Do you think Congress will actually do much at all regarding the budget, the deficit and the debt?

@josie: “the public will sort of forget about it.”

I’m sure you’re right. People have already forgotten the last president.

The public is noticing, taking names and come election time will serve notice to these yahoos that caved on their promises. I also predict a stronger and louder Tea party who will be at the throats of any and all who greatly compromised or reniged on capaign promises!

It does not look like it. I think that they may end up passing just a temporary raising of the debt ceiling.

These politicians would have to be suicide idiots not to increase the National Debt. How many people depend on Social Security? These people make up a large number of recepients. These people have a strong voting power and I think the politicans know this.

I fear you may be right, which is a real shame with all that could have been accomplished.

I think this time around (unlike during the Bush years or any presidencies/congresses prior) the election implications will be far more profound. The real question being, who will they favor and who will they hurt…. and we’ll have a whole year of politics to let us know how we should feel about it…... hooray!

The right is going to want to go balls to the walls with this in the presidential campaign, watch.

It doesn’t seem they will make much progress. I think the Debt Ceiling will get raised but there won’t be much progress on reducing the debt.

The real sticking point here is the tax cuts. Obama will not accept any tax reform that does not include raising the rates on the rich. The Republicans won’t accept any plan that raises the rates.That’s why when they had almost reached agreement with the whitehouse on the $800 billion in revenue ‘Enhancements’ Obama changed the number. As soon as Obama realized the number could be met without raising rates, he had to change the number.

Obama needs to use the tax rates as part of his 2012 campaign. If he accepts tax reform as part of this deal and it does not raise rates, he will be stuck when the Bush tax cuts expire at the end of 2012. He will have already agreed with the rates. Consequently he can’t let any tax reform be attached to this bill that does not raise rates. And that my friends is the real sticking point in all these negotiations.

@Jaxk Leave it to you to polarize it and turn it into politics. (not to mention ignore that Obama and Dems agreed to make major cuts to entitlement programs (a liberal sacred cow) in exchange for significantly less tax raises)

@tedd

I’m polarizing the debate? I would think, even the most casual observer would recognize that the debate IS ALREADY POLARIZED.

We don’t know what SS cuts he’s talking about since no one will define them. The last I heard they we merely eliminating ‘fraud and abuse’. I have no problem with that but it certainly doesn’t take much courage to address them.

Significantly less tax raises means what? Less than what? Why do you suppose he’s willing to go for spending cuts (minor though they may be) without tax reform? It’s because the tax reform does not raise the rate but only closes loopholes. He can’t afford to agree to tax reform unless it raises rates. That’s his campaign pledge and pretty much the only thing he’s got left to argue in the coming election. Without a hike on the top 2% he will not agree to any tax reform. That’s the bottom line. And the Republicans won’t agree with any tax reform that does include raising rates. That’s why the bills from both the house and the senate do not include any tax reform.

They’ll raise the debt ceiling. The End