Senate passes its stimulus bill
The Senate gave the final approval to its $838 billion stimulus plan this afternoon, with only three Republicans voting in favor.
After the vote, Harry Reid, the top Democrat in the Senate, announced that a conference committee will start meeting this afternoon to negotiate a final version to send to President Obama's desk.
He said the differences are "relatively minor" with the $820 billion House version, which includes more spending and fewer tax cuts.
"One option we do not have is to do nothing," Reid said. "It's been a long, hard struggle to get where we are, but we're here."
Mitch McConnell, the top Republican in the Senate, stood by his guns, telling reporters that the stimulus package is part of an unprecedented government spending spree.
While federal spending as a proportion of the gross economic product has hovered around 20 percent in recent years, it could rise to nearly 40 percent if all the programs are enacted, he said.
McConnell called it the possible "Europeanization of America."
Jon Kyl, the minority whip, said a false choice is being presented between the Democratic bill and no bill at all. He told reporters that Republicans want to respond to the economic crisis, but disagree with much of the spending and dispute Obama's assertion that the bill includes no pork barrel earmarks.
House Speaker Nancy Pelosi said she hopes the conference committee can reach agreement quickly and send the bill to Obama by the end of the week.
"We cannot lose any time," she told reporters on Capitol Hill.
But she also said that House members are "concerned" about some of the differences with the Senate version, which includes more tax cuts and less spending.
Massachusetts Governor Deval Patrick praised the Senate vote.
“Today’s Senate vote brings us closer to answering President Obama’s call to put people back to work by rebuilding our economic foundations," he said in a statement. "This package contains enormous opportunities for Massachusetts – particularly in the areas of infrastructure, education and funding for safety net services – and we will continue to work closely with our partners in Congress and the Administration as the process moves forward.”
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For some reason the term bootstrap comes to mind. Wikipedia that.....
Congrats! You have successfully pulled of the biggest seizure of tax payer dollars to date.....and for what......welfare and Acorn!
I thought we came to this country because we didn't like Europe. Obama should have save us all the "fear mongering" and misery and just moved to France.
Do Republicans get that they lost the election? The ONLY major difference between McCain and Obama besides the superficial ones like abortion, was how to handle the economy. Obama won, the Dems get to do what they want until the Republicans even things back up in the House and Senate in the upcoming elections in 2 and 4 years. Period. End of story.
Yea we get it Republicans. You are trying to get back to your identity of small government, less spending, blah blah blah. Unless the spending is on the military and defense, then when we can bleed the country dry all we want.
well at one point in time about the package came word that taxpayers would get a check out of it as well. now has that all changed?
arg
What a joke. Everyone of them who voted for it should be impeached!
So it passes and Wall St traders don't like it??? INTERCOURSE WALL ST. They're the ones who created this mess so they don't get to cry about it!
Spend in haste regret at leisure.
If there is one thing we should have learned is to not let the president & congress rush to make a decision...where should we have learned this lesson.
TARP... IRAQ...
Nancy Pelosi and her ilk have money problems....they are habitual spenders and will be the cause of the worst depression in US history, They should then be tried for treason and receive just punishment
Oh God, "EUROPEANIZATION"! Because things are so terrible over there.
Grow up, McConnell.
Nancy Pelosi and her ilk have money problems....they are habitual spenders and will be the cause of the worst depression in US history, They should then be tried for treason and receive just punishment
A moment of true clarity for the Senators' from Maine. It's about time they parted from the party line, especially you Senator Collins. You showed that you can actually think on your own and not just vote the way "W" told you to. I wasn't sure you had it in you. Thanks.
i hate to admit it, but Greta Van Susteren made a decent point last night on her show. She said she is afraid that the stimulus plan is too complex to be reversed if it is shown to be inneffective. Instead, there should be a fast-acting plan with things that can be quickly scrapped or changed if need be.
I think this is good news that the senate passed SOMETHING but lets hope it doesn't just clutter up an already innefficient bureacracy and create more wasteful programs that we will be unable to cancel when they are shown to be inneffective.
I really wish someone would boil all of the components of the bill down so that Joe Public would have some idea about what this all means. It's frustrating to feel like I am completely in the dark when it comes to something that is designed to help turn this sinking ship of an economy we're in...
