A Steal at Only $789 Billion


Reuters brings word that the House and Senate have settled on a measly $789 billion to rock our economy like a hurricaine:

U.S. lawmakers reached a compromise deal on Wednesday on a $789 billion package of tax cuts and spending to rescue the ailing economy and votes could begin as early as Thursday, meeting President Barack Obama's goal.

Harry Reid, leader of the majority Democrats in the Senate, said some 3.5 million jobs would be created under the package and that more than one-third of it would be dedicated to tax cuts and incentives for middle-class Americans.

He did not reveal specific details of the compromise, which pulled together separate stimulus bills passed by the Senate and House of Representatives.

Earlier today, Reason.com asked leading economists to sound off on the Senate stimulus plan. And yesterday, Mercatus Center economist Veronique de Rugy offered 800 billion reasons to worry about the stimulus package.