Opinion courtesy of Owl-Eye Pundit, who observes:
From hotair.com today: http://hotair.com/archives/2011/07/18/breaking-white-house-threatens-veto-of-cut-cap-and-balance-bill/
The bill combines a debt ceiling increase with the procedural caps and the Balanced Budget Amendment (Full text: http://www.govtrack.us/congress/billtext.xpd?bill=h112-2560).
Ed Morrissey concludes that the GOP has won by forcing Obama to declare that he will not sign a bill that includes the Balanced Budget Amendment. Actually, he thinks it goes beyond that, and I'm inclined to agree with him. Not that it will do much good, but I'm going to call Pallone's office and tell him I want him to support it.