The stock market has risen over 40% from the March lows. While the administration is sure to take credit for the market, they should do so cautiously. Since only a very small part of the stimulus package has been spent, it seems hard to contribute much of the success to that.
It is more likely a regression to the mean; the market was just severely oversold from the credit disaster of last fall. There is also tremendous liquidity in the market with over 3.5 trillion dollars in money market funds. Rather than tie success to the stock market within a short term period we should look at employment and capital investment. Perhaps this recession has just run its course as others have and the markets are repairing themselves by shedding costs and reducing debt and inventory.
If card check, cap and trade, extravagant debt and the health care issues affect our economy (as I believe they will) we are still early in the game and this may seem temporary. But if the recovery is real and we are getting it after spending only 10% of the stimulus package; it would be wise to cancel the rest of it.