"Pelosi Pushes Two-Part Stimulus"

Speaker of the House, Nancy Pelosi, poses a two-part economic recovery plan with a compare-and-contrast style view of President-elect Barack Obama's targeted views of a recovery plan during his campaign. Her proposed plan entails an immediate package to try to boost the economy, and then a second attempt with a permanent tax cut when Obama is sworn in. Her plan, however, does differ from Obama's campaign goals.


For an immediate boost, Pelosi wants to impose a $60 to $100 billion stimulus package to go into effect this month. She wants to impant the immediate spark because of worsening unemployment rates in the US, the wavering stock market, and falling house prices. She believes that during the lame-duck period between Bush's last days in office and Obama's first term are the time to act to ensure some sort of recovery. Pelosi says, "Let's see if we can't do something, working together now, that gives us a two-month jump," she said. "We'll take the longer view as soon as we take over in January"(http://http://online.wsj.com/article/SB122600310456906045.html). Of course economic recovery is the direction that we should be going in, but is $60 to $100 billion in new spending the way to do this? Would Obama be going against one of his main arguments about McCain's raising of the national debt if he supported this plan?
As for the second part of the recovery plan, Pelosi wants to create a permanent tax cut. This is where she differs from Obama. Obama wants to give tax cuts in the form of a rebate check for middle class Americans making less than $250,000 per year (http://http://www.barackobama.com/issues/economy/). Pelosi's plan is to give a tax cut instead of a rebate because it will boost the economy quicker. She believes that a tax cut puts money in the hands of Americans quicker than a rebate would. Obama meets with his newly appointed economic team of advisors today, so the two will have to come to an agreement about which will help the economy efficiently and effectively.

The following is a video that explains the unemployment crisis along with other hardships in the United States: http://online.wsj.com/video/jobless-rate-shows-more-labor-woes/CA4CB65D-B02B-401F-ACDA-003EFD2282C4.html
With unemployment rates getting worse, a plummeting stock market, and harsh economic times not only in the US but around the globe, do you think the new spending of $60 to $100 billion for fiscal spending will help the economy immediately, and if so, will it only help in the immediate but harm in the long run due to the national debt? Which do you feel will spark the economy more efficiently: a tax rebate check as proposed by Obama, or a tax cut as proposed by Pelosi?