Friday, February 8, 2008

Economic Stimulus Package Passed By Senate

Senate Democrats gave in on most of their demands yesterday and elected to pass the economic stimulus package. For a more in-depth look at the additional items the Senate Democrats wanted to include in the package, see yesterday’s blog post: Senate Delays Economic Stimulus Package.

Democrats were able to get some level of financial aid to the elderly and disabled veterans. While those groups would have received nothing under the previous bill, the new plan calls for them to receive $300, according to The Wall Street Journal. Adding these additional recipients will increase the total cost of the bill to $167 billion from $161 billion.

The speed at which the two sides were able to come together is especially impressive. In a system known for delays, they certainly got this done quickly. During this election year, it is apparent that neither side--Democrat or Republican--wants to be responsible for delaying the tax rebate checks that Americans are now expecting.

It also goes to show us how desperate Americans are for money right now, and what lengths politicians will go to in order make us think that everything is going to be okay. As I’ve stated before, this stimulus plan is destined to do nothing more than to make things worse for America, but politicians are willing to take a chance that it will delay the inevitable. At the end of the day, though, they are doing what they think is best for their re-election chances…ahem, I mean America.

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