Not that it makes a bit of difference at this point in time but the latest reports on the fiscal stimulus bill do seem to demonstrate how ludicrous this process has become.

The House is scheduled to vote tomorrow on the legislation and the Senate is then scheduled to follow either later in the day or over the weekend. Apparently, negotiations over a number of issues dragged on until this evening but all is reported well at this time. Of course, those last minute discussions allowed a couple of pet projects to sneak in.

GM got a $3.2 billion tax break that lets it carry back losses. The bill doesn’t mention GM directly, that would be gauche, but it’s pretty clear who benefits. A pet project of Obama and Harry Reid also was quadrupled to $8 billion, the money to be used to build high speed rail lines. And I know this is going to shock you, a bunch of that money is going to be used to build one of those lines between Las Vegas and Los Angeles. It goes on and on.

What’s really fascinating about this is that no one really knows for sure what is in the bill. You see, it hasn’t even been printed yet. That’s right, the final bill has not been delivered as of this writing to a single congressman or senator. Tomorrow they are going to vote to spend $800 billion and they haven’t even read the damn thing.

more: here