As usual, Ace gets it:

“Deal” Still Being Negotiated; Seems To Involve A Two-Step Process: First, A Soft Republican Capitulation, Then, A Hard Republican Capitulation

The threat of drastically slashing Defense will cause Republicans to vote for tax increases. Democrats will not identify additional money to be cut, because they don’t want to, and they don’t need to — Republicans will cave, as they have caved since the 2011 budget fight, and will agree to tax increases to avert devastating cuts in Defense.

Here’s what we give up:

1. No Balanced Budget Amendment

2. We agree to a commission that will raise taxes.

3. If we don’t let that commission raise taxes, defense spending is gutted — automatically.

4. The “cuts” represent just a fraction of deficits over the next 10 years.

5. We agree to a massive $2.8 trillion debt ceiling hike.

Here’s what Democrats give up:

1. They have to wait a few weeks before raising taxes.

And that’s about it.

That’s the deal John Boehner and Mitch McConnell agreed to. That’s the deal GOP leadership expects conservatives to embrace. Obama and his Democrats give almost nothing, we give nearly everything. Why? Because Boehner and McConnell are afraid to say “no” to Barack Obama’s face.