"Taken for a Fool" - The Strokes
I am afraid this pesky work thing is going to prevent my giving any kind of decent analysis of the debt deal. I am not happy with the fact that we got to this point -- I think that the extension of the Bush tax cuts should have been leveraged to get a debt ceiling increase simultaneously and that many people made this point at the time -- and not thrilled with the outcome and less thrilled by the precedent. For a balanced approach (to coin a phrase) to what was agreed to, I'd recommend this piece at TPM by Brian Beutler. I think he's got it about right in terms of the degree to which this is a bad deal and some of the factors that may help mitigate it in the long run. Jonathan Chait, at TNR, is a little more optimistic, although also disturbed by the precedent.
And Kevin Drum goes a step further and attempts to war game out how the Bush tax cuts will then play out in 2012. I'd be curious as to your reaction to this scenario -- what do you think happens with the Bush tax cuts if Obama is re-elected?
Finally, Mitt "Profiles in Courage" Romney announces that he opposes the deal and would support only a bill that was "cut, capped, and balanced." I am shocked that Mittens would pander to the worst that the GOP has to offer.
What else is bugging you?
Update: Oh I badly needed something to smile about and Tom Tomorrow supplied the goods.
