President Barack Obama and House and Senate leaders announced today they have reached an agreement on the U.S. debt. The plan calls for increasing the nation’s debt ceiling to avoid default, and then convening some kind of congressional committee later sometime to do something about reducing the deficit, maybe.
The plan might reduce spending by a trillion dollars someday, and there might also be tax reform to increase revenues, although no one is sure.
The agreement does clear the way for both Republicans and Democrats to move forward with their election campaigns without the distraction of taking care of the nation’s business, and without being pinned-down to any real policy that might prove unpopular with one or the others’ constituencies.
So after weeks of fighting, arguing, whining, moaning, crying, threatening, and acting like spoiled children, the nation’s leaders have decided to go back to business as usual.