Obama Screws the people who elected him. Guarantees he will not be reelected.
Paul Krugman

And then there are the reported terms of the deal, which amount to an abject surrender on the part of the president. First, there will be big spending cuts, with no increase in revenue. Then a panel will make recommendations for further deficit reduction — and if these recommendations aren’t accepted, there will be more spending cuts.

Republicans will supposedly have an incentive to make concessions the next time around, because defense spending will be among the areas cut. But the G.O.P. has just demonstrated its willingness to risk financial collapse unless it gets everything its most extreme members want. Why expect it to be more reasonable in the next round?

In fact, Republicans will surely be emboldened by the way Mr. Obama keeps folding in the face of their threats. He surrendered last December, extending all the Bush tax cuts; he surrendered in the spring when they threatened to shut down the government; and he has now surrendered on a grand scale to raw extortion over the debt ceiling. Maybe it’s just me, but I see a pattern here.

The pattern I see here is Obama has, again, kissed Boehner and McConnell’s ass, lied to his supporters, and has no balls when it comes to sticking up for the people who put him in office.

“The president didn’t give one inch,” Gene Sperling, the director of the National Economic Council, said on MSNBC’s “Morning Joe.” “The president didn’t give one inch. the president made clear, while he was willing to compromise, he was not willing to allow anyone to hold our economy or government hostage by using the threat of default.”

Sperling is right. Obama didn’t give one inch, he gave all 3,600 inches of the football field and laid them in the laps of the Republicans. He just gave the majority of Americans the middle finger up their ass hoping, I suppose, we will all think it felt good by 2012.

Watch this video from Current’s Countdown with Keith Olbermann, broadcast Aug. 1, 2011.

New rule: Not all of the teapartiers are teabaggers. The rest are KOCH SUCKERS.