As others have pointed out, we were screwed in the long term anyway. We (1) ran deficits through the previous decade, (2) we left the interest rates too low fo

As others have pointed out, we were screwed in the long term anyway. We (1) ran deficits through the previous decade, (2) we left the interest rates too low for too long and (3) we went on a spending binge in all levels of society (consumers bought too much, banks lent too much). The time for making the correct choices has long passed. Now there are only bad choices and worse choices. If we hadn't done (1) and (3), then running deficits right now would be a good option. After a certain point, increases in debt begin to dampen growth in GDP, which means that the gov't won't be able to stimulus away the problem anymore. In that light, the current administration is merely doing what makes sense. Spend whatever amount of stimulus makes sense during their tenure because the economy will need it whether it's now or later. Not spending it will mean that whoever is the challenger in 2012 may well win, and whoever the challenger is will probably dish out stimulus money in some form or another anyway.