Quote of the Day

“If the White House is able to pocket this revenue and then extract a 1:1 match, or something close to it, for any further spending cuts, administration officials are liable to end up looking quite smart. But if, as Republicans believe and some Democrats fear, the White House folds when confronted with the debt ceiling and agrees to big entitlement cuts in return for few or no revenues, this deal will be seen as the moment when the White House blinked and traded away the guaranteed revenue of the fiscal cliff for a lowball offer from the GOP.”

Ezra Klein, WaPo

This mini-deal is a battle, not the war, which may be the reason it can pass the House.  It’s impossible to say who won and who lost until we resolve the debt ceiling and the delayed sequester.  Tougher fights to come.

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