Deal Reached in Congress on $789 Billion Stimulus Plan  —  WASHINGTON — House and Senate leaders on Wednesday struck a deal on a $789 billion economic stimulus bill after little more than 24 hours of rapid-fire negotiations with the Obama administration, clearing the way for final Congressional action later this week.

Cantor's Office Responds: Video Depicting AFSCME Members As Goons  —  Updated below with call on Cantor to apologize.  —  This isn't going to make the big unions very happy.  GOP House leader Eric Cantor's office has come up with an intriguing response to the AFSCME ad bllitz targeting GOP leaders …

Continuity of the Wrong Kind  —  The Obama administration failed — miserably — the first test of its commitment to ditching the extravagant legal claims used by the Bush administration to try to impose blanket secrecy on anti-terrorism policies and avoid accountability for serial abuses of the law.

A Stunning Israeli Election  —  As I noted, I'm pretty far from Israel (geographically, that is), but my cell phone works in the western desert, and I've been talking to friends in Tel Aviv.  A number of quick observations:  —  1. The stunner, for me at least: The Labor Party is dead.

Give Geithner a Break  —  I don't think he did well yesterday.  I don't know that he's the right guy for the job.  But what I do know is the following:  —  1. Nobody, absolutely nobody, has more incentive to get this right than the Obama Administration.  If the economy collapses — well …

Stimulus Support Edges Higher, Now 59%  —  Support up mainly among Democrats; flat among independents  —  PRINCETON, NJ — Public support for an $800 billion economic stimulus package has increased to 59% in a USA Today/Gallup poll conducted Tuesday night, up from 52% in Gallup polling a week ago, as well as in late January.

Murtha May Be In Hot Water  —  This week might bring another ethical embarrassment to the Democrats, who have been stung in recent weeks by revelations of misconduct by some of President Obama's nominees for key positions.  The FBI is investigating Representative John P. Murtha's relationship …

Remember This Catchphrase: “Maybe Too Little, Always Too Late”  —  Now that the stimulus package is about to become law (likely signed by Barack Obama on President's Day next Monday no less!), here's something to keep in mind.  And on file.  —  And if this chart is correct …

Bailed-Out Firms Distributing Cash Rewards: “Please Do Not Call It A Bonus”  —  Two Wall Street firms that received at least $60 billion in government bailout funds will be rewarding their financial advisers with controversial retention payments, the terms of which one senior executive described as …

67% Say They Could Do A Better Job On The Economy Than Congress  —  When it comes to the nation's economic issues, 67% of U.S. voters have more confidence in their own judgment than they do in the average member of Congress.  —  Nineteen percent (19%) trust members of Congress more …

Angry survivors blame council ‘green’ policy  —  ANGRY residents last night accused local authorities of contributing to the bushfire toll by failing to let residents chop down trees and clear up bushland that posed a fire risk.  —  During question time at a packed community meeting …

Opportunites pour in for Cape teen who captured Obama's attention  —  Julio Osegueda's 15 minutes of fame is starting to bring in opportunity.  —  Since the 19-year-old Cape Coral resident had the opportunity to ask the president about receiving better benefits at his McDonald's job Tuesday during …

Banking CEOs: We didn't think the bailout was necessary  —  by David Waldman aka Kagro X  —  Hey, who knew?  —  At the House Financial Services Committee hearing minutes ago, Rep. Joe Baca (D-CA-43) asked the following question: … I thought that was just about the biggest softball I'd ever heard.

Key GOP Senator in Stimulus Deal Is Known for Centrist Approach  —  Six years ago, Sen. Susan Collins (R-Maine) was working to broker a deal with a Democratic colleague that would steer $20 billion in relief to struggling state governments when she was abruptly called into the office of House Speaker J. Dennis Hastert (R).

800 Billion Reasons To Be Worried  —  The Senate stimulus bill should only stimulate taxpayer anger  —  How bad is the stimulus bill just passed by the Senate?  Well, at least as bad as the one passed last week by the House of Representatives, but probably not as bad as the final bill …

Stimulus Victory for Obama, but in a New Political Climate  —  WASHINGTON — It is a quick, sweet victory for the new president, and potentially a historic one.  The question now is whether the $789 billion economic stimulus plan agreed to by Congressional leaders on Wednesday is the opening act …

RIGHT BEFORE THE ELECTION OF PRESIDENT HUSSEIN: “A $550 Billion Electronic Run on the Banks” … This is un-frickin-believable.  The financial crisis was deliberate, planned, staged.  Who made the run? … Electronic Run On Banks - $550 Billion Withdrawn In 1 Hour, Federal Reserve Halts Withdrawals …

Maxine Waters brings the crazy  —  Her questions to the bankers are so bizarre that they don't know what to do.  Ken Lewis looks like a deer in the headlights as Waters asks her about offshore loss mitigation efforts.  He can't even figure out what she's talking about …

‘Network management’ meets child porn  —  US Senator Dianne Feinstein hopes to update President Barack Obama's $838bn economic stimulus package so that American ISPs can deter child pornography, copyright infringement, and other unlawful activity by way of “reasonable network management.”

Steve Austria (R-OH) Doesn't Know When the Depression Happened  —  Austrian economics (pardon the pun) continues to take over the Republican Party: … Probabilities indicate that this is not the stupidest conservative in congress.

Jared Bernstein Explains the Connection Between Stimulus and Banking Rescue  —  Politically speaking, both the idea of a fiscal stimulus package in general and the specific stimulus plan working its way through the legislative process are quite possible.  Rescuing—or “bailing out”—the financial system is another matter.

Schwarzenegger, legislative leaders settle on budget framework  —  Participants in the negotiations say the spending proposal, aimed at closing a $42-billion budget gap, would lower investment in schools and other programs while imposing temporary tax increases.

Next Wave of U.S. Mortgage Defaults  —  [Credit Suisse via FT]

So Far, Amateur Hour  —  The first however-many days of Barack Obama's presidency have been a study in amateurism.  —  Many suspected that Obama wasn't quite ready, but kept their fingers crossed.  Optimistic disappointment is the new holding pattern.  —  What's missing from Obama's performance …

Big Business Loses Out on Tax Break  —  WASHINGTON — From auto dealers to the home-building industry, big business appears to be the biggest loser in the final economic stimulus plan being pieced together Wednesday on Capitol Hill.  —  Negotiators from the House and Senate sliced billions …

Taliban assault ministries in Kabul  —  The Taliban launched a coordinated assault on two Afghan ministries and a prison headquarters in the capital of Kabul, resulting in 19 people killed and more than 50 wounded.  The attack took place one week after Afghan security forces broke up a large terrorist network in the city.