Stand by: Moderates have Reached a Tentatave Spendulus Deal

According to Congress Daily, moderates have struck a tentative deal.

A group of Senate moderates working on an amendment to cut up to $100 billion in spending from the economic stimulus package have completed a tentative proposal that will be presented to Senate Democrats at a 5:30 p.m. caucus meeting, Senate Budget Chairman Kent Conrad told reporters. “There is a proposal that is sufficiently fleshed out and we will have a caucus and discuss it,” Conrad said after emerging from talks in Senate Majority Leader Reid’s office. Democrats hope the proposal, developed by Sens. Susan Collins, R-Maine, and Ben Nelson, R-Neb. [SIC], will attract several GOP supporters and be acceptable to all Democrats, which would allow for passage of the plan as early as tonight.

This is terrible news.

Update: Bill Sammon doesn’t think this is anywhere near a done deal, and I pray he is right. I much rather prefer John Thune’s idea.

Update II: A commenter:

Are you sane? Do you want the country to fail?

No I don’t want my country to fail, which is why I am heartsick this monstrosity may pass.

Peter Schiff argues that this stimulus bill will lead to an unmitigated economic disaster. Click here to watch.

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