The President Surrenders on Debt Ceiling | Paul krugman (NYTimes.com)
►http://www.nytimes.com/2011/08/01/opinion/the-president-surrenders-on-debt-ceiling.html?src=ISMR_AP_LO_MST_FB
A deal to raise the federal debt ceiling is in the works. If it goes through, many commentators will declare that disaster was avoided. But they will be wrong.