Time to Downgrade the U.S. Political System
The Debt-Ceiling Deal

Department of "Huh?!': Debt-Ceiling Deal

The White House says:

Office of the Press Secretary

FOR IMMEDIATE RELEASE

July 31, 2011

BIPARTISAN DEBT DEAL: A WIN FOR THE ECONOMY AND BUDGET DISCIPLINE

The debt deal announced today is a victory for bipartisan compromise, for the economy and for the American people…

No. It is a loss for the American people: it is not the way that they want to reduce the long-term deficit. It is certainly not a win for bipartisan compromise.

And it is not a win for the economy.

It is better than default would be--but default was never in the cards, at least not with lawyers at the president's disposal 10% as inventive as those who claim that we are not engaged in "hostilities" in Libya.

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