By definition, no compromise is perfect. Given the circumstances, the question facing members of Congress is not even whether or not the compromise struck by negotiators is so bad that they cannot support it. The question is whether or not the agreement would be worse than a government default. That is an easy question to answer.
The worst part of the deal is obvious: It requires no new taxes and it closes no existing tax loopholes. It is a scandal that the wealthiest pay less of a percentage of their income than the middle class. It is a scandal that the right-wing mantra about “job-killing tax increases” has been accepted as Gospel when, in fact, budget cuts will have a worse immediate effect on the economy and jobs than would a tax cut. Money that goes to the poor through government social programs is guaranteed to be spent. A tax cut may be spent, but it might not: As we know, corporations are currently sitting on huge mountains of cash. As I have argued before, if tax cuts resulted in job growth, the last ten years would have seen full employment. They did not.