On Sunday evening, President Obama announced a deal agreed to by congressional leaders that raises the debt ceiling until 2013, makes a trillion in cuts that don't begin to take effect until then, and mandates a process that gives Congress the responsibility for agreeing on a package of cuts and revenue by the end of the year. Good luck with that. Neither GOPer conservatives nor progressive Dems were jumping with joy immediately, so it won't be until later Monday that it becomes clear whether there are votes to pass this in time.
As for the package, the White House summary makes it sound not catastrophic, though Paul Krugman makes it seem exactly that. Who knows. Ditto for the politics of it all. The lefty response has been brutal: "surrender" is the first watchword. Only Ezra Klein so far is sanguine, with hope for Dem priorities. I just hope that the President at least verbally nails the GOPers for extortion and exacting ransom--which are words that the NYT and WA Post used. I'm just worn out by it all.
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