Overnight Finance: Trade deal sets up tough vote

Don’t even get me started on the Eagles… 

TOMORROW STARTS TONIGHT: WHO WILL LEAD THE HOUSE REPUBLICANS? Cristina Marcos for The Hill: Speaker John Boehner (R-Ohio) is postponing House GOP elections for majority leader and whip at the behest of conservatives. House Republicans had been scheduled to vote behind closed doors Thursday for the two positions, but will now just vote on electing a Speaker to replace Boehner at that time. Votes on a new majority leader and whip will not take place until after the full House votes to elect a new Speaker on Oct. 29 — the day before Boehner is to finish up as Speaker.  It’s possible those elections won’t take place at all.http://bit.ly/1KWvaPP

{mosads}THIS IS OVERNIGHT FINANCE, where we don’t understand why they just don’t vote on Speaker tonight and save themselves the drama. Tweet: @kevcirilli; email: kcirilli@digital-stage.thehill.com; and subscribe: http://digital-stage.thehill.com/signup/48. Hope you had a good weekend. Earlier today, we were stationed inside 1600 Pennsylvania Ave. filling in for our indefatigable White House reporter Jordan Fabian. Know what cures a cold? Whiskey. So, let’s drink… 

SHOT, via wanna-be House Speaker Rep. Jason Chaffetz (R-Utah), who told MSNBC’s ‘Morning Joe’ earlier: “When we heard the president, for instance, say that he has no negotiations on the debt ceiling, that’s not palatable to a lot of us… We don’t want to continue to have to go to the Chinese to borrow money. We actually want to change the trajectory of spending in this nation and get our fiscal house in order. So we need to internally figure out what bill we’re going to actually put on the president’s desk.”

CHASER, via White House press secretary Josh Earnest at briefing earlier today: “There’s significant risk associated with monkeying around with the debt limit, and using it as a, you know, as a, essentially, a political football in the midst of a contested leadership race, I think, would satisfy the requirements of describing something as ‘monkeying around.'”

More debt limit drama…

DEBT DRAMA PUTS NEW PRESSURE ON BOEHNER, via WSJ: “A new early November deadline puts fresh pressure on House Speaker John Boehner to spend his last month in Congress wrangling fellow Republicans to do something they loathe: raising the debt ceiling. Late Thursday, the Treasury Department said the federal government would need to increase its borrowing limit by Nov. 5, less than a week after Mr. Boehner leaves Congress. House Republicans will hold elections to pick his successor in the coming week, but few want to force a new speaker to deal with such an uncomfortable task right away… Mr. Boehner, of Ohio, said this past week there were “a number of issues” he would try to tackle this month in an effort to help out his likely successor, Majority Leader Kevin McCarthy of California. Many Republicans have balked in the past over voting to raise the debt ceiling, forcing Mr. Boehner to turn to Democrats to pass legislation enabling the U.S. government to pay its bills on time. Those votes helped stoke conservative ire against Mr. Boehner for years, leading up to his decision to resign.” http://on.wsj.com/1WD1wEy

Trade talk… NOT just for the Eagles…

SANDERS BLASTS OBAMA ON TRADE, via Vicki Needham: Sen. Bernie Sanders (I-Vt.) labeled a new trade deal finalized by the Obama administration on Monday as “disastrous,” and said he would work to defeat it. Sanders, the Vermont senator leading Hillary Clinton in polls of the early-voting state New Hampshire, said the Trans-Pacific Partnership will lead to the loss of U.S. jobs, adding he was “disappointed but not surprised” by the decision to complete it. “Wall Street and other big corporations have won again,” Sanders said. “It is time for the rest of us to stop letting multinational corporations rig the system to pad their profits at our expense.” http://bit.ly/1M6O5JT

