We (Almost) Have a Stimulus

The final draft of the stimulus is almost ready: According to the Associated Press, Congress and the White House have agreed on a $790 billion price tag for the stimulus bill. Democratic aides say that Obama’s team succeeded in restoring funding for school construction projects and increased aid to state governments. Savings come, in part, from a reduction of Obama’s “Making Work Pay” tax credit. The cuts were in large part to appease the troika of Republican senators—Olympia Snowe and Susan Collins of Maine and Arlen Specter of Pennsylvania—who voted for the larger Senate bill but insisted it be pared down in conference.