Yay Deal.

by dday

It looks like we have a deal on a $790 billion dollar recovery package from the conference committee, and you read that right, that is less than what the House and the Senate passed. However, it looks like some of the right things are going back in and the wrong things going out, albeit in token sizes. Only $5 billion of the $40 billion cut from the Fiscal Stabilization Fund will be restored in conference. The school repair funding will be restored to about $6 billion from $16 billion. Obama's middle-class tax cut is getting a 20% haircut, and the tax breaks for home-buyers and auto-buyers are being reduced.

At Calitics I ran the numbers in terms of what it means for budget-weary California, and it's probably a $5-$6 billion dollar shortfall from where the House bill was at. Which, of course, is a small price to pay to keep a smile on Presidents Collins and Nelson's faces.