Recession Job Losses

Nope, nothing to worry about here…

The final Senate vote will come tomorrow, but in effect, it’s done.  This is the Gang of Four Compromise which cuts millions of jobs from the budget (600 thousand per Krugman).  Collins, Snowe and Specter voted yes.  Kennedy was brought in to vote as well.  Other than them, straight partisan though there appear to have been some absences. After the vote tomorrow, the next step will be a conference between the House and Senate to determine a final version to be voted on by both bodies.

At this point we can only hope that more elements from the vastly superior House version make it into the final bill.  Given that even the House version was too small, I suggest we all bunker up for the continuing economic meltdown.  It is going to be… ugly.