There are at least a couple of ways of looking at the debt crisis resolution.
You could say the same thing people were saying before the agreement was achieved: Things have gone to pieces. In other words, this compromise agreement is just one more thing gone wrong. It doesn't do nearly enough. We're bankrupt in more ways than financial and this toothless bill just shows how far we've fallen.
On the other hand (to echo the famous Randy Travis tune), you could say this is the first step up out of this cesspool of over indulgence we (via our elected representatives) have spent ourselves into. This bill will help seal Obama's defeat and lead to fiscal conservative majorities in both houses; then we can then set about reducing the size of the federal government on a much larger scale.
What's your view? Are you with George Jones (see the video below), or do you see this as a small but significant victory?