It contained what he & Boehner had said from the beginning they wanted...no tax hikes and cuts equal to the amount of debt hike.
Don't know if you knew that's what he said he wanted from the beginning.
The only real thing in that bill was a hike in the debt limit. Everything else is a promise of future goodies.
Obama will spend the money in ways to insure his re-election, and Boehner and company will be spending the campaign season arguing about what austerity measures have to happen to pay for that spending. Can you say "Speaker of the House Pelosi" once again?
It's the campaign off-season where you need to do the hard stuff. This was the time to let the SHTF, as by Nov 2012, the smoke would have cleared. Let's call 2011 the year of Boehner's Boner of a Bill.