Daniel Mitchell’s assessment seems right to me —
Compared to ideal policy, the deal announced last night between congressional Republicans and President Obama is terrible.
Compared to what I expected to happen, the deal announced last night is pretty good.
In other words, grading this package depends on your benchmark. This is why reaction has been all over the map, featuring dour assessments from people like Pejman Yousefzadeh and cheerful analysis from folks such as Jennifer Rubin.
With apologies to Clint Eastwood, let’s review the good, the bad, and the ugly….
Via The Good, the Bad, and the Ugly of the Tax Deal | Cato @ Liberty.