The White House says:
Office of the Press Secretary
FOR IMMEDIATE RELEASE
July 31, 2011
BIPARTISAN DEBT DEAL: A WIN FOR THE ECONOMY AND BUDGET DISCIPLINE
The debt deal announced today is a victory for bipartisan compromise, for the economy and for the American people…
No. It is a loss for the American people: it is not the way that they want to reduce the long-term deficit. It is certainly not a win for bipartisan compromise.
And it is not a win for the economy.
It is better than default would be--but default was never in the cards, at least not with lawyers at the president's disposal 10% as inventive as those who claim that we are not engaged in "hostilities" in Libya.