During our powerhouse economic panel today on "This Week" Google CEO Eric Schmidt argued Congress needs to pass the stimulus package now.
"The business community needs action now," Schmidt said. "There’s a sense that things are getting worse, people are saying the March quarter, the June quarter are going to be particularly difficult for business. It’s time for government action."
Schmidt argued the stimulus package needs to be a blend of short-term spending and long-term spending.
"There are plenty of cases where directed spending does help things to happen more quickly. The stimulus package — most of the money actually goes to reasonably short-term things in education, state-relief, and various other things that help people in the short-term. Some combination of all that money’s got to get out now to get people going again."