The president gets extorted -- and likes it

One of my favorite columnists, the esteemed Paul Krugman from the New York Times, nailed it on the head -- this debt ceiling agreement was blackmail, pure and simple. And Obama fell for it.

In fact, Republicans will surely be emboldened by the way Mr. Obama keeps folding in the face of their threats. He surrendered last December, extending all the Bush tax cuts; he surrendered in the spring when they threatened to shut down the government; and he has now surrendered on a grand scale to raw extortion over the debt ceiling. Maybe it’s just me, but I see a pattern here.

Read the full post here.