wrong, congress has it wrong, and you'll tell us what we should do instead. finally, we will turn to my good friend, bill frenzel. for those under the age of 60 might not be as familiar with bill frenzel that he was in congress for 20 years, a ranking member of the budget committee for several terms, and knows as much about the budget as anyone i have encountered. is a guest scholar at brookings. he is quite to talk about the politics of the budget -- he is going to talk about the politics of the budget deal. let me say a few things about the agreement. it is helpful to think about it in three distinct parts. it raises the debt ceiling, which was the point of the whole thing. in the history of the country, all of these agreements raise the debt ceiling. this time, which two other things -- if we reduce the deficit, crucial, and by far the most complicated, and an third we agreed to have a vote on a