What About the Needy?

"'It's way inadequate,' said William Spriggs, an economist at Howard University in Washington. 'It doesn't fix the problems we have with the safety net.'"

Steven Mufson and Neil Irwin write in The Washington Post: "A study by [Mark Zandi, chief economist of Moody's Economy.com,] estimates that every dollar put into the food stamp program produces a $1.73 increase in the economy as the money is spent and spent again. By contrast, every dollar put into the business tax breaks that are in the stimulus package will increase the economy by 27 cents, according to the study. The business portion of the stimulus package allows companies to write off 50 percent of the cost of equipment in the year of purchase. This will help firms that sell long-lasting equipment such as machine tools, aircraft, and agricultural and construction equipment. Technology firms could also benefit. But much of that investment would have happened anyway, according to some economists."

The Beginning or the End?

Peter Baker and Jonathan Weisman write in The Washington Post: "As they unveiled a $150 billion package of tax breaks for consumers and businesses yesterday, Republicans and Democrats hoped to rescue not only a troubled economy but also a government that increasingly has seemed as if it could not get anything done.

"President Bush hailed 'the kind of cooperation that some predicted was not possible here in Washington.' House Speaker Nancy Pelosi (D-Calif.) used the words 'bipartisan' and 'bipartisanship' 10 times in a brief appearance. 'Many Americans believe that Washington is broken,' said House Minority Leader John A. Boehner (R-Ohio). 'But I think this agreement, and I hope that this agreement, will show the American people that we can fix it.'

"The agreement on a stimulus package represented the first time since divided government returned to Washington a year ago that the two ends of Pennsylvania Avenue sheathed their swords and came together on a major initiative without any bloodletting first. But the White House and House leaders face two critical questions now: Can they make it stick in a balky Senate? And can they extend this moment of cooperation, or is it a one-time deal in the face of economic and political desperation?"

Baker and Weisman note: "The accelerating presidential campaign also makes it more difficult to reach across party lines."

And here comes some dazzling White House spin:

"But the White House sees a window of opportunity through spring, before the campaign heads toward the nominating conventions and the general election. Some likened the moment to the summer of 1996, when President Bill Clinton and a Republican Congress teamed up for a burst of pre-election legislation such as changes in welfare after 18 months of bitter fighting.

"Bush plans in his State of the Union address Monday to outline several areas in which he hopes to work with Congress, including trade and veterans' health care. And some aides think they could find common ground on warrantless surveillance and children's health care. The economic deal showed what is possible. 'This is the first example of it,' said a senior administration official. 'I don't think it will be the last.'"

The president, however, apparently wasn't fully briefed on the spin du jour.

Mike Carney blogs for USA Today: "Some are saying the $150 billion economic stimulus package might signal a breakthrough in the sort of polarized politics that has made it hard to get things done in Washington.

"President Bush seems a little skeptical about that.