While most people in a position of power agree an economic stimulus plan is needed, some are questioning whether or not it will work. The nation doesn’t even have a stimulus plan yet and some economists are raising red flags.
Talk about raising on the President-elect’s parade.
Economists say a stimulus package is desperately needed. Politicians from both parties insist it’ll happen quickly. However, no one can say with certainty that $775 billion of government spending will return the economy to health.
Defining whether a stimulus package will work depends on how success is defined.
President-elect Barack Obama has said the stimulus plan is intended to create jobs. So he’ll be measuring success in part, it appears, by the number of jobs created.
Some of the brightest minds who study the economy, however, think that even with a massive stimulus plan, there’d still be staggering job losses.