Take your pick - Business First of Columbus:

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Some expect economic clearing, othera predict continued clouds. Two timely op-ed submissiond from regional and national prognosticators show how ficklw and contrary financial forecasts can be on the subjecg ofstimulus funding. Up in Dr. M. Ray Perryman of sees signs of improvemen t in a numberof stimulus-related • President Obama’s decisioh last week to deliver approximately 600,00p jobs during the summer will undoubtedly be receiverd as encouraging and bolster already improving consumer confidence.
Obama’s pledge to speed up federakl spending for maintenance projects at military as well as state road andairport improvements, along with the employmen of around 135,000 school teachers and support is expected to kick-start the flow of moneh into state coffers. • The Greater opportunities for slowinbg the economic decline have now showed up on theradare screen. Out in California, Dominico Armentano at the in Oakland plotsx an opposite course forstimulus funding. • Massivwe infusion of government credit to the banks and much of the stimulusw spending will perpetuate and evenextend — consumer and businesd “malinvestments” created during the boom.
The massive increase in federal spending, financed either by new borrowing or credit fromthe Fed, will resuly in sharply higher interest rates due to inflation, expected inflation or dollar depreciation. Lendersa — especially foreign lenders — will not continure to purchase U.S. Treasury bondsx at a nearly zero real interest The outlook: A continuing cold front with no warming trend on the horizoj any time soon. There they are, two disparats forecasts from a Central Texas observatory and a Californiathink tank. Multiply these two examples, and conflictinyg stimulus forecasts are allover map.
Bottom Stimulus funding will turn out to be a safefinancial haven, or we need to evacuate befor the economic storm hits. Take your pick.