The details are still filtering out but it looks like the "deal" that Obama has made is total capitulation to the Republicans. No taxes of any kind, cuts in Medicaid, an additional vote where the Republican's get to vote against raising the debt ceiling again, and a "Super Committee" that will figure out how to cut $1.2 trillion or there would be automatic cuts, half to defense and half to domestic programs (though not Medicare of Social Security).
The Chair of the Congressional Black Caucus call it "a sugar coated Satan sandwich." The House Progressive Caucus has also rejected the deal. Even Nancy Pelosi does not seem so hot on saying "I look forward to reviewing the legislation with my caucus to see what level of support we can provide." Not exactly a ringing endorsement. Given all that it will be interesting to see if this can get through the House. Boehner says that nothing in the deal "violates our [Republican] principles" the determination of the Tea Baggers to say no should not be underestimated so it will be interesting to see if the votes are really there. Tea Party leader Rep. Joe Walsh has already said he won't vote for it.
Once again Obama has shown his total lack of spine or conviction and complete incompetence as a negotiator. Just as he insisted in December that the tax cuts for the rich would not be continued, that he would close Guantanamo, and fight for a public option he had insisted that tax increases had to be part of a debt limit deal. I've never been a dead ender but right this minute I'm not sure I could bring myself to pull the lever for him.