Guess what you’re going to get for taking out that mortgage you couldn’t afford … three hundred bucks!

WASHINGTON (AP) — Democrats running Congress and the Bush administration reached a tentative deal Thursday on $300-$1,200 tax rebates and business tax cuts to jolt the slumping economy.

[snip]

Families with children would receive an additional $300 per child, subject to an overall cap of perhaps $1,200, according to a senior House aide who outlined the deal on condition of anonymity in advance of formal adoption of the whole package. Rebates would go to people earning below a certain income cap, likely individuals earning $75,000 or less and couples with incomes of $150,000 or less.

So what will you do with yours? Fill your gas tank? Pay those late fees your lender charged you? Or maybe just drink it. All I know is that it’s not enough for that pony they promised me.

By way of introduction - I am a recovering lawyer living on the Upper West Side. I like to blog about politics and, once in a while, the subprime crisis (aka “Big Shitpile”). If you have any complaints, direct them to Megan - she invited me. I have no idea why, but she did.