February 9th, 2009
06:44 PM ET
6 years ago

Senate stimulus bill to cost $838 billion

NEW YORK (CNNMoney.com) - The amended economic recovery bill that the Senate is expected to pass on Tuesday would increase the deficit by $838 billion over 10 years, the Congressional Budget Office estimated on Monday.

That is less than the $885 billion the CBO estimated the original Senate bill would cost last week. But it's still larger than the roughly $820 billion stimulus bill passed by the House two weeks ago.

Republicans and some Democrats criticized the size of the original Senate package.

Sen. Susan Collins, R-Maine, and Sen. Ben Nelson, D-Neb., led a small, bipartisan group of senators last week to reduce the price tag by roughly $100 billion.

Full story


Filed under: President Obama • stimulus plan
soundoff (60 Responses)
  1. Once you vote Black

    It will be worth it if it works. If it does not work I am putting a lemonade stand in front of the house the the little guy can start paying it off now.

    February 9, 2009 07:32 pm at 7:32 pm |
  2. Lush Limprick the real head of the RNC

    Three reasonable Republicans? Who knew?

    At least they are not all obstructionist!

    Thank you Senators Collins, Snowe and Spechter for actually putting "Country First" instead of "party first" like the other 36 repubs.

    February 9, 2009 07:33 pm at 7:33 pm |
  3. Sarty

    RNC Chair Steele Doesn't Seem To Understand How The Government Works"
    Is that so unusual for a Republican? Bush, Palin, and 39 other moronic publicans the senateu and hundreds in the house.
    Obama- please. take out one by one or the entire bad crop.

    February 9, 2009 07:36 pm at 7:36 pm |
  4. jaye

    838 Billion is a good start – but more will be needed.

    February 9, 2009 07:37 pm at 7:37 pm |
  5. Sarty

    RNC Chair Steele doesn't seem Tt understand how The Government works"
    Is that so unusual for a Republican? Bush, Palin, and 39 other moronic republicans the senate and hundreds in the house.
    Obama- please. take out these idiots one by one or the entire bad crop. (badly infected.)

    February 9, 2009 07:39 pm at 7:39 pm |
  6. Obama 2.0

    The sad fact is that it probably still isn't enough to get us out of the hole that Bush, Chainey and te GOP got us in. Boy they broke it off way deep.

    February 9, 2009 07:40 pm at 7:40 pm |
  7. Sartyi

    RNC Chair Steele doesn't seem To understand how The Government works"
    Is that so unusual for a Republican? Bush, Palin, and 39 other moronic republicans in the senate and hundreds in the house.
    Obama- please. take out these idiots one by one or the entire bad crop. (badly infected.)

    February 9, 2009 07:40 pm at 7:40 pm |
  8. REPUBLIC OF TEXAS

    OMG---IT IS TIME TO GET OUT THE PITCH FORKS AND TAKE OUR COUNTRY BACK..

    February 9, 2009 07:40 pm at 7:40 pm |
  9. CK4NYSenate2010

    "arithmetic is liberal February 9th, 2009 6:50 pm ET

    That's 100 billion in infrastructure jobs taken out, and about 38 billion in tax cuts on capital gains put in."

    And the kicker is that they STILL didn't vote for it. "Country First" is starting to look a lot like "Party First."

    February 9, 2009 07:41 pm at 7:41 pm |
  10. Anonymous

    I wish we could just let the Republicans experience first-hand the loss of jobs and homelessness, so that they may truly understand the American people. We certainly can help them experience joblessness in 2010 and 2012. Of course, losing one home probably won't make them homeless...Mr McCain!

    February 9, 2009 07:43 pm at 7:43 pm |
  11. Steve (the real one)

    last week it was reported to be $780 B. What happened? I guess money is easy to spend when it isn't yours!

    February 9, 2009 07:44 pm at 7:44 pm |
  12. Daniel, Atlanta, GA

    I just wonder if Republicans truly understand the American people. I feel sorry for the people in the states that Republicans represent–talk about lack of connection!

    February 9, 2009 07:44 pm at 7:44 pm |
  13. Steve in Las Vegas,NV

    What happens when all the infrastructure projects are complete, and more companies have folded? More companies are going bust, but this should not be!

    One thing that will keep jobs here is to outlaw offshoring of American jobs. Too many companies find it better to their bottom lines to send jobs overseas than to keep them here. Most of what we buy at places like WalMart, Kmart and just about anywhere else is made in China, Mexico, Korea, ETC, NOT here in America.

    This must stop offshoring NOW, or else we will never got out of this cycle of joblessness and poverty! Demand American made products!

