In addition, says Morici, the need to offset the costs of such stimulus could negate some of the intended effects. "If you have to pay for it with savings in other places, the job creation effects will be very tiny. If you create an investment tax credit or hiring tax incentive, you lay off workers. My feeling is that, on a net basis, these programs will not generate very many jobs."
Before any of that can be seen, however, Congress would have to pass the president's proposals.