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Remember: To the Republicans and their tea-party core, this was a huge defeat, a mugging, with hoary octogenarians hovering over the corpses of the gallant Tax Fighters digging in to defeat Big Government.
|Grover Norquist says a $billion tax increase really isn't. Right.|
Liberals wanted more revenue, conservatives wanted real entitlement cuts, and in the end conservatives held the tax increases to a minimum, while liberals shielded entitlements from any cuts at all. And deficit reduction? Again, against GDP, almost nothing.
|Dennis Hastert: forgettable Speaker, now even more forgotten.|
So, on a political basis, liberals won. The Norquist tax pledge is dead, and the Hastert Rule (bills in the House must pass with a majority of the majority party voting yes) is also dead, with entitlements intact. In the end, sound and fury, signifying nothing.
Of course, the coda is waiting to be played: Can the Republicans turn the debt ceiling into Armageddon? We'll see.
|The coming debt ceiling debate.|