JOHN PODHORETZ ON THE SUPERCOMMITTEE: They didn’t fail – they succeeded in doing nothing. “The supercommittee triumphed in accomplishing what it was truly intended to accomplish. It was created to kick the can down the road. The only thing that mattered was that it come into existence, and it did. Its invention made increases in the debt ceiling possible through the end of President Obama’s term.”

UPDATE: Barry Goldwater’s prophecy of disaster has come true.