John Boehner

Maybe John Boehner does have the votes for a clean debt-ceiling bill—at least one that could give a whole new meaning to the term “Black Friday.”

House Republicans, looking for a way out of a budget standoff they began, will offer to President Obama at a White House meeting Thursday a plan to increase the debt limit through Nov. 22, in exchange for a promise to negotiate a deal for long-term deficit reduction and a tax overhaul.

The debt ceiling increase could come to a vote as soon as Friday, but House Republicans did not intend to reopen the government, hoping that the shuttering of federal programs would keep the pressure on Democrats to compromise….

The White House press secretary, Jay Carney, declined to say whether Mr. Obama would sign a short-term debt limit increase, as the president suggested he would earlier this week. “We’ll see what the House Republicans propose, we’ll see what they’re able to pass,” Mr. Carney said.

So, in all likelihood: Hooray! No history-making default this month! And just in time, because some people were starting to get nervous, not that you could tell that a potential economic Armageddon was on the horizon from looking at the markets. Read more »

Someone Capitol Hill has maybe, possibly come to his senses, and it’s House Speaker John Boehner, who upon careful reflection has apparently decided that Obamacare is not, in fact, worse than forcing the first-ever U.S. sovereign debt default. He feels so strongly about it, in fact, that he’ll even break the sacrosanct Hastert Rule, a doctrine that House Republicans rank between the Bible and the Constitution in importance, to avoid it.

One lawmaker, who spoke on the condition of anonymity, said Mr. Boehner had indicated he would be willing to violate the so-called Hastert Rule if necessary to pass a debt-limit increase. The informal rule refers to a policy of not bringing to the floor any measure that does not have a majority of Republican votes….

It is conceivable that Mr. Boehner could pass a debt-limit increase with a slim majority of Republican votes, and Democrats making up the difference, as he has in the past on budget measures. In meetings with Republican lawmakers, the speaker appeared to be offering reassurances to members worried about the government shutdown that he would not allow a default to take place.

Other Republicans also said Thursday that they got the sense that Mr. Boehner would do whatever was necessary to ensure that the country did not default on its debt.

So no U.S. default—but also, contrary to earlier indications, no jobs report tomorrow. (The Labor Department is working today, apparently, as is Challenger, Gray & Christmas, a firm I did not just make up.) Read more »

House Speaker John Boehner couldn’t hold back when he spotted Senate Majority Leader Harry Reid in the White House lobby last Friday. It was only a few days before the nation would go over the fiscal cliff, no bipartisan agreement was in sight, and Reid had just publicly accused Boehner of running a “dictatorship” in the House and caring more about holding onto his gavel than striking a deal. “Go f— yourself,” Boehner sniped as he pointed his finger at Reid, according to multiple sources present. Reid, a bit startled, replied: “What are you talking about?” Boehner repeated: “Go f— yourself.” The harsh exchange just a few steps from the Oval Office — which Boehner later bragged about to fellow Republicans — was only one episode in nearly two months of high-stakes negotiations laced with distrust, miscommunication, false starts and yelling matches as Washington struggled to ward off $500 billion in tax hikes and spending cuts.[Politico]

As you may have heard, the debt ceiling debates are not going so well. John Boehner has described dealing with the Democrats as not unlike “dealing with Jell-o” (“Some days it’s firmer than others. Sometimes it’s like they’ve left it out over night…last weekend it was damn near liquid”). Harry Reid has said Eric Cantor is acting “juvenile” and “shouldn’t even be at the table.” A resolution is nowhere in sight and some days it feels like Derek Jeter’s lucky ball is the only one taking this thing seriously. President Obama wants this thing wrapped up by tomorrow and if it doesn’t get done? He’s going to force Congressional leaders to spend the weekend at his vacation house in Maryland. Read more »

Boehner wants to be “talking about cuts of trillions, not just billions.” Read more »

House Speaker John Boehner’s appearance before Wall Street leaders tonight challenges him to provide reassurance that Congress will raise the U.S. debt limit without undercutting Republican demands for spending controls…”The stakes are high for Speaker Boehner,” Senator Chuck Schumer told reporters on a conference call today. He called on Boehner to provide “unwavering reassurance” to the credit markets that House Republicans won’t allow the U.S. to default on its obligations. “The markets do not want to hear more threats,” Schumer said. “The time for brinkmanship is over. There is a lot on the line.” [Bloomberg]

Earlier today we mentioned that House Minority Leader John Boehner had some advice for any bankers headed to Washington hoping to fight financial reform. His advice was simply this: “Don’t let those little punk staffers take advantage of you and stand up for yourselves.” The reaction from a certain Director of the White House’s National Economic Council? OH NO YOU DI’INT. Read more »