I was, and remain, absolutely opposed to negotiations on the debt ceiling. No one likes a high deficit, no one. But the unemployment rate still hovers at 9%, and in six months, it will be even higher. The problem as I see it, started from Day 1 where Obama started capitulating and ruling from the "center".
Last weekend, Obama had one other choice. He could have invoked the 14th Amendment and circumvented Congress entirely. But look at these arseholes. Really. Obama has been concilitory to the point of putting his cape in the mud so that those dainty conservatives wouldn't get their feet wet--and they still called him a fascist. Imagine him invoking executive authority! He'd have been nailed to the wall. So this was not the right time to make a stand.
However, the spinmeisters really failed Obama again. The Republicans came off looking poorly, but not that poorly. And it's still many months till the election. I'm not talking presidential, I'm talking about Congress. I'm not really worried about Obama winning. I'm worried about him winning back Congress. Looking at the facts, the people who hate the social safety net won the largest conservative victory since the Reagon era. Which frankly was more liberal.
This bill will be a disaster for America--but half of our recovery is confidence. If the Dems can make major victories next term, we can reverse this. And if we can show the world a confident America, our credit will improve instantly. To get that confidence we need a jobs program, and a strong welfare state. Two things which only a strong Democratic majority can provide.