>Mine is a more appropriate title. ;)
>
>By a 74-to-26 vote, the Senate approved legislation that would increase the $14.3 trillion debt limit by up to $2.4 trillion in two stages and, by the Congressional Budget Office’s tally, reduce deficits by $2.1 trillion over a decade. Even with the cuts, however, the U.S. is projected to increase the national debt by $7 trillion or more over the same span.
>
>http://www.marketwatch.com/story/senate-approves-debt-ceiling-increase-bill-2011-08-02?link=MW_latest_news

As I'm sure an astute financial guy like you realizes, the new cost is not $7 billion but the interest on $7 billion.

Paul Krugman lambasted both the deal and President Obama in his column the other day. I have cited Krugman to defend my views so it's only fair to cite him when he writes things I don't like. Sad to say, I agree with him here, especially the part about Obama reliably folding. There was another article somewhere today (cnn.com?) asserting that Obama could have easily gotten a better deal than he did. Even members of the Tea Party Caucus, who all said they would not support an agreement like the one enacted, split about evenly, something like 30-28. I really wish he would develop some giant clanging balls and stop caring so much how well liked he is.

http://www.nytimes.com/2011/08/01/opinion/the-president-surrenders-on-debt-ceiling.html?_r=1&ref=paulkrugman