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What Will Change If/When Republicans Take The Senate?

November 3, 2014
11/2/2014
Source …..

McConnell-ThisMuchThe short answer, of course, is “nothing” – Congress, or the presidency, have been irrelevant ever since the Fed fully took over the US some time in late 2008. Since then, it has been the role of the central printer of the US, working on behalf of the US banking syndicate, to “get to work”, and cover up the fact that Congress, its make up, or its decisions, are now inconsequential. Still, there are those whose job is to overanalyze everything, and those, whose ideological persuasion, is to believe that what there is a difference between the “left” and the “right.”

One such place is The Hill, which writes that “the midterm-election horserace is into its final furlong — and that means most of the attention of the political world is focused, understandably, on who’s up and who’s down; who will win and who will lose. But if Republicans succeed in their quest to secure a Senate majority on Tuesday, what will really change on Capitol Hill? The answer is “plenty” – both in terms of policy and politics.”

We’ll agree to disagree, but since someone has to pay attention to the proceedings in the most farcical and polarized, if only for public consumption purposes, Congress in history may as well present what The Hill thinks will happen.

Here are the five areas to watch according to The Hill.

1. Will President Obama’s big achievements be hollowed out?

Republicans say that if they gain control of Congress they will start chipping away at two of the Obama administration’s biggest victories: financial reform and healthcare.

The GOP could well decide against attempting another full repeal of the Affordable Care Act. But its members would probably try to eliminate the much-discussed medical device tax. They might also look at nixing the employer mandate.

The Dodd-Frank financial law is high on the hitlist of GOP lawmakers. They want to ease capital requirements for large insurance companies, create both a board of directors and a new inspector-general position for the Consumer Financial Protection Bureau, and streamline a process for banks deemed too big to fail.

More generally, Republicans have made it clear that Obama’s regulatory agenda is a prime target.

With control over the budget and appropriations process, Republicans could cut off funding that is needed to implement or enforce regulations — including the EPA’s carbon-pollution standards for power plants, which form a big piece of the president’s climate agenda.

The GOP will also probably ramp up efforts to push through the Keystone XL pipeline and expand natural-gas exports.

2. Senate confirmations: The battlefield tilts

A GOP-controlled Senate will make it even tougher for Obama to confirm nominees, a process that hasn’t exactly been plain sailing even with Democrats in charge.

Although Supreme Court Justice Ruth Bader Ginsburg has said she is staying put, it remains plausible that Obama could be faced with a third chance to put his stamp on the court. Republicans would find it much easier to block his choice if they held the majority in the Senate.

Obama will also nominate a replacement for retiring Attorney General Eric Holder, and the confirmation process will likely be fraught whomever he chooses.

Obama also isn’t like to face any shortage of executive branch, ambassador and federal judicial nominations in his final two years in office. They will all need Senate confirmation.

3. Obama to stock up on veto pens

Obama has had to pick up his veto pen on just two occasions since he took office in 2009, largely because Democrats have controlled at least one chamber of Congress throughout that time.

He will need to check he has a plentiful supply of ink if Republicans take the Senate majority. He can expect to spend his final two years using his veto to protect earlier legislative victories, rather than seriously attempting to rack up new ones.

There is some chance of bipartisan progress on issue such as immigration reform and global trade deals. But it also seems likely that Obama will need to rely on executive action if he wants to pursue many of his priorities.

4. More Benghazi, more anti-ISIS action

If Republicans take over the Senate, Sen. John McCain (R-Ariz.) will take the gavel at the Armed Services Committee. He is almost certain to turn the spotlight back onto the Obama administration’s missteps in Benghazi — especially the ones that Republicans say were committed by Hillary Clinton, who was secretary of State at the time.

Congressional Republican make little secret of the fact that they believe the controversy could hurt Clinton’s chances of winning the White House in 2016. Senate control would ensure they could keep it high up on the news agenda.

Republicans also are likely to push for a more aggressive U.S. response to the militants of the Islamic State in Iraq and Syria, or ISIS. They have long argued that the Obama administration isn’t being aggressive enough in that fight.

While their push probably won’t come in the form of asking for more U.S. troops in Iraq and Syria, Republicans insist that the United States ought to do more to quell terrorist threats in the region.

Republicans are faced also with a slew of expiring bills but none more important to national security than an NSA surveillance reauthorization.

