Krugman

I'm not an economist, but I read Paul Krugman. I might stop doing so if he keeps posting stuff like.

I’ve been ruminating over economic prospects for next year, and I’m getting scared.

Krugman was one of the few sending warning signals on the economy back in the days when it was still cool to mock those worried about a housing market collapse.

He also brings up a good point that not many people have mentioned.

Infrastructure spending will take time to get going

The mix of good news/bad news here is that while there appears to be enough agreement to get some type of stimulus package done, it isn't likely to happen until Obama takes office. From all appearances the package Obama envisions is one heavy in infrastructure and R&D initiatives towards 'green' energy. The Obama camp is clearly thinking big and looking at both short and long term benefits. The problem is that states are not going to get their slice of the pie and head out and start building roads the next day so even the short term benefits of a stimulus package are unlikely to be felt for awhile.