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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. 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.

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.

Boehner, Cantor Question White House on Proposed Health Care Summit

Both Republicans and Democrats have been explaining that "There Is No Alternative," we need public policies promoting austerity because government is "out of money." The question seems to be not "do we need austerity?" but "will we be austere sooner or austere later?" Meanwhile, the bipartisan consensus is that the government is definitely out of money. But these assertions are at odds with the common knowledge that the U.S. government literally creates its own money. Unlike the euro, the dollar is a sovereign, fiat currency, unconstrained by exchange rates or treaties. And since Nixon closed the gold window, government can issue dollars without waiting for gold or silver mines to provide any backing for them. So we can't possibly be "out of money," any more than the Bureau of Weights and Measures can be "out of inches."

Without a hardline group of progressives willing to join with Republicans and defeat Democratic legislation unless that legislation meets certain progressive criteria, every legislative fight will follow this process of backroom deals with corporate interests resulting in an inexorable right-wing slide. ...The Progressive Block needs to publicly draw clearn lines in the sand before draft legislation is introducted. This allows both netroots and grassroots activists to organize around that line in the sand. Otherwise, given the backroom nature of these dealings, there is no way for the progressive activist base to play any meaningful role in the legislative process, and all negotiation power is ceded to corporate lobbyists.

Senator John McCain warned his Senate colleagues on Wednesday, "To hold out and say we won't agree to raising the debt limit to pass a Balanced Budget Amendment to the Constitution, it's unfair, it's bizarro."

he apparent victory by Republicans in the debt ceiling debate will now give the GOP "ownership" of the economy. That's another victory for Obama because the economic outlook right now looks very, very bleak. In short, this was a great victory for the electoral prospects of Obama - even if it was a loss for the prospects of progressive political achievements.

The House majority leader is trying to stop the U.S. government in its tracks. And so far, he's doing a pretty effective job.

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