Debt ceiling agreement a fair compromise?

Answering today’s question, I realized there are two distinctly different kinds of deals: those that produce new ideas and those that reduce all ideas to the lowest common denominator.

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Arena Asks:Facing the imminent prospect of default, the White House and Senate Republicans worked through Sunday to close a debt ceiling deal that gives President Barack Obama greater certainty in managing the Treasury’s borrowing needs while making a joint commitment to major deficit reduction without any explicit concessions by the GOP on new tax revenues. Is this a good deal? Which side came out ahead?

My Answer: Unlike Franklin Roosevelt’s New Deal, which created an expansive new vision for America, this Obama–Boehner–Tea Party Deal lowers our sights as a nation. It’s a deal in the negative, narrow, horse trading sense of the word. It is a leadership fail all around…

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