Robert Higgs gives the history lesson on why the government should do nothing. He also inadvertantly explains why I said the left will cause this depression, for their actions are quite similar (but much larger) to another period in time:
...Hoover responded to the downturn of 1929 by raising tariffs, propping up wage rates, bailing out farmers, banks, and other businesses, and financing state relief efforts. Roosevelt moved even more vigorously in the same activist direction, and the outcome was a protracted period of depression (and wartime privation) from which complete recovery did not come until 1946.
I'm sure many don't realize they are repeating history, but it occurred to me some may. Perhaps some on the left think the coming hardship is the crucible in which they can forge their 'new man.'
Anyway, I urge all to click the link above and get a solid lesson about where we are at. The stimulus plan is not only bad policy, it's unconstitutional policy, which renders this, and most of what comes out of Washington, illegitimate.