So let me see if I get this right. If I understand the new budget deal correctly, the Republicans got the spending cuts they wanted without any tax increases, and all Obama got was an increase in the debt limit large enough that it won’t need to be raised again until 2013. (I’m ignoring the 12-member “super-congress” that will make future proposals for balancing the budget because who knows what they’ll do, if anything.)
The key here is that the next debt-ceiling crisis will come after the next election. In other words, Obama gave lip service to wanting new revenue for the good of the country, but when it came down to the wire, he gave it all up in return for a chance at avoiding a big fight while he was running for re-election. He sold out everybody else in return for personal gain.