This post should be about all the great Recovery Act transparency and oversight issues the Senate Homeland Security and Governmental Affairs committee learned about yesterday when it held a hearing titled "Follow the Money: An Update on Stimulus Spending, Transparency, and Fraud Prevention." But it isn't.

Yesterday, as per Recovery Act requirements, the Council of Economic Advisors (CEA) released their quarterly report on the "impact of programs funded through [the Recovery Act] on employment, estimated economic growth, and other key economic indicators."

This week, Recovery Act transparency will begin to take center stage. Today, the Senate Homeland Security and Governmental Affairs Committee held a hearing on stimulus spending and the Council of Economic Advisors released its report on the economic impact of the Recovery Act, while later this month the Government Accountability Office will release its third bimonthly report on Recovery Act implementation and transparency. To highlight strengths and weaknesses of disclosure and accountability in Recovery Act spending, OMB Watch is releasing a comprehensive report on Recovery Act transparency.

According to a new report released today by Citizens for Tax Justice (CTJ), the tax cuts passed under President George W. Bush, which provide benefits mostly to the rich, will cost the country $2.5 trillion over the decade after they were first enacted (2001-2010). A number of lawmakers who voted for the Bush tax cuts have recently been arguing against health care reform legislation aimed at helping all Americans, claiming reforms are "too costly." How can this be?