Very, very bad news

Speaker Pelosi has produced a budget resolution that endorses a cut of $7 billion from the Obama Administration's plans, without specifying any way of doing that. Far worse is that they've delegated the job of detailing the cuts to the catfood commission. The plan was approved by all of the Republican Congresspeople and 38 Democrats. Their major motivation?

The enforcement resolution is being used instead of a full-fledged budget resolution because rank-and-file Democrats did not want to vote for a budget resolution that would show large deficits, particularly in an election year marked by worries about the nation’s fiscal solvency. [emphasis added]

And cowardice wins out again, meaning with the latest employment figures and the refusal of Congress to spend appropriately, we seem to be on the way to a double-dip recession.