According to the National Bureau of Economic Research, economic recession began in December 2007, and many experts believe that the U.S economy will contract in the first half of 2009 and grow modestly in the latter part of the year. Many politicians are calling for another round of economic stimulus plan and ways to restore confidence in the financial and credit market.

There have been a few “free market” orthodox politicians and commentators that criticized the government stimulus plan, but these individuals seemed to forget that Keynesian economics, not the classical free market school of thought, saved this country from the Great Depression. There is a debate between the advocate for stimulus and the confused on this issue.

This is a great moment in history where politicians are forced to stand down on their ideological principles (Even though many of them do not truly understand what those principles entail or worse, mean) and listen to the advice of the academics, the economists, to solve this complicated problem. If the President-elect decides to truly implement a comprehensive economic rescue plan (The best one there can be), then the news media would have a tough time explaining what the solution is and what effect it has on the economy, unless the public already has some knowledge on Macroeconomics.