There's no panacea for what ails the economy. A stimulus plan will work only in combination with other actions, such as more aid to the banking system to spark lending and boost consumer confidence, and the implementation of any plan will be as important as what's in it.
However, most leading economists who are experienced in public policy generally favor the stimulus plan that the House is considering because through it the government will step up spending at a time when private-sector spending has fallen off sharply.
Some economists are ideologically opposed to any such massive government plan. The Cato Institute, a libertarian research center, has organized a list of dozens of academic economists who oppose the plan, urging instead tax cuts and smaller government, in favor of free markets and lower taxes over big government activities. Cato will advertise its list in coming days. However, that isn't where the balance of expert opinion comes down today.
