After weeks of threats, rumors, uproar and what passes for wisdom in Washington a debt ceiling deal seems to be on the horizon. This is a victory for the GOP and for America, though some may quibble that that the GOP gave away too much in the deal.

But what is important to keep in mind that Barack Obama and his agenda suffered a setback. After challenging Eric Cantor not to call his bluff regarding Obama's plan to raise taxes, after "going to the people" and twittering them to pressure their congressmen to accept the need to raise taxes, Barack Obama has been dealt a humiliating setback: he has to eat crow as the deal has no provision providing for increased taxes (or "revenue" as Obama characterizes our money). The emperor had no clothes; he could be challenged and beaten; and he is a lousy poker player.

What led to Obama's about face and craven collapse?

What does he care about most in the world?

Himself.

And what did he see this week that punctured his ego and cut through the entourage of yes men and worshippers that surround him?

Maybe the results of this week's Gallup poll that showed a plunge in his approval rating to 40% - a new low. Granted some people have problems with the accuracy of the Gallup numbers but their disclosure added to the perception given by other polls that people just do not see him as being up to the job.

Few have come out of this imbroglio with flying colors. But Obama's inability to lead was again highlighted. The fact that the House GOP basically gave up dealing with him because he was unreliable, tried to pull fast one involving increased taxes, used leaks to portray himself as being reasonable and ready, gave America further reasons to doubt Barack Obama's leadership ability. GOP leaders do not respect him - and increasingly neither do the American people.

His potential Republican opponents in 2012 kept a low profile. Some people may have had a problem with their silence. But why stop a man from immolating himself and give the media reason to turn their spotlight on someone other than Obama and his failing leadership?

Obama needed the deal to salvage his 2012 prospects. He needed a deal and he needed to put this behind him.

Where is the left going to go even as they decry his "sellout " on taxes?

Ralph Nader?