Courtesy of ZeroHedge. View original post here.
With another debt limit fight, the defunding of Planned Parenthood, and prospect of another government shutdown tearing the party apart, the GOP just suffered its latest major blow when news hit that House speaker John Boehner is folding one last time:
- BOEHNER TO RESIGN FROM CONGRESS, GIVE UP HOUSE SEAT IN OCT: NYT
This not only makes a government shutdown more likely as a result of loss in leadership at this crucial stage but more importantly, with Yellen blaming Congress for not hiking, just raised the general uncertainty and lowered odds of a December (or any subsequent) rate hike.
Speaker John A. Boehner will resign from Congress and give up his House seat at the end of October, according to aides in his office.Mr. Boehner was under extreme pressure from the right wing of his conference over whether or not to defund Planned Parenthood in a bill to keep the government open.
Boehner Statement:
Boehner aide's full statement on impending resignation. Comes amid rumblings of conservative coup. pic.twitter.com/ZB3IY8xdbC
— Benjy Sarlin (@BenjySarlin) September 25, 2015
* * *
With Boehner gone, the debt ceiling vote just got a lot trickier for the White House and Wall Street. A LOT TRICKIER.
— Damian Paletta (@damianpaletta) September 25, 2015
And the market knows it…
