This would be miraculous if it happens

The Simpson Bowles plan was rational and reasonable and ignored by the man who requested it.  If all of the debt limit chicken results in it being passed then I will take everything I've said about commissions back.

From the description in the Times, it looks as though both sides are returning to the imperfect but still valuable Simpson-Bowles approach. Combining tax reform with real and immediate cuts and entitlement restructuring is the package most likely to garner the bipartisan support needed to pass. If that becomes the basis of an eventual deal, though, it will be worth pointing out that we could have had it in February and avoided all of the market uncertainty had Obama not completely ignored his own commission on the subject.