A Long, Long Night...

Mayor Bloomberg with House Education Chairman

Even though a 'deal' has been announced, negotiators worked through the night on the bill's details -- and details mean a lot when even 0.1 percent of the bill is $100 million. The exact breakdowns, the formulas governing the spending, all these are still emerging.

Publicly, we're hearing a lot of praise from the mayor and city congressional leaders, but privately there's a lot of hand-wringing that so much was lost, particularly in the areas of transit ($8.4 billion versus the House's $12 billion) and school construction -- a figure that is still isn't entirely clear, but is considerably trimmed down from the $14 billion that once seemed in reach. For mayors and governors sloughing through the desert of economic distress, the stimulus bill seems like a mirage -- it once seemed so much, now it's evaporating to sand.

While they (and we) are waiting for more numbers, here's a release from Speaker Nancy Pelosi's office.