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Whether you think a compromise was necessary or not, I defy anyone to defend the negotiation in this reported deal.
In exchange for concessions on tax policy with a value of approximately a trillion dollars (from the President's initial offer) , the President and his men got in exchange . . . 15 billion dollars in unemployment insurance extensions. Nothing else.
That's it. There is no meaningful extension of the sequester period (60 days is nothing.) There is no increase in the debt ceiling. There is not even a waiver of offsets for the 60 day period.
So in 60 days the Republicans will hold spending hostage and the debt ceiling won't be raised until Obama capitulates.
Who thinks he won't? I don't.
So, the one strong chip the President had - tax policy, is traded for unemployment insurance extensions for a year. And nothing else. Everything else Democrats hold dear is now in play. Everything.
What will Obama do when Republicans threaten to destroy the country's credit rating? He will capitulate of course. And probably with reason.
The problem with this negotiation is instead of applying a "there is no agreement on taxes until there is agreement on everything" strategy, the President and his men have handed Republicans the one issue they care about and resolved nothing that Dems care about except unemployment insurance extensions.
This is criminally bad negotiation and unacceptable.