But Appropriations Committee ranking member Thad Cochran, R-Miss., said that while he agrees on the urgent need to address the slump, the panel is being asked "to take a leap of faith that this massive amount of spending will stimulate a suffering economy, despite evidence that much of the funding will not be spent in the next year or two."
Cochran's comments came on the heels of new Congressional Budget Office report noting that about 65 percent of the bill's overall funding would be spent within the first 18 months of enactment. That is below President Obama's goal of spending 75 percent in 18 months. A previous CBO report on the discretionary spending in the House version indicated that less than half would be spent by the end of fiscal 2010.
Cochran recommended that some stimulus spending be handled in the regular annual appropriations bills, which would allow the stimulus bill to focus spending on short-term job creation. Cochran voted for the package, but he said he did so only out of deference to Inouye. He added he reserved the right to oppose the measure on the Senate floor after he examines the measure in full, with the tax component.
Thanks for the info. Sounds weak to me. I am a bit tired of the frat boy mentality of some of these senators. Why show deference to a democrat?
When have they ever showed ‘deference’ to a republican?
It is time to fight!!