I’m running on about three hours of sleep; so, if I sound a bit cranky, that is why.
Finally, these morons have gotten their proverbial shit together and got some sort of a deal together….FINALLY:
Here, according to Democratic and Republican sources, are the key elements:
A debt ceiling increase of up to $2.1 to $2.4 trillion (depending on the size of the spending cuts agreed to in the final deal).
They have now agreed to spending cuts of roughly $1.2 trillion over 10 years.
The formation of a special Congressional committee to recommend further deficit reduction of up to $1.6 trillion (whatever it takes to add up to the total of the debt ceiling increase). This deficit reduction could take the form of spending cuts, tax increases or both.
The special committee must make recommendations by late November (before Congress’ Thanksgiving recess).
If Congress does not approve those cuts by December 23, automatic across-the-board cuts go into effect, including cuts to Defense and Medicare. This “trigger” is designed to force action on the deficit reduction committee’s recommendations by making the alternative painful to both Democrats and Republicans.
A vote, in both the House and Senate, on a balanced budget amendment.
Of course, the left is not happy with this at all; because there is no revenue (read: Tax Increases!) at all. The right is not breaking out the pom-poms either; they’re saying the cuts are not enough.
To both sides; I say this…. Well, it is something!
Because folks, whether either side wants to acknowledge this or not — if we default — we are seriously fucked! Trust me, when I say this; we do not want that, at all.
As for me; I will be so glad, when this story goes away — because I am about damned sick and tired of reading about it!
Anyhow, here’s the round up of the bellyaching and ballyhooing and so forth: The Daily Beast, Le·gal In·sur·rec· tion, The New Republic, Shakesville, theblogprof, No More Mister Nice Blog, AmSpecBlog, Pirate’s Cove, The Daily Caller, americanthinker.com, The Sundries Shack, RedState, YID With LID, Daily Kos, Booman Tribune, The Moderate Voice, Donklephant, Weasel Zippers, Hugh Hewitt’s TownHall Blog, AMERICAblog News, CNN, The Right Scoop, Alan Colmes’ Liberaland, Taegan Goddard’s …, Questions and Observations, Pajamas Media, Politics and Verum Serum — The rest via Memeornadum
Update: 3:44 — Would you believe those morons have not struck a deal….yet? AllahPundit has the low down.