Statesman: Deal Does Only 1 Thing

The debt-increasing and deficit-cutting deal would accomplish one purpose: It would stave off a first-ever federal default. It would spare an already shaky economy the immediate and damaging effects of default: increased consumer interest rates, delayed payments to federal beneficiaries and/or government contractors. Announced Sunday night, two days before the possible default date, the White House and congressional leaders cut a desperation deal that beats the alternative. Faint praise defined. But important nonetheless. Still, that’s about as far as things go/ Kevin Richert , Idaho Statesman Editorial Board. More here.

Question: Do you agree with the Idaho Statesman that the debt-increasing/deficit-cutting deal accomplishes only one purpose, preventing federal default? Or was it more/less than that?