We didn't avoid default. There never was going to be a default and they knew it. That was purely manufactured rhetoric to scare and stir up the people so they would apply pressure where the politicians wanted pressure applied. And unfortunately, those not paying attention or so partisan blind they can't see fell for it.
Those on the right who were demanding fiscal responsibility and accountability got almost nothing they wanted. Essentially no budget cuts--those promised won't be upheld by future congresses. Such promises never do.
So we are left with:
The 2012 budget was slashed by $36 billion which translates to being raised $7 billion less than it otherwise would have been raised. There is no actual reduction of any budgeted item. And a legislation gimmick was used in the negotiations that the budget is now deemed to be passed. Meaning it will just go into effect and they won't vote on it. (The old Gephardt Rule or Slaughter Solution.)
The only items addressed in Social Security or Medicare was a possible trigger forcing a2% reduction in payments to Medicare providers meaning more doctors will stop accepting Medicare patients.
The "Super Congress" charged to find $1.5 trilion in more cuts by Thanksgiving is actualy rigged to force some revenue increases. The Bush tax cuts are off the table but when it comes to actually making tough choices, it is unlikely that at least one of the six will balk which will kill the initiative.
The $350 billion in Pentagon cuts are a win for liberals as entitlement benefits won't be touched. Just $7 billion will be cut in 2012 and $3 bilion in 2013 and of that combined $10 billion, half will be from the Pentagon. Anybody want to lay odds that a future Congress will have incentive to do more?
The debt ceiling: Raising the debt ceiling through 2013 will not be contingent on the second round of cuts. There will merely be a vote of disapproval. This avoids another messy fight in January and another round of painful forced cuts.
Discretionary spending would be cut by $21 billion in 2012 and $42 billion in 2013, according to an analysis by the Congressional Budget Office. A drop in the bucket considering it is only cuts in increases and not actually less money to be spent.
President Obama gets all the extra cash he wants to spend and the debt is still on track to grow by $7 billion over the next 10 years. (Such estimates are usually about half or two thirds less than what the actual debt will be if we continue as we are.)
FINAL ANALYSIS: The GOP caved, the Democrats got pretty much everything they wanted, and the President is speaking right now spinning even a more outrageous web of smoke and mirrors to convince his constituency that they actually did something worthwhile.
Meanwhile we are still in serious danger of a downgrade of our credit rating, unemployment will continue to hover around 10% and will likely get worse, the debt clock hasn't even slowed down a little bit, and the train continues a headlong rush toward the bankruptcy cliff.
I am seriously close to tears here.
Yup. Your right. This is just business as usual for the idiots in DC.
I find it hard to believe we taxpayers actually pay these Clowns.