    February 9, 2009 07:45 pm at 7:45 pm |
  14. daniel cabrera

    This blasted plan is conducted to PERPETUATE THE DAMAGE MADE ORIGINALLY BY FREDDIE,FANNIE, (EVERYBODY KNOWS THE REST...AND REMEMBER THE COVER-UP GROUP;- PELOSI,REID,DODD,COX, ETC, AND OTHERS WEEDS,...ALL BUDDIES OF OBAMA)

    IT WILL ONLY WILL EXPAND MORE CHEATING TO THE TAXPAYERS.

    IS EVERYONE OK WITH THIS THING?

    HEY!, YOU WANTED OBAMA?,...EAT OBAMA NOW, !....AND MORE IS TO COME !

    February 9, 2009 07:45 pm at 7:45 pm |
  15. Leading Economists Disagree with the Stimulus

    "Notwithstanding reports that all economists are now Keynesians and that we all support a big increase in the burden of government, we the undersigned do not believe that more government spending is a way to improve economic performance. More government spending by Hoover and Roosevelt did not pull the United States economy out of the Great Depression in the 1990's. More government spending did not solve Japan's "lost decade" in the 1990's. As such, it is a triumph of hope over experience to believe that more government spending will help the US today. To improve the economy, policymakers should focus on reforms that remove impediments to work, saving, investment, and production. Lower tax rates and a reduction in the burden of government are the best ways of using fiscal policy to boost growth"

    Signed by 250 leading economists of the CATO Institute who disagree with the President's spending plan

    February 9, 2009 07:45 pm at 7:45 pm |
  16. RandyCB

    Republicans and some Democrats in both should be ashsmed. They all are a bad example for the youth of the country. Frist the gave in without rules then they were petty. Event I realize there shoulg have been a three stage plan, written with little slip slide room.

    February 9, 2009 07:45 pm at 7:45 pm |
  17. The Truth

    There we have it. The line has been drawn in the sand. It's solely a democrat plan and now we will see if they sink or swim.

    February 9, 2009 07:46 pm at 7:46 pm |
  18. Brandon from VA

    What amazes me is that the GOP seems to think that tax cuts for business that are billions of dollars in the red will suddenly cause the management to start hiring workers. The economy is in the tank not because of high taxes , but because of shady business practices, an investment system void of regulation, and a national spending habit that is based on credit, not income. Does anyone out there really believe that GM, AIG, Freddie Mac, or IndyMac would be doing well if not for their taxes?

    February 9, 2009 07:47 pm at 7:47 pm |
  19. Darrin

    We are doomed!!!! Unless there is a payroll tax suspension we are doomed!!!

    February 9, 2009 07:47 pm at 7:47 pm |
  20. ctvoter

    Many eminent economists have told us that the cost of the recovery act will be regained by the economy getting back to speed, and then some. A great investment. It's only a deficit if it doesn't work...and it won't work if we don't invest enough.

    February 9, 2009 07:49 pm at 7:49 pm |
  21. Neal

    NOT BIG ENOUGH!
    Its going to take about $2 Trillion to restart the economy.
    Otherwise, we are looking at the end of US economic power.

    February 9, 2009 07:53 pm at 7:53 pm |
  22. D O

    As the president said we will get out from GOP hole one day

    February 9, 2009 07:55 pm at 7:55 pm |
  23. Ryan

    Only a fraction of the spending is on infrastructure. Much of it is entitlements and social prgrams. More of it should be constructuion and I will dare to say it: spending on military projects that would put americans to work. My cousin was killed a year ago when his B52 fell apart in mid air-a consequence of congresses failure to fund a replacement for airframes that were procured during the Eisenhower administration.

    February 9, 2009 07:55 pm at 7:55 pm |
  24. Soldier 4 OBAMA

    The House Democrats send a 819 billion bill to the Senate, the GOP gut the bill and came up with 836 billion, now who really like to spend? The GOP is all about tax cuts, it doesn't pay the bill, create jobs or put food on the table. Educate yourself America, the GOP tax cuts are geared towards the GOP!

    February 9, 2009 07:56 pm at 7:56 pm |
  25. Tiff of lithia springs

    One of the Republican Congressman on meet the press stated that Barney Frank was fear mongering when he stated that teachers fireman and policeman would be fired.

    Guess what genius, in Georgia they are either getting furloughed or having their hours reduced. And officials in the education system are having 2 weeks pay trimmed off of their contracts. This isnt a game of politics even jobs that were thought to be recession proof are going up in the air in smoke.

    NO MORE DUMB REPUBLICANS

    February 9, 2009 07:58 pm at 7:58 pm |
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