"Markets go through corrections all the time," said Lydia Ortega of San Jose State University. She argues that right now the "markets need to go through this correction."
That's a reason these economists oppose the bailouts. For a market to recover, they say, it must discover its true bottom and cleanse itself of poor investment decisions. So don't bail out failing companies, let them fail, they say.
These skeptical economists also pointed out that all this government action prevents market self-correction because it causes widespread uncertainty among investors.
"They don't know what these characters in Washington are going to do," said Howard Baetjer of Towson University. "It's not clear which firms are going to be bailed out, and which ones are going to get an extra check, so investors wait and see."
In a sense, it seems as though "what they want to do is re-bubble the economy," as George Mason University economist Donald Boudreaux said. And when that bubble was created by lots of debt, should the answer be more debt?
"Most economists believe that's the case," said Majority Leader Hoyer. But shouldn't the bubble be allowed to completely pop and grow back on its own?
"Well, sure. And it's in the process of doing that. But that doesn't mean you just have to wring your hands and say 'You're on your own,'" Hoyer answered.
But what if more government action only causes more damage? It seems like the stock market plunges nearly every time there's an announcement of more intervention.
"It's the government's own policies that contributed to the bubble," argued Suffolk University economist Ben Powell. "The government's not the answer to it."
In order to finance all this spending, the government "either has to raise taxes or print more money," pointed out economist David Tuerck. But printing more money creates inflation, and that makes each dollar worth less. This can cause great harm to the average consumer.
If we continue to print more money, "we will look like 1920s Germany where you had to take a bushel basket full of money to the store in order to buy a loaf of bread," said Tuerck. "This represents a huge burden on future generations that we can't fix, except by printing more money, and that's where we're headed."
When asked whether massive government spending could result in such hyperinflation, Majority Leader Hoyer replied: "We hope it doesn't."
Despite all the issues brought up by opponents of the stimulus, the government doesn't seem to be thinking twice about hastily spending so many tax dollars. You'd think lawmakers would be absolutely certain that this will solve the crisis.
But is Hoyer sure that all this spending will definitely work?
"I hope so," he said.