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The Congress passed the porkulus spending bill (no surprise there).

From Bloomberg.com:

Feb. 13 (Bloomberg) -- The U.S. Congress gave final approval to President Barack Obama’s $787 billion economic stimulus package in hopes of wresting the economy out of recession through a mix of tax cuts and federal spending.

The Senate approved the package 60 to 38 with three Republicans joining Democrats in voting “yes.” Earlier today, the House passed the measure 246 to 183 with no Republicans in favor and seven Democrats opposed. The bill, Obama’s first major victory on Capitol Hill, now heads to his desk to be signed into law.

Could Start Trade War

From FoxNews.com:

Major partners, including the European Union and Canada, say the legislation favoring U.S. steel, iron and manufactured goods for government projects could undermine pledges by the leaders of major economies not to resort to perfectionism during the world economic downturn.

Requirements known as "Buy American" were softened as the bill progressed through Congress and after strong criticism from abroad. Senate and House negotiators agreed to a version that would require the government not to violate trade agreements when implementing the law.

The bill also allows the Obama administration and state governments to waive requirements to favor U.S. companies if they deem it in the U.S. public interest and if they publish a justification.

The dispute has put Obama in a difficult position. While campaigning last year, he raised questions whether U.S. trade agreements contained sufficient protection for labor and environmental standards. He has warned recently, however, about antagonizing trading partners and has made clear that passage of the overall stimulus bill is needed urgently to mend the U.S. economy.

Who Gets What?

For a complete listing, go to Who Gets What?

From FoxNews.com:

One thing about the president's $790 billion stimulus package is certain: It will jack up the federal debt.

Whether or not it succeeds in producing jobs and taming the recession, tomorrow's taxpayers will end up footing the bill.

Forecasters expect the 2009 deficit -- for the budget year that began last Oct 1 -- to hit $1.6 trillion including new stimulus and bank-bailout spending. That's about three times last year's shortfall.

The torrents of red ink are being fed by rising federal spending and falling tax revenues from hard-hit businesses and individuals.

The national debt -- the sum of all annual budget deficits -- stands at $10.7 trillion. Or about $36,000 for every man, woman and child in the U.S.

Interest payments alone on the national debt will near $500 billion this year. It's already the fourth-largest federal expenditure, after Medicare-Medicaid, Social Security and defense.

This will affect us all directly for years, as well as our children and possibly grandchildren, in higher taxes and probably reduced government services. It will also force continued government borrowing, increasingly from China, Japan, Britain, Saudi Arabia and other foreign creditors.

Besides that, ACORN and other leftist groups will receive billions of your tax dollars and the bill guts the Clinton-era welfare reforms.

Welcome to the United Socialist States of America!