Obama says Stimulus Bill ‘On Target’

President Barack Obama says it appears Congress is ‘on target’ to approve a massive new stimulus package by Feb. 16. Wait, what? Dude, how ’bout tomorrow? The Bear Stearns guys received their stimulus package between cappuccino at the polo field and brunch at the Four Seasons. Of course, if we leave Iraq, wouldn’t that save a few bucks (not to mention lives)?

President Barack Obama says it appears Congress is “on target” to approve a massive new stimulus package by Feb. 16. He spoke Friday after meeting in the White House’s Roosevelt Room with top Democratic and Republican leaders from Capitol Hill. Obama says he realizes the package is “a heavy lift” for many lawmakers, but that the urgent economic crisis demands action. – from AP

President Obama’s $825 billion stimulus package has begun making its way through the labyrinth of House committees, overcoming a key hurdle last night as it was passed by the House Appropriations Committee. The Appropriations Committee, which is responsible for examining the $358 billion swath of the package that goes toward spending measures, passed the marked-up American Recovery and Reinvestment bill by a vote of 35 to 22. The hearing also gave Republicans their first formal chance to air their concerns about the stimulus bill, which they worry is too large and being pushed through with too much haste. – from USnews

After the meeting, House Minority Leader John Boehner, R-Ohio, questioned the size of the bill, now at $825 billion but expected to grow. “We expressed our concern about some of the spending that is being proposed in the House bill,” he said.” We’re borrowing this money from our kids.” – from USAtoday