All the Republicans are slapping themselves on the back on what a great deal they got, and all of the Democrats are waving their hands in frustration. Ah we lost, Obama is so terrible, etc.
But maybe not. Remember the government shutdown threatened in 2011? There, a last minute budget deal was also made. If you looked closely at the details, that deal did not deliver anywhere near the cuts that Republicans claim.
How about the debt deal? check out this article by Tom Coburn.
In the article, Coburn explains why he voted against the debt deal. First, he notes that the change next year is totally insignificant.
It is true that next year there will be a genuine cut of $7 billion when discretionary spending drops from $1.05 trillion to $1.043 trillion. But with our government borrowing $4.5 billion a day, that $7 billion is enough to fund the government for about 36 hours. And after our day and a half of restraint, spending will increase $830 billion over 10 years.
Then he notes that this committee is a charade and that the trigger will have no effect.
Supporters say the real savings will come when the joint committee the deal empowers makes recommendations to reduce the deficit by at least $1.2 trillion (as we increase the debt limit by the same amount). But the enforcement mechanism designed to force these hard decisions — across-the-board cuts to defense and nondefense programs — will never work. Congress will easily evade these caps. In the Senate, all it will take is 60 votes — the threshold for passing anything. Some have complained about defense cuts, but everyone in Washington knows those cuts can be avoided through supplemental or “emergency” spending bills.
Basically this whole debt bill that the Republicans are congratulating themselves on? It's a farce. It won't cut anything. It will have no significant effect. All of the effect is in the 10 yr time scale. Totally unenforceable, that future Congress and President will easily get around it.
Fact is that the Republicans talk a big game, but they are frauds. They have no appetite for these cuts either. This whole debt deal is smoke and mirrors, and the cuts are ultimately insignificant.