Obama's Stimulus Bill Passes the House With No GOP Support

"The bill that'll be on the floor today is a bill that has too much wasteful spending ... and buries our kids and grandkids under a mountain of debt," he said.

Senate GOP Wants 4 Percent Mortgages

Sen. Mitch McConnell, R-Ky., the Senate minority leader, said he aims to get rid of more spending provisions when the bill hits the Senate, citing money in the bill to create trails for all-terrain vehicles and what he called "fish projects."

"Hopefully it will be more stimulus and less pork," he told CNN today.

McConnell argued that tax breaks for the middle class and small businesses should make up 40 percent of the bill, instead of the 20 percent that's in the House version.

He also proposed a new mortgage provision that would reduce mortgage interest rates to 4 percent, which McConnell said "would go right at the housing problem, which started all this."

A reduced mortgage rate would allow those struggling to keep up with their mortgages to refinance and lower their monthly payments.

The Obama administration's economic plan is a combination of tax cuts and public works spending that is meant to improve the country's infrastructure while also putting Americans to work.

The Republicans argue that the spending is excessive and won't help revive the economy as efficiently as tax cuts would.

But Boehner concedes that both plans are little more than theories.

"There are no books written about how to do this. There's no track to follow," Boehner said. "So we're at the mercy of a lot of very smart people who will be giving us advice about what we need to do."

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