It will be up to the GOP to push a bill across the finish line, just as 2016 presidential contenders ramp up their campaigns. Many national security experts have argued that letting the current law expire would be disastrous.

5. 2016: The future starts now

Whoever wins and loses on Tuesday night, much of the political world will turn its focus to 2016 as soon as dawn breaks on Wednesday.

If the GOP controls both chambers in the new Congress, its leaders will take every step over the following two years with an acute appreciation of how their moves might affect the 2016 race for the White House.

They will have to walk a fine line: They will want to make Democrats take tough votes while also helping those within their own ranks who might seek the Oval Office. GOP Sens. Rand Paul (Ky.), Ted Cruz (Texas), Marco Rubio (Fla.) and Rob Portman (Ohio) have all had their names bandied about as 2016 hopefuls.

There will also be the concerns of those senators seeking reelection in 2016 to consider. Some centrist Republicans may seek to forge new relationships with Democrats in order to advance legislation they deem important to their reelection hopes.

* * *

And while we appreciate The Hill’s enthusiasm, we are far more interested in the take of the one company that in most people’s opinions, comes closest to actually running not only the Fed, but the US itself: Goldman Sachs. Here is what 4 of Goldman’s strategists and analysts think will happen after Tuesday’s takeover of the Senate by the GOP.

Alec Phillips, GS US political economist

“A Republican Senate majority would likely lead to an incremental uptick in legislative activity and increased risk around fiscal deadlines.”

Aleksandar Timcenko, GS strategist

“Since 1950, S&P 500 performance following midterm elections has averaged 17% – substantially better than average returns of 9% per year.”

Matthew Borsch, GS US healthcare analyst

“Gridlock or compromise on healthcare policy is possible should Republicans win the Senate, with the former better for hospitals and provider firms and the latter for managed care and medical devices.”

Noah Poponak, GS US defense analyst

“Neither outcome for the Senate makes a particular defense spending trajectory more likely, but sequestration puts a floor under downside risk for the sector.””

* * *

Oddly enough, virtually nobody, when asked what would change if party X takes over party Y in the [House|Senate|Presidency], has replied “nothing.” Which is precisely why it is the right answer.

4 Comments leave one →
  1. Paul H. Lemmen permalink
    November 4, 2014 8:53 pm

    Reblogged this on A Conservative Christian Man.

  2. November 4, 2014 7:15 pm

    Reblogged this on SilentSoldier.

  3. November 3, 2014 1:23 pm

    Congress needs to avoid wasting any time. If Obama is going to veto any and every counter to his presumed legislation then Congress needs to do the following
    1/ Denounce and void all the Executive Orders as not Congressional Legislation, going back to Hoover and FDR
    2/ Denounce and put an injunction on all regulations that have not been approved by Congressional oversight
    3/ Provide a Congressional approval of the 1st and 2nd Amendments and remove any and all PCs that create adversity
    4/ Unblock all the records of Obama’s travel and University degrees, transcripts theses, go through the fake Birth Certificates, SS and Selective Service and who concocted these, etc. to find out who he really works for.
    5/ Go to the Supreme Court to require it to rule on the requirement for 2 American Citizens born at the time of the birth of the President, with the mother at least 5 years in residence in the US, as was the case with Garfield
    6/ Impeach Obama, Nancy Pelosi and Harry Reed for attempting to usurp the Presidency with someone not a Natural Born Citizen, considering that Hawaii did not recognize his birth.
    7/ Sorry Senators, but Congress should put in motion a repeal of the 17th Amendment
    8/ Congress should put in motion a take over by the Private Sector of the SS System and Medicare Trust and turn over the Fed to the US Treasury, then
    9/ void all the Treasury deficit in all Government agencies as well as the Fed, as having no intrinsic value (no inherent underlying collateral or cash flows as Mini’s), thus requiring them to be paid for with taxes to be released. Thus, simply voiding them removes that tax and interest rate burden. The result will be to eliminate 2/3 of the National debt and probably 1/2 the unfunded liabilities. Thereafter the Private sector insurers and pension fund managers will invest only in projects that have collateral and cash flow.
    10/ As the November 9, 2007 FASB 157 and April 2010 FASB157e were probably by EO of Bush, then Obama, these need to be voided and FASB115 reinstated returning the regulatory basis for the private sector to access credit, thereby voiding the Corporatism (Naziism) of the Bush/Obama era.
    11/ Eliminate all regulations designed to be purely punitive on business and freedom restricting on the general public. (engage Gingrich)

