Wednesday, January 28, 2009

Stimulus Bill Passes the House: $819 Billion Final Tally

Now that is a lot of money but it seems that the Senate Bill may be much more palatable to GOP members.

Already a more bipartisan — and costlier — measure is taking shape in the Senate, and Obama personally pledged to House and Senate Republicans in closed-door meetings on Tuesday that he is ready to accept modifications as the legislation advances.

Rahm Emanuel, a former Illinois congressman who is Obama's chief of staff, invited nearly a dozen House Republicans to the White House late Tuesday for what one participant said was a soft sales job.

If there are no business tax cuts in this thing then I think it will just be a half-measure that won't prevent businesses from shedding yet more workers. It seems that the FED is working on the mortage side and the Congress is working on juicing the supply side. Let's hope John Maynard Keynes is right because $819 billion is quite a price to pay to be wrong.

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