Jerry Pournelle writes a very telling post entitled There Won't Be Cuts, courtesy of Kevin at the Smallest Minority over in the side bar.
I am taking a road trip, so won't be around for a few days. But this is what I fear we will end up with. Smoke and mirrors, but no real cuts. Or, and this is a trick I especially like, put the "cuts" in the out years, where Reid and Boehner can not be held accountable for them since no Congress can legally bind a future Congress. The Republicans will say that they need more people in Congress to get something done. Don't fall for it again. This is the same trick they pulled on us in 1994. We gave them more, but they betrayed us at every turn.