Confession time.(Editorial)

VICE PRESIDENT JOE BIDEN says the administration vastly underestimated the depth of the recession.

And Laura Tyson, economic adviser to President Obama, said last week that the stimulus package approved in February was "a bit too small." She didn't elaborate on what she meant by "a bit."

Most now realize the current recession is probably the worst economic downturn since the Great Depression. Only a few people predicted our current situation. Most never foresaw the widespread consequences we're experiencing today.

The Bush administration got a small stimulus package passed that failed to stimulate much. And the Obama administration persuaded Congress to pass a larger stimulus package this year, but it, too, has failed to produce much impact. Backers of the plan say most of that $787 billion still hasn't been distributed six months after passage.

Looking at the severity of the recession, some are thinking that even that stimulus may not be enough to get the country on the road to recovery.

Will Congress come up with a third stimulus? A number of economists think it's needed, but the idea is not popular with the public, which has seen little come from the vast federal spending so far.

Americans have shut down much of their own spending, but without the demand for goods, the economy continues to struggle. With a decline in taxes from less spending, state governments are hurting. So that leaves the federal government as the only entity left that can spend enough to create jobs and a demand for goods

Is another stimulus needed? Would it work? That's a multibillion (trillion?) dollar question.

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