Do We Need Obama's Stimulus Plan?

So we find out, at least according to the Congressional Budget Office, that only $136 billion of the $355 billion in proposed infrastructure spending would actually be spent by the end of 2010. Yet we are in a rush to approve it. Maybe it's time to look at all the other factors that will boost the economy, courtesy of Dan Clifton, superanalyst at Strategas:

With the average price of a barrel of oil at $99 in 2008, stable oil prices in 2009 could “save” the U.S. economy almost $450 billion dollars.  Similarly, the decline in conforming mortgage rates could provide an additional $135 billion stimulus.  Additionally, nearly $170 billion in proposed tax cuts for individuals, delivered through the withholding process, should help consumers work towards stabilizing their balance sheets.