President George Bush and House leaders agreed on an economic stimulus package that was quickly passed by the House. It appeared to be a bipartisan agreement that would fairly rapidly pump some money into the economy.

That was, however, until it reached the Senate. There it has slowed significantly.

Senate Democrats think the economy will get a bigger boost by lowering the rebates and giving them to more people, including low-income older Americans, wealthier taxpayers and disabled veterans. They also want to extend unemployment benefits.

This plan would raise the cost from $161 billion to $204 billion. The Senate, not unexpectedly, has thrown a monkey wrench into the best-laid plans of the president and House leaders.

The Senate plan has some validity. Older Americans certainly could use the extra money and the wealthy may be more likely to spend the money on purchases that will help the economy.

But as we argued last week, the economic stimulus plan is a short-term fix that adds to the long-term problem of a growing national debt.

The Senate plan appears to be too much largess coming too late.

Sooner, much preferably than later, the U.S. needs to take its $9 trillion debt seriously and work to start reducing it.

No one wants to see the U.S. drift off into recession. No one wants to see any jobs lost, like the 17,000 that were cut in January.

Putting the country further into debt just doesn't seem like a long-term solution. The Fed's lowering of interest rates seems to be a better approach that will encourage investment and job creation.