How much did the Replublican's War cost future Americans? How much does the $200 million redo of the capitol grounds cost compare to the total package price, could it only be 2/100 of 1%? Bush's tax rebate was delayed by the democrats complaining about the "bridge to nowhere" . This delay probably was one of the major reasons why Bush's rebate didn't work. When someone's house is on fire, who cares about the color of the waterbuckets? Both the Democrats and Republicans should go with their hearts, not the party line. All this arguing over 2/100 of 1%.! Grow up, Congress!
I am totally confused with the Republican argument of too high spending. At least most of the spending will be in the US and not spent in Iraq. No one seems to talk about the huge amounts the Republicans spent by twisting Democrats arms, lying to them and us. And were is the first and stimulous money? What about the $700 each elegiable tax payer got - what did that money do for the economy - NOTHING. I cross my fingers that the the new government will have the common sense we need.
Except for larger tax cuts the republicans have contributed nothing that would help stimulate the economy. HOW ARE TAX CUTS GOING TO HELP PEOPLE WITHOUT JOBS? The concept that business will hire more people if they receive larger tax cuts is foolish. Without sufficient income families cannot afford to spend. Why would more people be hired if there is no demand for their products. The american people need Republicans to help us, not posture on outdated policies. We need Jobs, not rhetoric.
The TARP bill passed by the Republicans in October had plenty of pork! The pigs were at the trough swindling the monies out of what was supposed to help banks give loans to small businesses as well as relieve mortgages. Do the Republicans think the public has such short memories.
McConnell called it the possible "Europeanization of America."
I certainly hope so.
Three Republicans in favor of supporting the stimulus plan, huh. That is awfully big of them, showing such a stance for unity at this time of great national crisis. At least Senator Mitch McConnell (Rep) was astute enough to see a need to Europeanize America, since it was overly risky American investment and banking practices that dragged most of the rest of the business and financial world into this mess to begin with. Let's not forget where the sub-prime mortgage was born, Sen. McConnell.
This is the end of America as we know it. But, That's what the socialist in congress want. They don't like the America they see now. They want the people who work and pay for this to keep working, and paying. I am quitiing my job today and applying for a bailout. If this is what they want, then lets give them just that. I'm not going to make another house, or car payment. I want Obama to pay for those things. I have a right to have those things, and more. I will cancle all my insurances by the end of the week. The Obama addministration will pick those up for me. Grab your ass, This is going to be very painful
What American people need more than anything is good jobs!We the people are not going to spend without a paycheck.The power of a stable job and positive press will have an overwhelming affect to turn the economy upward.
"Europeanization of America." When America starts using European precedents in case law, then we got something to worry about but until then... Oops, that's already happened in "American" courts. Wake up!
McCain is the real disappointment here. All that campaign talk about supporting the President was hot air. Of all the Republicans, I certainly expected more from him. The President has more than lend out an olive branch to the Republicans, but all he has received in turn has been criticism.
Realize that the results of the recent election indicate people trust Obama more than Republicans, accept the fact that they are in the majority, and work for the greater good. I can't believe they went along for the war in Iraq, but don't want to spend on domestic issues. But again, McCain is the big disappointment here.
this bill will be a disaster for the american people and a free hand to democrats for their pet projects. their is nothing in bill to help get jobs
Who has been named to the conference committee---house and senate members?
Sure, WHY NOT, more tax cuts, that is what the LAME Republicans want, more tax cuts is the answer to it all during Bush 43, do nothing, that is what the American people want our senators (LAWMAKERS) to do.
We don't need no stinking money from the government to help our economy, we don't need to have money give it to Bernanke, we don't need to see what he is doing with our money.
Where were the so called FISCAL RESPONSIBLE, conservative Republicans when it was time to drill Bush, Henry Paulson & Bernanke, where was the fight on how our money was to be spent, oversight, responsible use of our tax dollars?
Where were mouthpieces R-Mitch McConnell, R-John Cornyn, R- Jon Kyl, R-Lyndsay Graham, R-John McCain, R-Kay Bailey Hutchenson, amazing they have the balls to tear down a SPENDING plan for the American people but, now the Republicans want us to trust their so called leadership, we had Republican FAILURE for to long, PASS THE STIMULUS SPENDING BILL.
