Stimulus update
I'm hard-pressed to believe that just another $100 billion in stimulus is the difference between recovery and grass huts.
This,
by the way, is the most pernicious effect of the entire financial
meltdown on fiscal policy. When $100 billion no longer seems like a
significant sum of money, it's time for a good stiff drink.
Yes a slightly cheaper version of the stimulus is about to pass. Here is some detail on the composition of the Senate bill. The final combined bill,as it will come out of conference, might be worse yet. And here are details of the new banking plan.