Yesterday House Speaker Paul Ryan pushed through a Puerto Rico Rescue bill called PROMESA.  The details of the bill are fundamentally challenging to understand in scope, however, the key aspect to remember is the underlying benefactor(s) – Wall Street.
While Ryan is severely adverse to PROMESA being called a bailout, that’s exactly what it is – only worse.  The plan structurally changes the dynamics of how State debt is repaid, and the considerations for bondholders under the 5th amendment (seizure of private property w/out compensation); which will lead to a guaranteed bondholder bailout.
However, beyond the ‘bailout’ aspect there is a framework to override state legislative authority and use unelected “control board” appointed by congress to subvert citizen voices and make independent decisions.

As you read this press release from David Brat consider the how such legislative usurpation could possibly be considered “conservative“.

DAVID BRAT:  Yesterday members of Congress voted in favor of PROMESA, a bill that imposes a control board on Puerto Rico. I opposed this bill, and in an op-ed in the Washington Examiner, I explained why.

“The PROMESA Act creates an unelected, unaccountable ‘control board’ imposed by Congress to manage Puerto Rico’s spending and tax policies for at least five years. Control boards and five-year plans, channeling Stalin: what could go wrong?

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Remember who:

• ….passed Trade Promotion Authority
• ….funded DAPA
• ….passed the Iran Deal.
• ….passed the Corker/Cardin amendment
• ….didn’t bother with a budget
• ….passed a $2+ trillion Omnibus spending package

Rat Fink Paul ‘Omnibus’ Ryan quickly scampers out of view after strategically timing the Puerto Rico Rescue bill to occur on a heavy news days containing White House endorsement and presidential election politics. (more…)

Please insert a big fat TOLDYASO right here.

Speaker of the House Paul Ryan is lashing out at opponents to his Puerto Rico bailout bill demanding they stop calling it a “bailout”.  Instead Ryan demands his opposition use the gaslighting term “restructuring”.
Hogwash.

A bailout by any other name is still a bailout.  A taxpayer funded restructuring of debt is still a bailout.  Puerto Rico brought this upon themselves.  Let them go insolvent and be forced to sell off their assets (ie. land, etc.) to pay back the bondholders.
Ryan’s position contends that if the U.S. government does nothing, then eventually the U.S. government will be forced to purchase all the debt and bail out Puerto Rico (ie. Wall Street bondholders/investors) entirely.  More hogwash.
What’s really being done here is Speaker Ryan setting up precedent.  Ryan is establishing the very first federal intervention into unsustainable state debt bailout.   Effectively if this happens the entire system of U.S. republicanism collapses.  (more…)

If you have ever looked deeply into what created the financial pension crisis in Puerto Rico you’d have to admit the potential for a federal bailout is beyond absurd.  But that won’t stop the insufferable liberals from proposing such a possibility – and watch closely as House Speaker Paul Ryan begins to discuss the “outcome for the bond-holders”.
Former presidential candidate Marco Rubio already stated he was in favor of a bailout, albeit with conditions; and we know the Democrats will always look to gain political leverage through the advocacy of the fiscally stupid…. 

NEW YORK — Over a dozen activists descended on a building where Federal Reserve chair Janet Yellen and her three living predecessors were speaking on Thursday to demand that the Fed bail out Puerto Rico’s cash-strapped government.
The demonstrators, who are affiliated with the progressive Fed Up coalition, distributed Puerto Rican flags and empanadas as Puerto Rican music played outside Manhattan’s International House, a student residence. Yellen was there for an extremely rare panel discussion alongside past Fed chairs Ben Bernanke, Paul Volcker and Alan Greenspan, who participated via videostream. (more…)

On Friday March 25th Mark Levin finally dropped his crony-constitutional shtick and admitted he preferred to see the U.S. brought to it’s knees.  In a very revealing two hour broadcast he railed against trade “tariffs” claiming they were in direct opposition to the needs of the Chinese, Asian and European economies.

