Compromising the future

Like many I breathed a sigh of relief when I heard yesterday that politicians in the USA seem to have reached an agreement that will prevent the government defaulting on their loans. A previous post Ideological idolatry considered some of the roots of the political impasse. However, my relief may be short lived. An opinion piece The President Surrenders by Paul Krugman paints a bleak picture of what the agreement means for economic and political stability.