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Stimulus deal reached by Senate

Friday a deal was struck in the Senate between Republican moderates and Democrats according to The Washington Post and The New York Times.

Susan Collins of Maine and Arlen Specter of Pennsylvania agreed to support the new $780 billion stimulus package.

More than $110 billion was cut from the original Senate stimulus package including: $20 billion for school construction and $8 billion to refurbish federal buildings for energy efficiency (The New York Times).

The House passed a different version of the package at $820 billion earlier in the week, and if the Senate package is passed it will be taken to the House for tweaks.

John McCain leads Senate Republicans who believe that the stimulus package is not the solution that will jump start the slumping U.S., economy.

According to the Labor Department 598,000 jobs were lost in January bring the total job loss to more that 3.6 million workers.

President Obama has aggressively attacked Republicans because he feels that, "It is inexcusable and irresponsible for any of us to get bogged down in distraction, delay or politics as usual while millions of Americans are being put out of work.?

The New York Times; http://www.nytimes.com/2009/02/07/us/politics/07stimulus.html?pagewanted=1&hp

The Washington Post: http://www.washingtonpost.com/wp-dyn/content/article/2009/02/07/AR2009020700639.html