I like Obama in general, and it may be true that the stimulus will help the economy in the short term. But so far this crisis doesn't look the same as the Great Depression all over again. I think we would survive without the stimulus. I don't like to see so much being added to the national debt. The stimulus is a shot in the dark intended to maybe have some effect on the short-term problems, but it will definitely cause predictable, long-term effects. The national debt is going to be a really big problem someday.
In particular, our relationship with China is that we import goods, and export debt. This cannot go on forever: our credit rating as a nation will be reduced over time if we keep doing that. And our relations with China are friendly only to the extent that we depend on each other: if it were not for all the trading, the ideological differences would loom larger. So when China eventually finds that they don't need us so much, relations will sour, they will stop buying our debt, and some kind of conflict may develop, depending on how China's own government evolves over time.
When that happens, we will not be in a very good position if we already owe them too much of our national debt - that is, debt which we never intend to repay. In the last 100 years, there were only a few years in which we made progress in paying off the principle of the loan; the rest of the time we just paid the interest.
The country needs to do the same thing that every individual household needs to do: become self-sustaining again. I still have much more faith in the free market to efficiently create wealth, than I have in the government to figure out the right places to spend money, and hope that for every dollar they spend, there will be a multiplicative effect. They themselves don't know how to predict those multiplicative effects, which is why the stimulus bill consists of a random assortment of pork. They can't decide what will work, so they do a little of everything they can think of. Most of it will end up being wasted money, I think.