A deal has been cobbled together, but there are still questions about whether it can pass both houses of Congress. Many Democrats are incensed at what is hard to spin as anything other than capitulation to Republican demands. Republicans are bridling at a trigger in the proposed deal that would cut $750 billion from defense spending over 10 years if a super-committee of 12 congresspeople cannot agree on more future cuts.
Conservative commentator David Frum has an interesting opinion.
Liberal and Nobel-winning economist Paul Krugman discusses the consequences if the deal passes.