We shall see,....
No, I think this is brilliant. They have Obama boxed into the corner.
1) he cannot say the Republicans are obstructing the deal because he controls the spending
2) he has to submit cuts to get the spending approved
3) he totally owns when and the amount that the debt limit gets increased
4) there is no discussion of tax increases
5) if Obama refuses it, the responsibility is his if default happens
Let’s see how this plays out, my gut reaction is that this might be a very good chess move.