This seems to be a reasonable solution to the option of do nothing. If Congress does nothing in the next couple of weeks, we will have just allowed things to be worse in the long run, but that isn't really different than if they do something stupid. Force the Democrats to accept Simpson-Bowles and own the result, vice allowing them to pin failed policy on the Republicans which they are lining up to do right now. They have zero plans for compromise and they are going to paper the Republicans as out of touch and unyielding regardless of the outcome.
So pass Simpson-Bowles put them on the defensive if they can't pass it as well. The American people want change in the way Washington is run, while still getting the goodies, so show that we are willing to agree to Simpson-Bowles. How are they going to argue that it isn't fair and that we didn't cut enough defense? They can try, but at 21% spending and revenue it is going to be hard to say that things aren't fair.
Will it fix things? No, we are still going to crash and burn because we will never collect the 21% GDP in revenue and real spending will never be cut by the Democrats. But they will have to explain to the people why the economy is crashing and burning with higher taxes and more government. The burden will be all on them to show how taxing and spending is/was a good thing for the middle class. They won and now they will own the train wreck if we allow them to conduct. It seems crazy to advocate for failure, but that is all that is left to us at this time.
We tried and failed to use reason, now it is time to bring on the pain. Welcome to the new America of socialism and chains.