After weeks of bipartisan negotiations, President Barack Obama said congressional leaders agreed to a plan that would lift the nation's $14.3 trillion debt ceiling and avoid an unprecedented default on the nation's debt -- if, that is, members of Congress vote to approve the agreement.
This isn't even a done deal, as this monstrosity still has to navigate both chambers of Congress (with the Senate expected to start work today) before we get a finished product.
So far, this debacle seems to have followed the same depressing pattern: 1.) Obama suggests a piece of legislation 2.) Republicans and Blue Dogs lock arms to shriek NO NO NO NO NO no matter what the content of the bill is. 3.) Obama gives in. 4.) See step 2. 5.) Obama gives in some more. 6.) See step 2. 7.) Obama scraps anything that progressives and/or liberals liked about the legislation in the first place, and inserts 75-80% of what Republicans demanded. 8.) House and Senate Republicans are dragged, kicking and screaming with all their might, over the finish line, and wind up with both what they wanted to begin with and an excuse to get red-faced and screamy on Fox News about how Obama "shoved [this legislation] down our throats."
It's the circle of life, baby!