The Bush tax cuts were a budget busting irresponsible "temporary" experiment in 2001, and the passage of time has only proven them more of a failure. Obama essentially made that failed temporary experiment permanent except for the top 1%. Now the only way to fix the budget mess is (1) raise taxes, which will absolutely never happen or (2) bloodletting on the expenditure side. Plus the half-assed solution reached guarantees continual mini-cliff crisises for the foreseeable future, and the real drag this foolishness puts on a recovering economy.
At best, what just happened was a squandered opportunity-the Democrats gave up their trump card and got essentially nothing for them or the country in return. Excuse me if I don't join in the celebration.