs, and get our fiscal house in order for the long haul – but not under the shadow of these threats to our economy.

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