This is the lowest moment of Obama’s presidency. It makes Bill Clinton signing of the welfare reform bill of 1996 look like the founding of the Peace Corps. Even the things he supposedly got out of this deal could vaporize. Defense cuts on par with domestic cuts? After the military contractors’ lobbyists get to work? I’ll believe that when I see it. Of course Obama did get one concession: no second debt-ceiling vote until 2013. By which time, if he doesn’t fundamentally change his way of doing business, he may very well be in retirement.