Although it’s not directly related to homeland security, and it doesn’t change the FY2009 homeland security budget, the Economic Stabilization Plan (otherwise known as the “bailout bill”) is expected to have an effect on homeland security funding at multiple levels (see this commentary for more on the expected impacts).
[Update 10/08: Credit squeeze has yet to hit the homeland security biz]
[Update 10/09: See Homeland Security and Economic Recovery for how smart Homeland Security spending can help with economic recovery]
There’s more than enough commentary and information on the bailout plan on the web, but there’s so much it’s hard to piece it together and find really good info. Thankfully, I found a good summary of information resources on the blog of California Rep. Mike Honda (D-CA 15):
See also this article by Steven Pearlstein of the Washington Post about why even people who hate the bailout think it’s necessary.