The debt ceiling deal has rightfully been criticized by progressive commentators. One problem with the deal is its content: its deep cuts in spending on health care and other valuable domestic programs; its lack of additional revenues through progressive taxation; and finally, its movement away from providing a Keynesian stimulus, even as the Great Recession (or "Lesser Depression") continues. A second major problem with the deal is that it so greatly rewards, and thereby encourages, the "extortion politics" of Republican leaders who, throughout the negotiations, based their positions on delusional--even idiotic--claims ( tax cuts always increase tax revenues, to cite just one example). Yet, while progressive commentators did a good job pointing out these serious failings in the deal Obama accepted, it concerns me that, in many cases, they encouraged Obama and the Democrats ...
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