OVERNIGHT MONEY: Together again

WHAT ELSE TO WATCH FOR:

Not Geithner: Sad news for those of you getting psyched for Treasury Secretary Timothy Geithner’s scheduled appearance before the House Financial Services Committee on Wednesday. 

Apparently, Geithner’s tight schedule would have limited him to less than two hours of testimony — and we all know that the last administration-GOP scheduling back-and-forth devolved into something of a tiff. 

{mosads}Couple that with uncertainty over how long the White House’s morning meeting with Republicans can go, and you’ve got the recipe for a postponement. The hearing will be rescheduled, though not as of yet.

Yes, appropriators: In fact, expect to see the House Appropriations Committee on overdrive this week. 

Leading off, the full committee on Tuesday approved an agriculture bill making cuts to child nutrition and food-safety spending. 

Looking down the line, the defense subcommittee is set to mark up a bill increasing non-emergency funding by $17 billion on Wednesday. The day after, the Energy title will get a subcommittee markup. And to start off your weekend, the homeland security and military construction bills are expected to hit the House floor on Friday.

As our Erik Wasson would say: Whew! All of those bills are based on spending levels from the House GOP budget resolution, which the Senate rejected last week. That means the measures are likely to need a significant edit before becoming law. 

Ron Paul: While full Financial Services has to take a rain check, Rep. Ron Paul (R-Texas) is scheduled to keep his domestic monetary policy subcommittee busy with a hearing on — surprise, surprise! — the Federal Reserve.

This time, the noted Fed critic will be examining the central bank’s recent disclosures (spurred by requirements in Dodd-Frank and Freedom of Information Act requests) that it lent money far and wide during the height of the financial crisis. 

Wall Street on Capitol Hill: The Securities and Financial Markets Association (SIFMA), the Wall Street lobbying group, is scheduled to hold a briefing on housing finance and securitization on Wednesday. That get-together, of course, comes a day after the latest S&P/Case-Shiller index showed housing prices falling all across the country.

Everywhere, that is, but the nation’s capital. 

Think tank roundup: The conservative American Enterprise Institute takes on a pair of financial issues on Wednesday, with a morning event on the World Trade Organization’s Doha round. (Is it dead, they ask? Does it matter?)

The afternoon sees an event on the carbon tax. 

Economic indicators:

— The Mortgage Bankers Association is slated to release its weekly applications figures. 

— The Commerce Department will likely report that construction spending for April decreased. 

— A few days ahead of the Labor Department figures, the ADP employment report could show that 170,000 jobs were created in May, down from 179,000 in April. 

— And the Institute for Supply Management is expected to release its manufacturing index for May. If Tuesday’s Chicago report is any indication, activity in the sector is trending downward. Estimates are expected to show that the sector is still growing, although at a slower pace. 

BREAKING TUESDAY:

About that debt-ceiling vote: More than half of House Democrats voted for the clean increase, even as party leaders advised them not to. The top two in the caucus — Reps. Nancy Pelosi and Steny Hoyer – voted no, and more than a couple Democrats voted present.

No Republicans voted for the increase, though Reps. Louie Gohmert and Don Young did switch from yay to nay during the vote. 

Food stamps: Employment may have stabilized, The Wall Street Journal reports, but the use of food stamps continues to rise. According to the Agriculture Department, close to 45 million Americans relied on food stamps in March, a jump of 11 percent from a year earlier.  

WHAT YOU MIGHT HAVE MISSED:

— Obama taps a new Commerce secretary.

— Housing sector to Washington: Leave the market alone.

— The White House is not down with the House GOP’s homeland security appropriations.

— Democratic Sens. Barbara Boxer, Bob Casey want no lawmaker pay in case of a default.

— Sen. Bernie Sanders on the budget: I need at least 50-50 (tax revenue to spending cuts).

— The U.S. wades a little deeper into Doha.

— Rep. Elijah Cummings wants to peek at foreclosure practices.

— And consumer confidence goes down.