Democrats scale back stimulus bill

[DogPoundPup]

Source: Columbus Dispatch

WASHINGTON -- The worst monthly drop in retail sales on record set off new alarm bells about the economy yesterday, stepping up pressure on policymakers to figure out how to combat what increasingly appears to be a severe recession.

But congressional Democrats, facing opposition from the Bush administration, yesterday abandoned a plan to offer a wide-ranging economic-stimulus plan next week, putting off any chance that the federal government will provide a major jolt to the economy until after President-elect Barack Obama is sworn in Jan. 20.

Instead, Democrats have scaled back their proposal to a package that will include a $6 billion expansion of unemployment benefits and a $25 billion cash infusion for the struggling auto industry, setting up a confrontation with Senate Republicans over whether the government should expand its rescue program beyond the financial sector.

The Federal Deposit Insurance Corp., also breaking with the administration, proposed having the government spend $24 billion to back mortgages and help 1.5 million Americans avoid foreclosures.

Read more: http://www.dispatchpolitics.com/live/content/national_world/stories/2008/11/15/copy/financial_meltdown_1115.ART_ART_11-15-08_A1_4KBT2U8.html?adsec=politics&sid=101

[Warren Stupidity]

1. Of course they did. Good ol' fight for nuttins.

I love my party!

[madrchsod]

2. another 13 weeks of emergency unemployment benefits

course there will not be any jobs this time just like the last 13 weeks of emergency unemployment

[midnight]

3. Private citizens should just incorporate, and get our share of

bailout money!