Mr. Obama is doing what any good demagogue does: delivering his constituency to his campaign contributors on Wall Street.

Debt deal: Obama White House details By Lynn Sweet on July 31, 2011 10:58 PM | No Comments THE WHITE HOUSE Office of the Press Secretary FOR IMMEDIATE RELEASE July 31, 2011 BIPARTISAN DEBT DEAL: A WIN FOR THE ECONOMY AND BUDGET DISCIPLINE

Why Obama and so many Dems think the "deal" is a fair compromise, not a total capitulation or cave-in... Strategy 101.

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.

Crisis? What Crisis?Cheer up, America: Our nation won't default, nor is our government dysfunctional.

we can change the incentives that produce demonstrably bad government in Washington. We are not condemned to have a political system whose chief characteristics are venom, dysfunction and paralysis.

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."