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Stimulus Expected to Clear Senate Tuesday

By Shailagh Murray
Senate Democratic leaders announced today a procedural vote at 5:30 p.m. Monday to clear a path to passing the economic stimulus bill. Assuming 60 senators vote yes in that vote, a final Senate vote on the package will be held at noon Tuesday, the lawmakers said.

After the Senate approves a stimulus bill, negotiations on a compromise package to send to the president will begin with the House. Although the two versions of the bill have similar price tags, both in the $820 billion range, the contents vary significantly. The Senate bill has many more tax cuts, while the House is pushing substantial spending increases in education, energy and health care programs.

Congress has set a Feb. 13 deadline for completing the bill, but lawmakers predict negotiations will spill into next weekend and possibly into the following week, when lawmakers are scheduled to take a recess.

By Paul Volpe  |  February 7, 2009; 12:19 PM ET
 
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Comments

I am tired of seeing Washington politicians fall for the same fallacies over and over again.

Tax cuts! We have Nobel Prize winners in Economics telling us that tax cuts DO NOT, I repeat, DO NOT stimulate the economy! So why are people still repeating that lie? Why are people falling for it?

Macroeconomics 101: the health of the economy is determined by the available money supply, which in turn is very nearly dictated by the "C+I+G schedule" i.e. the sum of C=consumer spending, I=capital investment and G=government spending.

Obviously under today's circumstances, we cannot expect C or I to rise, so we have no choice: we must raise G. This means NO tax cuts, unless you want bigger Federal deficits.

Real economists have known this since Keynes published his General Theory in 1936. It is rabid ideologues and far right sycophants who continue to deny this.

You don't have to take my word for it. You can take the word of a Nobel Prize winning economist, who explains it all very well at http://www.nytimes.com/2009/02/06/opinion/06krugman.html?_r=1&em

One things emerges crystal clear: we NEED this stimulus and we need it IMMEDIATELY. Partisan wrangling is threatening the whole country with mass unemployment for YEARS.

Posted by: Syllogizer | February 7, 2009 6:39 PM | Report abuse

Question - If the stimulus plan gets the 60 votes for cloture and passes the Senate it then goes to a Conference Committee with House members for final bill which both houses must pass. Question - Does the final compromise bill from Conference also need a 60 vote in the Senate? Or can it come up under different rules where a simple majority of the Senate is enough?

Posted by: abowers1 | February 8, 2009 4:17 PM | Report abuse

Please do not allow the DEA, FAA, US State Dept and US Embassy in Cassablanca to kill an innocent 67 year old of ill health man. Go to SAVEJAMESWILLSON.COM to see James's story. Contact Marilyn Willson to find out and get documents to prove how the DEA used James as a mule to cover up there DRUG ACTIVITIES AND HOW FAA HAS ASSITED WITH ALLOWING DOCUMENTS TO BE FALSIFIED. ALSO SEE HOW THE US STATE DEPT AND US EMBASSY IN CASSABLANCA ARE ALLOWING THIS TO HAPPEN. Even Morocco has stated they have Violated James Willson's Consitutional and Legal Rigths beside discriminating against him and torturing him because the US does nothing. Please James doesn't have long to live. Help him home to his wife of 46 years and his children, grandchildren and family and friends Contact Marilyn Willson at 847-436-6707 or willsonmarilyn@yahoo.com

Posted by: WILLSONMARILYN | February 8, 2009 4:39 PM | Report abuse

CALL FOR BOYCOTT!

These three RINOs ( Collins & Snowe from Maine and Specter from Pennsylvania ) plus C. Dodd from CT and B. Frank from MA are all entrenched and must go!
They don't listen to the voters and have the system rigged to keep getting re-elected.
Well, MONEY TALKS and especially in this poor economic time. All five (5) come from States that are heavily dependent on tourist $$$.
A BOYCOTT IS NEEDED to dislodge these people!
Write to their State Governors and demand that these people and their Staffs be thrown out of office.
If they are not then you will boycott their State.
NO TOURIST DOLLARS UNTIL THEY'RE GONE!

