Associated Press Agrees That Stimulus Bill Won't Work -- Not Soon, Anyway

I'm surprised that the mass media, and especially the AP, would say this:

No, the big stimulus plan won't "save or create 3.5 million jobs," as the president and congressional Democrats claim -- at least not this year.
The economy will remain feeble through 2009, analysts warn, and businesses will keep shedding jobs, though not as many as they would have without the $789 billion boost.
What it won't do is quickly snap the country out of the painful recession, now in its second year.
But even with the stimulus, many economists predict a net loss of 2 million, 3 million or even more jobs this year. The recession already had cost 3.6 million jobs through January. The unemployment rate, now at 7.6 percent, the highest in more than 16 years, will probably hit at least 9 percent by next year.
Mark Zandi, chief economist at Moody's Economy.com., estimates the bill will create just more than 2 million jobs by the end of 2010. The problem is, the recession will probably wipe out many more jobs than that. Zandi's prediction: 6.5 million jobs will disappear.

Make Zandi, by the way, is the economist that was called to testify before Congress in favor of the stimulus package, and was cited to suggest that the bill would create millions of jobs. He sure has changed his tune now!

Here is the full article:
Analysis: Stimulus Won't Jump-Start Economy