Okay, that’s not true. Peter Peterson has not promised to give up anything, but he will stand to gain tens of millions, perhaps hundreds of millions of dollars in additional pocket change over the next decade thanks to the Senate Gang of Six’s new tax breaks.

The truly historic importance of what is happen right now can’t be repeated enough. It is a Democratic President who is the driving force now behind cutting Medicare and Social Security. It is a Democratic President who feels that deficit reduction during a recession and keeping tax rates near historic laws are both much more important policy goals than protecting Social Security and Medicare Benefits.

By capping spending and forcing cuts the Gang of Six proposal is short on details but it is long on the chances it will cause a economic depression. It will impose a 2/3 super majority to raise spending, which means that not only would the Recovery Act not have passed, but neither would have the New Deal.

I was one of the 2700 people who pledged to go to the office of their member of congress and let them know that if they support cuts to Social Security or Medicare, we won’t support them in the next election. And moreover, that “supporting cuts” meant voting for the creation of any committee with the power to make recommendations that would be given an up-or-down vote in Congress, bypassing regular procedure (Catfood II).

The Gang of 6 announces they have reached a deal, and the President is praising it.

I’m paraphrasing, but make no mistake — that’s exactly what he said.

Even when someone is on a hunger strike medical care should be given. In fact it is critical that there is regular checks as slowly starving can affect other organs and turn south very quickly. This is not happening for the Pelican Bay hunger strikers.

Today is our National Day of Action! We have 2,500 plus citizen-activists going to visit the local offices of their Representatives. And it is not too late for you to sign up!

Remember that whole thing about the banks using armies of Wal-Mart castoffs and entry-level employees to sign affidavits attesting to the legitimacy of complicated mortgage documents without knowing any of the contents inside? Remember how they took responsibility for that and said they were halting foreclosure operations until they figured things out? Remember how they said they got things under control and would resume foreclosure operations, all legal-like? Remember how they signed consent orders from a federal regulator saying they would overhaul their servicing operations, and how they entered into negotiations with the banks on penalties for the same?

Funny story. They’re still robo-signing.

We may get a deal to avoid default, but only if we allow both Senators and Representatives off the hook for what will be incredibly unpopular votes on future deficit reduction plans. Call it Cat Food Commission II, but the fast track voting provisions amount to an undemocratic accountability avoidance maneuver.