Hidden Thorns in CBO's Rosy Deficit Report

President Barack Obama, sensing another "self-inflicted" wound in the making, askedCongress today to consider passing a small package of spending and tax changes to avert deep and "indiscriminate" budget cuts slated to kick in March 1.

It's no secret that lawmakers will be unable to agree quickly (if ever) on a budget deal as they try to bridge an ideological divide over spending and tax policy. A budget agreement will require the kind of "grand bargain" discussions Congress has all-too-eagerly kicked down the road, and there's no reason to think this time will be different.