    Once Obama et al are out, then

    12/ vote out Dodd Frank, Obamacare and FATCA and all related Acts not automatically eliminated with the removal Obama as an usurper.
    13/ Lower corporate taxes to 10% including repatriation of foreign held profits
    14/ Lower all private person’s taxes above 50,000 to 10%, tripling the overseas minimum income before tax allowance to $300,000
    15/ institute a VAT of 10% (engage Cain)
    16/ eliminate the inheritance, gift taxes and capital gains taxes (engage Forbes)
    17/ legalize / decriminalize marijuana and other drugs and free everyone in jail for use and distribution.
    18/ License and institute excise taxes on alcohol, cigarettes and cigars, marijuana and other drugs
    19/ provide tax credits to care givers that treat drug related illnesses
    20/ eliminate all other federal excise taxes, except those on alcohol, cigarettes and cigars, marijuana and other drugs,
    21/ Sunset immediately numerous government agencies, such as the NEA, allowing for school vouchers (engage Gingrich). Provide tax credit to charities that sponsor higher quality education of tearchers
    22/ eliminate all subsidies grants and loans to businesses and schools, colleges and Universities, to remove government’s influence on what’s taught. (engage Gingrich)
    22/ Provide tax credits to companies and individuals that donate to schools or individual’s educations (engage Gingrich)
    23/ Remove all Obamacore and all Federal influences over the content of education, leaving it to the States alone. (engage DeMitt)
    24/ release all but 1 million of the key Federal employees and related private sector contractors (estimated at 14.6 million), not including the Military, putting them on temporary Unemployment Security based on comparable private sector wages and food stamps, including a temporary housing subsidy.
    25/ Increase Military wages across the board by 50%
    26/ Increase US Military access to education and insured housing
    27/ Increase the VA budget to upgrade to world class facilities and operations and medical systems
    28/ Upgrade and modernize the military at every level
    29/ Remove the lobbying influence of the Pharmas on the FDA and open up natural health solutions
    30/ Outlaw entirely all GMO seeds and crops and pesticides
    31/ Put up for sale all unoccupied government buildings.
    32/ Return the land confiscated by the Federal government to the States
    33/ Institute a total nation infrastructure upgrade through public private partnerships, using printed monies, where every upgrade is paid for and administered by private sector firms both for the construction and collections of tolls and administrative fees. Such debt will become like municipal bonds backed by assets and cash flows as collateral, where the intention is that the debt will be covered by collateral, cash flows and corporate assuming of the government’s debt, thereby releasing initially printed cash back to the Treasury for new PPP projects as needed. (engage Tim Putman and Romney et al)
    34/ Replace over time all remaining treasury deficit not voided with such national debt bonds.
    35/ Remove the total hypothecation of America’s wealth by the Federal government.
    36/ Allow for all kinds of clean energy and clean water solutions, including nuclear, coal gasification, natural gas and other energy solutions.
    37/ Turn failing cities, such as Detroit and Chicago into Federal and State Enterprise zones, i.e., no taxes whatsoever with the private sector establishing all the necessary infrastructure based on debt provided from the Federal government (engage Romney et al)
    38/ Note: The Treasury will supply debt to the market at a level required to keep the money supply and interest rates stable as the deficit is retired. (Engage Glenn Yago)
    39/ defund and void HLS and eliminate the Patriot Act
    40/ Void the Bush/Obama government grants, loans and subsidies of charities, churches, etc
    41/ Remove of all foreign influence from Federal, State and local governments and schools
    42/ Remove Obama restrictions on Christian schools and businesses
    43/ Require that every level of school teaches traditional American History of the Founding Fathers, as well as all Religions. Eliminate social indoctrination in schools for increases in education quality in math, physics, chemistry, biology, literature, arts, humanities,
    44/ Disallow sex education in schools. Parents can sign their kids up to sex education per their choice outside of the school.
    45/ Defund government support for life termination, but provide tax credit to charities that want to fund such termination if life threatening to the Mother or child, with an orientation that babies come to term and get adopted if the family doesn’t want the child.
    46/ Increase technology and waste to energy solutions
    47/ Re Government: Restrict the President to 2 terms, Senators 2 terms as part of the repeal of the 17th Amendment, Congressmen to 4 terms, reducing the pensions to max 75%
    48/ re government: Senators and Congressman and their staff must abide by the laws passed to the Private sector businesses and citizens.
    49/ Re illegals: They should be given an amnesty, as it’s not their fault that they were used by an usurping President for his political gain. However, to get a green card and citizenship they must become fluent in English and American History and pledge allegiance to the Flag. All subversives and criminals will have to be deported to their country of origin. The Boarder will have to be sealed, allowing, however, for migrant workers.
    50/ Re the EU, the US must exert its influence to end IAS39 imposed on banks and Euro countries to achieve German Corporatism on the sly, and replace it with the predecessor IAS regulation.
    51/ Re Russia and China: the US needs to establish a cooperative business relationship – live and let live. The US idea of human rights is trying to get governments to establish welfare states and abortion clinics to kill off excess populations, versus encouraging high standard education for all. The US should encourage the later.
    52/ The Middle east Saudi Sunni Caliphate: With the reduction in the cost of global energy, oil to $60/brl., the Caliphate expansion will all but cease, and the Middle east and Islam will return to the Mecca peaceful Qur’an texts versus the Medina warlike / jihad texts as their guidance.
    53/ Global warming: Everyone wants clean air, clean water. With government defunding the global warming research to purvey the notion that oil prices should be high to achieve parity with the cost of solar and wind power, which was really a con thought up by big oil and the Middle East to fund their Caliphate expansion with the help of Obama’s elimination of dictators for Al Qaida to take over to form ISIS/ISIL, i.e., the Saudi Sunni Caliphate, we will go back to working to preserve the environment and achieve low cost technological energy solutions versus being sucked into an oil pricing scam to fund Middle east, African and global terrorism.
    54/ NASA and space exploration. There will be unmitigated expansion of capital. The government should go for PPPs.
    55/ Replace welfare with workfare and education grants to private sector schools

