The Incredible Shrinking Economic Recovery Act

graph1.jpgWell, this sucks.

Negotiators for Congress and the White House have tentatively settled on a $790 billion price tag on President Barack Obama’s economic stimulus bill and are working to narrow differences on individual elements of the bill.

And why is it getting smaller?

Several sources told CNN that the number is lower to satisfy the three moderate Republican senators.

ThinkProgress has more.

Assuming the bill is still about 40% tax cuts, you can see that our priorities as a country are still insane. I don’t remember anyone calling this year’s over $500B spending on defense "generational theft." And keep in mind — the stimulus bill includes, surprise!, more defense spending.


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