(CBS/AP) The Senate has approved the $838 billion stimulus bill, which has solid Democratic support but is backed by only three Senate Republicans.
"That's good news," President Obama said of passage when told about it during a town hall meeting in Fort Myers, Fla.
But he also noted: "We've still got a little more work to do."
The bill now faces what could be contentious negotiations with the House, which passed a different version of the legislation, one that includes fewer taxes and more spending than the Senate version.
Majority Leader Harry Reid, D-Nev., vowed to send a finished bill to Mr. Obama's desk "as soon as possible."
Just three Republicans helped pass the plan on a 61-37 vote and they're already signaling they'll play hardball to preserve more than $108 billion in spending cuts made last week in Senate dealmaking. Mr. Obama wants to restore cuts in funds for school construction jobs and help for cash-starved states.
Those cuts are among the major differences between the $819 billion House version of Mr. Obama's plan and a Senate bill costing $838 billion. Mr. Obama has warned of a deepening economic crisis if Congress fails to act. He wants a bill completed by the weekend. - CBS News
If you think this is it, fasten your seat belts folks. This bill will only go up as the Senate and House reconcile their bills. I fully expect this bill to tip the scales somewhere around the $900 Billion area. I am looking for a song writer to put together the anthem for the Democrats. Spend, spend spend, when your out of money spend some more.
For all of those who think this is a good thing, don't forget about the other Trillions the Treasury Sec. was talking about earlier. Hey but look, the Stock Market is crashing on such good news. You gotta give it to them, they are definitely making a splach.
No comments:
Post a Comment