Deficit Battle Shifts to Panel

At WSJ:

WASHINGTON—The Senate approved—and President Barack Obama immediately signed—the long-awaited deal to raise the nation's debt limit Tuesday, as the battle shifted to how a special committee created by the measure will cut the deficit by $1.5 trillion.

The Senate voted 74-26 for the package, which raises the government's borrowing limit by $2.4 trillion and cuts $917 billion in federal spending. A fiery debate is likely over the next step, the bipartisan panel, and how much of its $1.5 trillion in deficit reductions will come from tax increases and how much from cuts in safety-net programs.

Meanwhile, Democrats in particular were eager to move beyond the debt-limit fight and tackle the issue of jobs, which they consider friendlier political turf. Mr. Obama signed the bill in private but used his public comments to try to shift the focus to the economy.

The president could send a stronger signal of defeat than a private bill-signing. Jimmy Carter is smiling somewhere.