Thursday, February 5, 2009

Debate on Stimulus Bill Fast and Furious

A Senate vote on the massive bill could come this week. This CQ article provides the latest on the back and forth debates. Most interesting excerpt might be this one:

“These decisions are not easy,” [Senator Sue] Collins [from Maine] said. “People’s definition of what is stimulus varies widely.”
Collins said she told President Obama on Wednesday that she wanted a bill with a pricetag of $650 billion, but he said that was too small to sufficiently boost the economy and that he did not want to go below $800 billion. She said Obama convinced her that more than $650 billion will be needed."

Regardless of your politics, it is remarkable that any $650 billion bill is ever considered "too small", however perhaps even more remarkable is the fact that the same argument was made not so long ago to pass a $750 billion bailout bill.

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