eznark said:
How?
Now, not getting a deal would have killed him but bending over and taking it like this won't do him any favors come November 2012.
1. Debt limit hiked by 2.4 Trillion
2. Super Congress will get to cut an 1.2 trillion from spending cuts, tax hikes etc
3. If 2 becomes an issue, automatic spending cuts will occur between social and defense programs on a 1:1 basis.
4. Domestic cuts include Medicare but expempt Social Security and Medicaid
5. If the committee fails to produce tax reform by November , Obama has the right to veto any extention of Bush tax cuts.
6. There is no trigger vote on balanced budget amendment which the Tea Party wanted.
7. Revenue increases are in the mix, it is allowed along with spending cuts for the Super Congress
it is not a perfect deal but it is a deal which removes all Tea Party demands and removes all Progressive Democrats demands. That is the Compromise. This is a centrist agreement. Progressive GAF may not like it, Hotair.com and donttreadonme.com may not like it. but this will work well with centrists