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Ear to the Ground

Reid Announces Stimulus Agreement

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Posted on Feb 11, 2009
Reid
The New York Times / Susan Etheridge

Senate Majority Leader Harry Reid says the $789 billion version agreed upon Wednesday “creates more jobs than the original Senate bill and spends less than the original House bill.”

Senate Majority Leader Harry Reid announced Wednesday afternoon that congressional leaders have finally agreed on a $789 billion economic stimulus package, pushing the plan to a final House and Senate vote by Friday at the earliest.

L.A. Times:

Congressional negotiators are closing in on a final version of a sweeping economic recovery package, and the bill could be voted on by both the House and Senate by Friday.

Multiple sources have confirmed that the new plan is budgeted at $789 billion, a figure smaller than in the bill that emerged from the House last month and the one approved by the Senate on Tuesday.

It appears that House Democrats have succeeded in restoring some funds that were stripped out by a group of Senate moderates last week, including $44 billion in aid to struggling state governments and $6 billion for school construction and modernization. Both line items were important to the White House.

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By WMark, February 13, 2009 at 4:48 pm Link to this comment

I agree with parts of everyone’s comments. This entire stimulus plan is a sham.  Yes, many Americans ARE against it, and for good reasons;
- govt stimulus has never worked - Keynesian economics was thrown out years ago.
- only 5 pct proported to go to infrastructure projects
- too much of the spending occurs in 2010-2011
- the entire package has been built behind closed doors. Not one Senator has even read the bill, and nobody is doing a good job of explaining why the money is being spent on “programs” and not going into the pockets of working people.

Nevertheless, Congress will pass it without Republican votes, and Obama will sign it and try to tell us what a great victory it was. Now y’all go buy yourself a new house!

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By Aegrus, February 11, 2009 at 5:18 pm Link to this comment

This is just dipping toes in the water. Our Nation’s reality is much deeper. Consumer confidence isn’t going to fix our economic structure. Obama and his administration better come up with more than band-aid fixes like this to carry us into the future.

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By artie, February 11, 2009 at 3:43 pm Link to this comment
(Unregistered commenter)

The bankers, swindlers all,and some of them stupid, such as Ken Lewis, postured for the masses, knowing well that nothing will be done to punish these guilty shysters, but instead more rewards/payoffs will be given and charged to the taxpayers.Congress knows well where its’ bribes come from - Wall Street and bank ceos..

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By Hulk2008, February 11, 2009 at 3:23 pm Link to this comment

Regardless of any final vote, its effects will probably be DOA.  Every talking head on TV or radio and the entire GOP have lined up against each and every item.  The GOP twists every iota to fit their comeback requirements in the mid-terms.  The media twist each nuance to present pseudo-shocking “breaking news”.  (Consider the so-called Breaking News that A-Rod used a controlled substance:  is it really “new” that a game player used drugs back 6 years ago in 2003 ?)  The public will be arm-twisted into rejecting the stimulus program even before the conference committee puts together a compromise.  You could see the overall public reaction in Joe Scarborough’s morning tirade today.

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