Apparently, the New York Times' editors think the stimulus isn't big enough:

Mr. Obama had it exactly right on Thursday when he warned against reducing “the scale and the scope” of the economic measure. If anything, the government should be more ambitious in its spending on economic stimulus, recovery and growth.

Peter Schiff: Stimulus Bill Will Lead to "Unmitigated Disaster"

Schiff scoffs at the notion the economic decline is starting to level off and concedes no government action means a "terrible" recession. But the path of increased government intervention will lead to "unmitigated disaster," says Schiff, who gained notoriety in 2007-08 for his prescient calls on the housing bubble and U.S. stocks.

If we don't act, it's still going to be terrible. If we do act, it's going to be an unmitigated disaster.

Follow the link for a good video laying out the situation and the consequences of what they're planning on doing.

Here's an analogy of what we're up against:

Over the last 12 months, I have changed my lifestyle. I run 2 miles every weekday, do some weight training, eat a diet based on lean meats, vegetables, whole grains, and fruits. I was overweight and borderline obese for about 12 years. And that was never going to change unless I changed what I was doing. There was no magic pill, no easy solution.

There are a lot of Americans who are in the same boat. The statistics are scary. Jamie and I started watching the Biggest Loser a couple of seasons ago and it's interesting to see how many dozens of pills a day some of the contestants were taking. After 2 weeks on the show, they were able to stop taking almost all of them. But it takes some hard work and sacrifice to get there.

It's the same thing with finance. I'm a big Dave Ramsey fan (though I don't agree with everything he says 100%—I think there's value in owning gold, though I can't get Jamie to buy into that. It's a hedge againt the inflation that is inevitable going to render your $1 worth $.50). We have been living on debt instead of on a solid financial footing. We have been gaming the system. Those in charge in Washington will quote Keynes and his "Paradox of Thrift," which states that saving is bad and it negatively affects the economy. The problem is that our economy is based on people being in debt.

This essay from John Hasnas, an associate professor at Georgetown U, does a good job of laying our how frustrating it can be to be a libertarian:

If you’d like a taste of what it feels like to be a libertarian, try telling people that the incoming Obama Administration is advocating precisely those aspects of FDR’s New Deal that prolonged the great depression for a decade; that propping up failed and failing ventures with government money in order to save jobs in the present merely shifts resources from relatively more to relatively less productive uses, impedes the corrective process, undermines the economic growth necessary for recovery, and increases unemployment in the long term

Hang on folks... this may get worse. If you have a good job, count yourself lucky.