Spread the word!

Posted by: doityourselfweathercom | February 8, 2009 5:29 PM | Report abuse

The state stabilization funding and the school construction funding that the "centrists" cut from the bill would be immediately, strongly stimulative to local economies- allowing school districts across the country to both save and create jobs, immediately. These cuts must be restored in the final version.

Also, the wasteful and non-stimulative tax cuts that the Senate "centrists" put in should be removed. Tax cuts don't work. We need investment in jobs and infrastructure, not more tax cuts.

Posted by: ruthadkins | February 9, 2009 9:52 AM | Report abuse

Tax Cuts do work!!! If they're given to the right people. The lower middle income people will spend the amounts they get, maybe the wealthy won't, so don't give tsx cuts to those making over $ 125,000. Pass a tax bill taxing over $ 2,000,000 per year at 100%, therefore freezing maximum earned income at $ 2,000,000. No one is worth more than that.

People tend to spend everything they receive anyway, as our savings rates indicate. The people will put the money in circulation immediately, and the bureaucrats can't steal it, or pass it on to their buddies in fake contracts like the FEMA fiasco after New Orleans, or the contracts issued to private contractors in Iraq!

TAX CUTS FOR IMMEDIATE ACTION ARE THE ANSWER.

It would be better to issue every citizen a chit for $ 5,000 or so much per family than these ridiculous provisions for the government to control the issuance of contracts and handouts. Both the Democrats and Republicans want to use these deals to buy votes and influence.

We supposedly have a government of, for, and by the people. Unfortunately, out system has been twisted into a government of the best money can buy. Lobbyists and incombents have stolen our freedom, and we, the people, have sold our birthright for a bowl of porridge.

We have become soft, shallow, and lazy as a people.

Posted by: bmetler | February 9, 2009 10:39 AM | Report abuse

Democrats in Congress should not allow themselves to be bullied by the minority, the Republicans who got us into this mess in the first place. The Republicans insist on getting their way and wiping out aid to state and local governments, school construction, Head Start funding, etc, and turn the Obama economic plan into little more than another round of the same old Bush-style tax cuts--which was pretty much the main reason for our present financial chaos in the first place. Washington in general, including Democratic doormats, appears to have lost sight of the problem screaming for resolution. And on the obstructionism we have old "I reach across the aisle" John McCain whining about piling debt on our grandchildren--while he himself aided and abetted all the way the madcap spending during the Bush monarchy. Our federal debt increased from $5.6 trillion in Sept. 2000 the $10.7 trillion we have today (check it on the Internet) thanks to Bush, McCain and their cronies. My mind cannot grasp how a construction projects, including schools, would fail to immediately create jobs and get money into circulation throughout communities in numerous ways. Futile tax cuts just won't feed the bulldog.

Posted by: TomCamfield | February 9, 2009 12:58 PM | Report abuse

thanks for the comments i hope and pray that the democrats take charge it is good to have support from the opposing party but we all know what their line is why do the riches people always yell foul when they can afford to pay a little more if yiou make 5 million why would you not want to pay 1 they have more money than they can spend in three life times this is so crazy and selfish why would you cut education health and programs that he know will benefit the people who will spend the money imediately the replublicans will destroy our country they have almost been successful call your senator and congress person and tell them what your needs are do not allow the radio talk show to dictate policy we are in a bad state of affairs and i trust obama and his team to at least stop the bleeding then work on the healing

Posted by: Jeanise55 | February 9, 2009 1:59 PM | Report abuse

Que ce soit 820, 810, 800, 790, ou 780 milliards, en cash, en deductions d'impots ou en photos dedicacees de Barack, le reste du monde s'en fout. On attend juste que la machine economique reparte. Et cela ne depend que de vous. Merci donc de speeder, parce qu'il y a urgence.

Posted by: Lustukru | February 9, 2009 2:25 PM | Report abuse

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