He followed up by saying Mitch McConnell was using the National Republican Senatorial Committee to perpetrate fraud against America.  Quoting the example of Thad Cochran’s re-election bid, Levin went on to say how horrid the construct of the NRSC is.  Of course, in order to reconcile his current endorsement for Senator Ted Cruz, Levin has to skip the part where Cruz was Vice-Chair of the NRSC when the Cochran fraud was presented.
Funny how that works.
But Levin is not alone in his new found exposure aligning himself with Jeb Bush, Paul Ryan and Mitt Romney as they collectively campaign and endorse Senator Cruz.  Oh, how the globalist intents make for such brilliantly exposed bedfellows when the covers are pulled back. (more…)

2:00am, December 16th 2015, and yet another 2,000+ page bill emerges from the halls of congressional staff – this one an “Ominibus spending bill” with over $1.5 Trillion in expenditures, almost certain to add yet another thousand billion to the structural deficit.

Republicans control the House and the Senate.

Nothing good ever comes from congress at 2:00am.

Obama-Care came from the halls of the Senate at 1:36am on 12/23/09. More trillions, beyond trillions. The Democrats controlled the House and the Senate – we removed them.

For some insufferable reason it appears Speaker Paul Ryan and Majority Leader Mitch McConnell, the Republican leadership, think the U.S. electorate are unaware of the contents of this recent Omnibus spending. We’re not. (more…)

House Speaker Paul Ryan takes the place of House Speaker John Boehner – filling the GOPe role of Lucy with the football.   They swear this time they mean it; they promise, they swear, this time for real.  Promise….   #ColdAnger

“The end product here is just cleaning the barn, it’s a disaster,” [Dave] Brat said of the spending and tax deal. “We’re breaking our pledge on the budget caps to the American people, we’ve lost fiscal discipline and we’re throwing it all on the next generation.”

FULL ARTICLE

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Yes, it’s that time of year when the “Omnibus” spending kicks into overdrive.  Washington DC loves it when the electorate are distracted with the Holiday Festivities.

This year we taxpayers get yet another round of usurpation from the Progressive Republican GOPe critters, led now by Paul Ryan, who infect the spending body.

SPEAKER Ryan and his team of spending enthusiasts is getting ready to “bail out”, meaning give, the ObamaCare health insurance carriers an influx of EVEN MORE money:

WASHINGTON DC – […]  Negotiators are not close to a deal but are looking seriously at the framework discussed by Senate Finance Committee member Charles E. Schumer, D-N.Y., and House Speaker Paul Ryan, R-Wis., when the latter served as Ways and Means chair, tax lobbyists and House staffers said. The two lawmakers were unable to agree on the level of funding for highway programs, and negotiations stalled.

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It was September of 2007 when George W Bush sat behind his oval office desk and signed into law the Fiscal Year 2008 Federal Budget. Exactly eight years ago.
It has now been eight consecutive years without a federal budget. Eight consecutive years of debt ceiling increases, continuing resolutions to fund government, threats of shut-downs and the insufferable back-and-forth blame.

But this year is different. You see for this budgetary year (constructed in ’15 for fiscal year 2016) the Republicans hold significant majorities in both the House and the Senate. And for those of you who don’t pay as close attention to these things, the fiscal year starts on October 1st.

Yeah, exactly a week from now !

… and yet we have NO BUDGET. Why?
Well, the honest answer to that question is what scares the hell out of the Professional Republican party. We have no federal budget this year, because, just like the Democrat party, the GOP doesn’t want a federal budget. (more…)

Multiple layers of deceit, deception and manipulation lay within this story.  In addition, the fundamental principles of the Decepticons in the Senate surface with increased clarity.

The underlying issue is the Federal Surface Transportation Program commonly called “the Highway Bill”.  The Highway Bill is technically supposed to be a legislative tool to set priorities for the expenditure of tax revenue coming from federal gasoline taxes; roads, bridges, transportation systems – building and repairing as such.

However, as with all ‘revenue spending bills’, you find a bastardized special-interest process where more legislatures want spending on “their pet projects” than is available from the revenue raised within the tax collection.   Ergo immediately you can see the ingredients for corruption or what DC calls “sausage-making”.

Backroom deals, bribes, quid-pro-quo, lobbying schemes, booze – sex – blackmail and leverage, yep, back rubbing DC at it’s more traditional level.   Ultimately ending in more spending embedded in the authorizations than revenue raised by the taxes.  Yes, more, even more, deficit spending. (more…)