    The result of this will be as follows;
    Low taxes and no excise taxes will mean that the average citizen will see their take home pay check increase dramatically. With FASB115 restored, the banks will again lend to the private sector at very favorable debt service coverage and loan to value ratios establishing real value for property and businesses as before the Hoover/Bush43 scam to shift credit to the government and from the private sector. Low taxes will also mean the repatriation of Trillions of USD in investment capital, with the reestablishment of the USD as global currency. With the low taxes, lowering energy costs and credit access the multiplier effect, which is actually the number of times a loan can be reused in the banking system, with the Treasury establishing its own fully audited Private bank to replace the Fed to facilitate this effect, will increase from the current less than 1 to 4, 5, 6x or more, which means that there will be a sudden and unmitigated expansion of capital and with it the value of all bank assets. This in turn will mean that the banks will shift out of government debt (with its zero% risk weight) to private sector debt. That means that the government will have to print cash to take back treasuries, which are then retired. However, because of the expansion of capital and real value in debt, it means that the productivity relative to the outstanding dollars, which thus far has been sufficient to prevent the USD from failing, will start to increase. Its as this increases that the government needs to again begin printing to prevent deflation, but invest not in subsidies and welfare but rather in infrastructure, as previously mentioned. Such infrastructure investment will increase the productivity as a value within the currency dramatically. Again, productivity leads to deflation, so more printing to keep the asset values stable while real income increases as costs decrease and value / wealth increases.

    This is true democratization of wealth allowing each generation defined by income quintiles, to advance according to their talents and capabilities and dreams serving every sector of the economy.

    Within 6 months of implementing this plan, the US economy will surge and start to expand by 6% to 12% per annum, to the great benefit of every country around the globe., just as it did after Harding, Truman and Reagan became President, only the effect will be permanent, if all the above are put in motion.

    Don’t worry about Obama, racism, the Progressive, socialist agenda and depopulation. With the US pulling its plug on funding these areas and focused on economic expansion and social co existence, the jobs, income, opportunities, education will be at such a high level, that no one will be interested in pursuing those Progressive elite Corporatism demagoguery.

    • sherrian permalink
      November 8, 2014 9:21 pm

      I did not see anything about affordable rents, or putting back the stolen money from the social Security Fund. Other wise it all look good, let it be quick THANK YOU

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