Regardless the exact ratio, the likely result is in the middle of a severe unemployment crisis, for no logic reason, our government is going to adopt a package of massive spending cuts. The President has either allowed or actively enabled the conservatives to totally win this fight by moving the debate radically to the right. Now regular Americans are about to lose badly

It seems many on the left, like Paul Krugman, are quite happy with President Obama’s deficit speech. I will even admit to it being much better than what I feared, but that is only because some truly terrible trial balloons managed to set expectations incredibly low to begin with. The important point of the speech [...]