President Obama abdicates, not only his leadership, but also his morality by agreeing to this awful solution to the debt ceiling legislation. I'm fairly speechless about what has gone on during a presidency that had such promise, such opportunity. This is going to get uglier & uglier.
For the deal itself, given the available information, is a disaster, and not just for President Obama and his party. It will damage an already depressed economy; it will probably make America’s long-run deficit problem worse, not better; and most important, by demonstrating that raw extortion works and carries no political cost, it will take America a long way down the road to banana-republic status.