Well, Idiot Obama and Tax Cheat Geithner succeeded in destroying the economy. Dow is down nearly 400 today. Nice work, morons!
Nancy Pelosi and Harry Reid; please worry about the details of version discrepancy in the NEXT cycle of legislation. Find compromise between the current two versions now, preferably in favor of the Senate, only because the House doesn't need to concern itself with filibuster. Republican participation is clearly lost, and no longer worth pursuing. Get it done, unless we'd prefer to see the Dow plunge to 3,000.
I feel that America really needs a list of all the pork products in this bill.
Maybe the typical American does't know history or what's going on.
It's a sad day when people loose the ability to think for themselves.
Let's also be honest these economic problems are more than just the result of republicans, it is a failure of the people, of an entitlement society, of a lack of knowledge of what is going on with many goverment programs, need I remind some of NAFTA, CAFTA, Fannie Mac, etc. come on America let's get back on track.
in europe:
people are happier
people have siesta's to spend time with their family
work less and earn more
have free healthcare
oh no, can't have any of that. you guys are fools! the era of republican ideas is over, thanks in part to what it has wrought, e.g. the destruction of the middle class
Don't let the pro-illegal immigrant Democrats remove the E-Verify clause from the Stimulus bill. If it becomes mandatory it will save taxpayers Hundreds of Billions of dollars in free government handouts.
Millions of Americans are unemployed, so taxpayer dollars should not be used to feed, clothe, house, educate and offer free health care to foreign nationals. We need no more slave labor, gang members, and criminal aliens or anybody who violated immigration laws, whatever their country of origin. WE THE PEOPLE, must demand that Federal mandatory E-verify (immigration status right to work check) is not killed in the President Obama Stimulus bill. (March is the deadline) We must stop the pariah businesses from hiring illegal aliens and outsourcing our jobs Read what the non-profit Judicial Watch legal group has to say about corruption in Washington. FIGHT BACK OR LOSE YOUR RIGHT TO WORK!
Leave your irate message with the Washington Switchboard at 202-224-3121.
Read the facts not lies at NUMBERSUSA
Sonia - the TARP bill was the brainchild of President Bush and Congressional Democrats. One of the architects was Obama's buddy Timothy Geithner. The Congressional Republicans opposed it.
Besides, what does that have to do with Obama's "stimulus"?
Yes, your memory is that short.
Once the U.S. seeks energy liberty in a united manner, the concerns of annoying red ink, productive foreign relationship, health can be fixed ultimately for sure.
Sonia, Although I didn't agree with the first stimulus bill passed in November, I thought it was a waste and the banks would be back looking for more (as they are) Don't forget that the Democrats controlled congress and the Senate at that point.
Conrad, Tax cuts will help the Economy by putting more disposable income in people's pockets and allowing them to purchase goods and services, thus stimulating the economy. They are more sustainable than the tax rebate checks issued by Bush last year and discussed in the current plan as they are one time events The spending and extension of unemployment benefits in the current bill are helpful, but they are not sustainable and will not stimulate the economy.
I'm hopeful that the tax credit for auto buyer can be redirected to the Fuel-Eefficient Automobiles.
Geithner's presentation behaviors indicate he realizes he's in over his head, that he is not qualified for the job Obama gave him, and he's resorting to defensive bureaucratic responses. “We will have to adapt our program as conditions change. We will have to try things we’ve never tried before,” he said. “We will make mistakes. We will go through periods in which things get worse and progress is uneven or interrupted.” If you were a shareholder in a bank that was considering lending his company one or two TRILLION dollars, would you be in favor of trusting him with the money? Didn't think so. It's not really HIS fault, Obama GAVE him the job, and Obama will be responsible for what happens, (though he will NEVER admit it!)
after the passage of this legislation would the three republican senators due us republicans a big favor and resign or caucus with the democrats.that way republicans can present a unified message.
we will be known as the generation that left our children with a debt that cant be paid off. every day we give away tons of money and congress has no idea where the first batch of money went and dont really seem to care.our medical records are going to be owned by congress. they are giving tons of payback money to acorn to thank them for the voter fraud enabling democrats to get easy votes and on and on.when the mainstream media praised obama for his message of change they were right. noone will recognize america when he is done with us.