— Meanwhile, our Jordain Carney reports: Senate Majority Leader Mitch McConnell (R-Ky.) warned Monday that Congress will give “intense scrutiny” to the Trans-Pacific Partnership (TPP) after negotiators reached a historic deal. “Serious concerns have been raised on a number of key issues,” McConnell said in a statement. “This deal demands intense scrutiny by Congress and the legislation we passed earlier this year provides us the opportunity to give this agreement that scrutiny.” http://bit.ly/1Z50vHF

DAILY DISTRACTION: WINKLEVOSS TWINS’ BITCOIN NOW A BANK, via Cory Bennett: New York’s top banking regulator on Monday granted a banking charter to bitcoin exchange Gemini, launched in January as a “hack-free” site. http://bit.ly/1FQmf3Q

REPUBLICANS POUNCE ON ELIZABETH WARREN’S WONK WAR, via John Fund at the conservative National Review: “[The hero of the Democratic Party’s liberal activists — Elizabeth Warren — forced the resignation of Robert Litan, a distinguished scholar from the center-left Brookings Institution. Her actions deserve attention because they suggest the tactics she might employ if she were to become the Democratic presidential nominee — or the president. Her hardball moves also underline just how intolerant of opposing views many liberals now are. Litan, who had been affiliated with Brookings for more than 40 years, is no conservative, but his failure to sign on to the Warren crusade against financial institutions turned him into a casualty. Previously, Warren had blocked investment banker Antonio Weiss from becoming a top Treasury official and Larry Summers from becoming Federal Reserve chairman. She has real power. But is she misusing it?… Senator Warren has a lot personally invested in the rule. She and President Obama launched the idea at a high-profile event at the main office of the American Association of Retired Persons in March, only to see opposition quickly mount. Bills in both the House and Senate are aimed at blocking the rule from taking effect. The Hill reports that ‘should Democrats get onboard with those measures, it will make it next to impossible for the administration to implement the regulation before Obama leaves office.'” http://bit.ly/1YTKFiO

WEEK AHEAD… WILL EX-IM GET REAUTHORIZED? And are we any closer to clues on a rate hike? My exclusive preview of this week in wonk world, only on The Hill: http://bit.ly/1ja0bXG

HILLARY CLINTON ON ‘SNL’ AND ‘TODAY’ … BUT IS IT TOO LATE? As Vice President Joe Biden inches closer to a presidential run, Clinton-world seems determined to re-cast Clinton as an underdog fighter, looking to recast her as a Scranton fighter. But doesn’t Biden have closer ties to Scranton than Clinton? Time will tell…

Frank Bruni in The New York Times: “I blame us in part. For years we’ve demanded that she show us something more raw, that she weep or bleed or chirp or quip, that a policy wonk isn’t enough, that a résumé is only the start. We’ve reminded her of how nimbly her husband pivoted from noonday speech to late-night saxophone. We’ve insisted that our presidents and would-be presidents not only inspire but also divert us. And we’ve pumped up the scandals, ratcheting up the pressure on her to feed us distractions. But still I’m baffled. How can her response to charges that she’s too packaged and calculating be this packaged and calculated? And to counter her image as entrenched political royalty, why would she enlist stars whose presence merely emphasizes her pull with, and membership in, the glittery world of celebrity?

” […] I think that Clinton is actually in less trouble than we sometimes speculate. She remains the overwhelming favorite for the Democratic nomination. But her campaign so far is an unimpressive dress rehearsal for the general election. It’s devoid of soul and sweep, a series of labored gestures and precisely staked positions. Constituency by constituency, leftward adjustment by leftward adjustment, she and her aides slog and muscle their way forward… She is routinely reintroducing herself, forever trumpeting the real Hillary this time, constantly promising the unguarded Hillary at long last. But the real Hillary has always been there, the thread running through all the changes in costumes and hairstyles and campaign events. She is fiercely intelligent but, yes, wildly defensive. She does her homework with uncommon diligence and earnestness but can be a dud on the stump. She’s impressively controlled. She’s distressingly controlling. There’s more than enough good in that mix for voters to make peace with it. But first Clinton has to make peace with it herself.” http://nyti.ms/1ja0UYQ

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