Debt Ceiling Compromise SOLUTION???

I gather that the Congressional "Leadership" and the administration have cobbled together a "compromise" that will "solve" our problems. The Congressional Budget Office (CBO) estimates that this "compromise" solution will reduce the deficit by $917 billion—OVER THE NEXT TEN YEARS!

In exchange, it will let the President have a $900 billion increase in the debt ceiling—right away!

This plan will reduce the Fiscal Year 2012 budget deficit by a whole $22 billion—in what’s expected to be an over ONE TRILLION DOLLAR DEFICIT!!!

That is, frankly, insulting, especially in light of the fact that at least three secondary ratings agencies have ALREADY DOWNGRADED THE US CREDIT RATING!

All three agencies cited our massive level of debt, and skepticism that the U.S. government can ever control its spendthrift ways, as reasons for their actions.

For example, the Egan-Jones Ratings Company, which enjoys the same level of recognition from the Securities and Exchange Commission as S&P or Moody’s, lowered its rating of U.S. debt from AAA to AA+ two weeks ago.

Weiss Ratings of Jupiter, Florida already had the U.S. government at a “fair” rating of “C.” Weiss knocked the United States down to C-minus last week, which I understand is “the Standard & Poor’s equivalent of one notch above ‘junk’ status.” That’s just wonderful! And why did Weiss do this? This is their reason: "OUR DOWNGRADE TODAY IS NOT CONTINGENT ON THE OUTCOME OF THE DEBT CEILING DEBATE IN WASHINGTON. (Emphasis mine) It is driven exclusively by the numbers, which indicate that, in addition to a decline in the long-standing weaknesses we noted three months ago, the U.S. has already lost the golden halo that helped guarantee liquidity and acceptance of its government securities in global markets."

The third rating agency is Chinese, Dagong Global Credit Rating. They fret about “the slowdown of growth, the high financial deficits, and rising debt dependency,” which jeopardize America’s “actual ability and intention to repay its debts.”

I thought the "Cut, Cap and Balance" debt ceiling and balanced-budget plan which left the House recently and which was tabled in the Senate was too little, too late, but anyone who votes for this abomination that has been crafted by our national "leadership" obviously DOES NOT HAVE THE LONG-TERM BEST INTERESTS OF THE UNITED STATES UPPERMOST IN THEIR MINDS!