There may ultimately still be some good that comes out of this:

[MN TN]

Did Obama really have any choice but to cave since there was no time left to negotiate and he knew the GOP would never budge?

According to some journalists:

(1) Obama lost but set himself up for victory later
(2) Tea party more likely to lose 2012 independent votes because of their refusal to compromise.
(3) Obama managed to "defuse debt ceiling bomb until after 2012 election."
(4) Obama is now clearly perceived as more likely than GOP to compromise which is what most voters want.
(5) He will have support of most Americans to use "Its time to finally raise taxes on the rich" as a campaign victory speech in 2012.
(5) Jonathan Chait at the New Republic: "Luckily, he still controls the fate of the Bush tax cuts, which are set to expire in December 2012. If Obama uses that leverage to turn tables on GOP, this debt deal is just a 'shrewd strategic defeat'".

[geckosfeet]

1. By 2012 this will be distant memory. But the chips in the foundations of social safety

nets will have grown into large cracks, and the rich will have grown richer.

[MN TN]

5. I understand though that most cuts will be in defense spending

It will also take a while for Congress to act on these cuts.
Slowly over next 10 years.

[geckosfeet]

9. Yes. I was told that as well. But seeing is believing. I see two and half wars,

a multitude of military bases around the world, Wall Street getting tax money to use for bonuses, 401k and home values decreasing, education being cut, social programs being cut and unemployment increasing, and Wall Street and the republicans looking to get a hold of my social security savings.

How am I supposed to take your 'defense' of the deal, and the deal itself? With a tube of KY jelly?

[Pholus]

2. It'd be nice, but after 2 years I am impatient with "wait till tomorrow" talk on the Bush cuts.

We want to govern so we need stuff, the 'thugs have seen us cave when they take a hostage, I have seen NO indication that we have been able to counter that.

So, he has some leverage on the cuts but I am not positive he has the will to use it.

However, thank you for the only argument I've seen that actually makes me think that there MIGHT be a plan under this.

[rurallib]

3. Once again he taught the Republicans that false choices and hostage taking works

I think that is lesson #5 in the series.

[MN TN]

4. . . . temporarily, yes. But if Freepers are now worried their extremism might backfire , . .

there might still be a light at the end of this dark tunnel.
They may have just lost the next election.

[uponit7771]

6. Nah, all is bad lets just die and burn everything down right now!!!!!

[MN TN]

7. OK but one more thing: Since GOP finally got its way, less likely to vote in next election

[dtexdem]

8. What? The heat wave? Yeah, the good has already come: I don't have to mow.

Oh, you mean the mess in Washington. Well, no, no good whatsoever will come out of that.

Now, back to the weather ...