Not Bad, But How Much Will He Bargain Away?

Krugman nails it:

Overall, way better than the rumors and trial balloons. I can live with this. And whatever the pundits may say, it was much, much more serious than the Ryan “plan”.

Update: I should probably say, I could live with this as an end result. If this becomes the left pole, and the center is halfway between this and Ryan, then no — better to pursue the zero option of just doing nothing and letting the Bush tax cuts as a whole expire.

Transcript here.

Then read Scott Lemieux on You Can't Make a Deficit Deal With People Who Don't Care About the Deficit.