Fiscal Stimulus Concerns

An editorial published in the Financial Times expresses optimism at the new President's plan for making sure that the United States only suffers a shallow recession, but also expressed concern in problems that could present themselves, and in the limitations to any stimulus attempt not just with the US but also world response.
It agrees with the size of the plan, if for no other reason than that the US is very big and would likely have/need a large stimulus, and partly because monetary policy is at or near its limits. Fear has siezed the credit markets, and the benefits of the lower interest rates have limited effect.
They also are concerned that while the US has the luxury of borrowing vast amounts without investor fear of a destablizing currency, they don't want to see the limits of this tested as the result could be devastating.
They want to see some of the stimulus be in the form of federal aid to states in order to balance their budgets. Also, lowering payroll taxes and rebates would directly help those most effected.
Finally, they warn that this is a global slowdown, and the US shouldn't be too optimistic, that while there may be success at managing the worst of a recession, growth may lag as the rest of the world will be slower to pull itself out of the downturn.