Craig Crawford: Why Obama Won Debt Deal

[UrbScotty]

The President got what he most wanted, postponing another debt ceiling fight until after the election and without politically damaging entitlement cuts.

Everything else is eye wash. Most of the spending cuts are in the out years, which is another way of saying it won’t happen.

And one more committee to study cuts? Oh please, even if they call it a “super” committee that’s always a Capitol Hill euphemism for doing nothing. Adding so-called triggers for cuts if goals aren’t met also means nothing. Remember Gramm-Rudman?

Giving up tax increases on the wealthy is probably Obama’s biggest concession, but that fight lives for another day when the Bush cuts are scheduled to expire later on.

http://craigcrawford.com/2011/07/why-obama-won-debt-deal/

Interesting read. Even though it hasn't been finalized, it doesn't look as bad as many of us (myself included) feared.