Who would have expected the acceleration of the market crash during the critical appropriations cycle?  Further, who  could have predicted an administration scheme to prevent the country from further economic turmoil with a $700 billion dollar bail out plan?

Congress didn’t.  With several plans to pass appropriations bills to keep our country running after Sept 30th, things on the hill shifted at lightening speed to change the legislative agenda to focus on legislation to stimulate and protect our volatile economy:  Rightfully so!

However, word is that there will be a slight shift in focus to get these critical spending bills signed into law.  According to insiders at OhMyGov!, hill staffers were scrambling late last night to try and get various pieces of legislation (to include earmarks, aka, pork-barrel spending) ready for an Omnibus bill to hit the floor today for vote.

For those that missed School House Rock, an Omnibus bill packages together several measures into one or combines diverse subjects into a single bill. Typically, an Omnibus bill contains amendments to a number of other laws or even many entirely new laws. Examples are reconciliation bills, combined appropriations bills, and private relief and claims bills.

Sources have identified typical pork-barrel spending without regard to our current economic situation. Based on sources within the administration, President Bush should veto the bill and insist on a continuing resolution (keeping remaining discretionary spending frozen at fiscal year 2007 spending levels).

Specifics can not be laid out to protect sources but be prepared for a unpredictable week on the hill.

 
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