Last night, Stephen Colbert introduced an apt metaphor for explaining the recent history of the debt deal: the story of Billy Goat's Gruff. Obama is the troll guarding the bridge. Three goats approach. The first, smallest goat wanted to cross in December 2010, bringing with it an extension of the Bush-era tax cuts; the troll let him pass. In the spring, the second goat arrived, threatening to shut down the government; he, too, was allowed to pass. The third, and largest, goat showed up this summer, and what happened? Watch below to find out.
Jon Stewart returned from the weekend to news that a debt deal had been reached. He was puzzled, though, that nobody was talking about the new revenues that (surely) must have been part of deal. Watch Stewart rail against Obama over this "turd" of a deal.