The Economic Recovery Package: A Doable Deal

Today the focus is money, money, money!
TODAY: After filibuster squelched in Senate, final econ recovery vote NOON ET, House-Senate conf follows. Treasury announcement on financial bailout 11 AM ET. Presidential town hall in Florida NOON ET.

TOMORROW: Thinking Big Conference featuring Paul Krugman, more below.

Rapid compromise?

Bloomberg on House-Senate econ recovery negotiations: "'I’m confident that we can get it done by Friday,' said Senate Majority Leader Harry Reid..."

Depsite moderate posturing, Senate bill has larger price tag than $819B House bill. W. Post: "A report from the Congressional Budget Office, issued as the Senate was voting last evening, produced a new cost estimate for that chamber's legislation, increasing it from $827 billion to $838 billion. Almost all of the increase was due to an amendment, offered by Sen. Christopher J. Dodd (D-Conn.) and accepted unanimously last week, that limits bonuses to the top 25 executives at firms and corporations that receive assistance from the $700 billion financial plan. The Dodd provision means that the Treasury will take in less tax revenue because of the slashed bonus structures, according to the CBO."

USAction/TrueMajority launches new web ad campaign knocking obstructionist conservatives:

Bloomberg: "Economists who support legislation to stimulate growth say the version passed in the House of Representatives would create at least half a million more jobs than the bill the Senate votes on today."

Economist James Galbraith interviewed by Air America's Ron Reagan Jr., says Senate moderates "took a pretty good bill [from the House] and made it substantially worse."

Juan Cole slaps NBC's Chuck Todd for, in his question to the President, blaming the recession on consumer spending.

Bill Scher is the executive editor of and the online writer/editor for Campaign for America's Future. He is the author of Wait! Don't Move To Canada!: A Stay-and-Fight Strategy to Win Back America, a weekly contributor to Air America Radio's The Sam Seder Show and a fellow at the Commonweal Institute.
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