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"A warning light is flashing on the dashboard of our economy, 

and we can't just drive on and hope for the best" 

George W. Bush (2001)

The primary argument Republicans seem to be voicing against Obama's stimulus package seems to be it's price tag, now hovering just under $800 billion.  While $800 billion DOES seem to be a hefty price tag, the Republican Party didn't seem to have any problems with the $1.3 TRILLION package proposed in 2001, when the unemployment rate was nearly half what it is today, and the foreclosure rate at 0.48% as compared to 1.19% today.

Paul Krugman on Thursday said it best on Thursday in the New York Times:

Count me among those who think that the president made a big mistake in his initial approach, that his attempts to transcend partisanship ended up empowering politicians who take their marching orders from Rush Limbaugh. What matters now, however, is what he does next.

It’s time for Mr. Obama to go on the offensive. Above all, he must not shy away from pointing out that those who stand in the way of his plan, in the name of a discredited economic philosophy, are putting the nation’s future at risk. The American economy is on the edge of catastrophe, and much of the Republican Party is trying to push it over that edge.