Having watched the federal deficity grow to present levels, I am skeptical any deal will be cut to actually address it...Yes we will hear statements about "cutting" spending by billions, maybe trillions of dollars. Like the last series of "cuts" we will find out later they are not real.
We either need a total overhaul of the way we live, or just keep going as is and let the marketplace right the ship through default, higher interest rates and hyperinflation. We have been so used to getting what we want with no apparent consequence, I cannot imagine the public or its elected leaders accepting major changes.
Just listen to the class warfare rhetoric. These are not people interested in change no matter how much we may hope. The "mini deal" until after the 2012 election is just more of same.
Republicans Might Accept ‘Mini’ Deal on Debt Ceiling, Senate’s Cornyn Says - Bloomberg