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tsunami of smart leadership?

DO YOU FEEL IT? That wave of euphoria and relief that rolled out of Washington D.C. like a tsunami of smart leadership?

No? Neither did we. We're not sure anyone did.

At best, the debt ceiling deal is the equivalent of hitting the snooze button on the alarm clock. At worst, this entire saga has shown us that our national political leadership is fundamentally incapable of, well, the leadership required to meet the fundamental challenges we face.

The fact is there was no good plan -- on the table or off. There's no such thing as a 'return to normal' where the good old American economy will kick into gear and throw off centuries of debt through the increased consumption of non-renewable resources. Memo to Obama, Boehner and the rest of the greasy palms: It's time to stop reading Keynes or Milton Friedman and start reading, well, things like this: Debt Tantrum on a Sinking Ship and The End of Growth.