I've spent much of the day studying for my economics final. I'll be doing much the same for all of tomorrow and much of Monday.
Economist Marc Weidenmier of Claremont McKenna College said the stimulus package would do little to transform the country's infrastructure or economy.
"You might be able to do a couple of small-scale projects, but to think you can transform the U.S. infrastructure in a couple of years is ridiculous," he said.
. . .
Obama said his economic recovery plan would save or create at least 2.5 million jobs.
But Weidenmier said it is a "pipe dream" to think investing in infrastructure will lift the economy or create jobs.
"The infrastructure in the United States needs to be redone. It has an economic payoff," he said. "The problem is the economic payoff is in decades, not 24 months."
Politics and bureaucratic red tape will keep the money from being spent immediately and effectively, he said.