I, like the economy, am sick. I've got a head full of concrete, a chest with an iron band around it, and a nose that runs more often than Rob Blagojevich. If this post is short or incoherent, blame the rhinovirus or influenza or ebola or whatever this is. My energy level is through the floor. But, unlike the economy, I'm probably going to recover sometime this week.With President Obama scheduled to sign the stimulus into law today, the economy is about to get a shot in the arm. But is the dosage high enough? Many economists say no.
"...Obama got more or less what he asked for, he almost certainly didn't ask for enough. We're probably facing the worst slump since the Great Depression," wrote Nobel-winning economist Paul Krugman last week. "The Congressional Budget Office, not usually given to hyperbole, predicts that over the next three years there will be a $2.9 trillion gap between what the economy could produce and what it will actually produce. And $800 billion, while it sounds like a lot of money, isn't nearly enough to bridge that chasm."
"It is meaningful, but I do not think it is enough," Mark Zandi [chief economist of Moody's Economy.com] told Fox News Sunday. "I think the economy is in a very difficult situation. The difficulties require a larger package, and I think a year from now we will be talking about stimulus again, yes."... [CLICK TO READ FULL POST]
