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Why Obama Won Debt Deal by CRAIGCRAWFORD on JULY 31, 2011 · 91 COMMENTS · in ALL POSTS 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.

This seems to be The President's modus operandi - 1) Lay out clear markers that are supported by a majority of Avericans - i.e. balanced approach with cuts and revenues; 2) Watch the republicans take a hard line to satisfy the tea party; 3) Give the republicans 99% of what they want; 4) Blame the left for not compromising. It looks like the framework for the deal is beginning to take shape, and it's not at all surprising. Tilted heavily toward cuts that will affect the middle and working classes disproportionately, and almost tailor-made to spare the rich any sacrifice whatsoever. While this is not surprising given the terms of the debate, it still boggles the mind to witness our republic complete its transformation into the very definition of a plutocracy. We have a political system designed specifically to protect the interest of the monied elite (I suppose one could argue that this had been the case for a long time, but it only really became nakedly, brazenly obvious during the 2008 financial crisis). Stories like these don't end well. Including for the elite. The history books are replete with warnings. Our country is going into a dark time.

C.I.A. Demands Cuts in Book About 9/11 and Terror Fight http://t.co/4UejUxA

RT @Emperor_Bob: Austeridiocy: Budget Cuts Take Money Out Of The Economy http://t.co/2MSPmKU

Speaking at the Twitter Town Hall at the White House today, the president said Congress "shouldn't be toying" with the debt ceiling and cautioned against risking the financial health of the country in order to protect the interests of the super wealthy.   "Never in our history has the United States defaulted on its debt. The debt ceiling should not be something that is used as a gun against the heads of the American people to extract tax breaks for corporate jet owners, for oil and gas companies that are making billions of dollars because the price of gasoline has gone up so high.  I mean, I'm happy to have those debates.  I think the American people are on my side on this," Obama said. The president was adamant that when it comes to fixing the economy and solving the deficit problem "we should go with what works," and that's a tax increase on the wealthy. "If the wealthiest among us -- and I include myself in this category -- are willing to give up a little bit more, then we can solve this problem.  It does not take a lot… when people say, you know, "job-killing tax increases, that's what Obama's proposing," we're not going to," he said. "You're entitled to your own opinions, but not your own facts.  And the facts are that a modest increase for wealthy individuals is not shown to have an adverse impact on job growth." "We can test the two theories.  You had what happened during the '90s.  Right?  Taxes for wealthy individuals were somewhat higher, businesses boomed, the economy boomed, great job growth;  and then the 2000s, when taxes were cut on wealthy individuals, jobs didn't grow as fast, businesses didn't grow as fast. I mean, it's not like we haven't tried what these other folks are pitching.  It didn't work.  And we should go with what works," he said.

White House Spin on Cave-In: In Securing this Bipartisan Deal, the President Rejected Proposals that Would Have Placed the Sole Burden of Deficit Reduction on Low-Income or Middle-Class Families: The President stood firmly against proposals that would have placed the sole burden of deficit reduction on lower-income and middle-class families. This includes not only proposals in the House Republican Budget that would have undermined the core commitments of Medicare to our seniors and forced tens of millions of low-income Americans to go without health insurance, but also enforcement mechanisms that would have forced automatic cuts to low-income programs. The enforcement mechanism in the deal exempts Social Security, Medicaid, Medicare benefits, unemployment insurance, programs for low-income families, and civilian and military retirement.

This seems to be The President's modus operandi - 1) Lay out clear markers that are supported by a majority of Avericans - i.e. balanced approach with cuts and revenues; 2) Watch the republicans take a hard line to satisfy the tea party; 3) Give the republicans 99% of what they want; 4) Blame the left for not compromising.

Glenn Greenwald - Salon.com

Is Obama's new "debt commission" about to savage Social Security for no reason? Sure looks like it.

'Billionaires For Social Insecurity' Gather

Glenn Greenwald, Salon.com