What Digby Said.
The President has promised a "grand bargain" on Social Security, Medicare, and Medicaid after the election—he said so in the debate. Pete Peterson and the billionaires for austerity are putting on a full-court press press (sic.)
What do these people think they are doing? If this goes through it's going to fail, it's going to fail in the same way it is failing in Europe, and it's going to leave no country except possibly China standing. This is insane, even for the very wealthy.
With luck, it will all come apart. This is electoral poison, even for the absurdly entitled Senate. My guess is that Social Security will stand, Medicare will get some cuts, and Medicaid is going to get very badly hurt.
[edited a few days after posting.]