Quick Hit: Stimulus (Again)
All of the handwringing by economists about the stimulus bill is irrelevant. Other than come up with the top line of $150 billion (1% of GDP), this effort was driven by political rather than economic analysts and advisors.
My strong suspicion is that that the expected and much-wanted political boost teh White House and congressional leaders are hoping for won't occur. If the economy goes into a recession at this point the stimulus will be seen as ineffective. If the economy doesn't go into a recession it will be seen as unnecessary.