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Rich Lowry argues that the stimulus was a bad idea:
The rosy apocalypse is an artifact of both ideological naïveté and knowing cynicism. The administration genuinely believed, against all historical experience, that government spending would boost us out of the recession. And it knew it had to assume an unrealistically rapid, robust economic recovery, because otherwise the already-horrid deficit projections would look worse. So Obama talked up the crisis to get the stimulus passed, and after that . . . happy days again!
If only the job market were cooperating. In a report prior to the passage of the stimulus, the soon-to-be head of the Council of Economic Advisers, Christina Romer, suggested the unemployment rate wouldn't increase beyond 8 percent. It now stands at 9.5 percent and will go higher. The Obama stimulus is falling victim to the poor timing and inefficiencies of all such recession-fighting spending programs.
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