CLARKONOMICS: Our nation is fast accelerating into a state of deceleration. More than 3 million people lost jobs over the past year. Meanwhile, our new unemployment rate is 7.6%.

It's been a false economics of borrowed money that had boosted our economy in recent years. Our family debt now sits at 141% of our annual family income. Only 30% of us own our own home free and clear. And it's not just the households. The government and corporations both borrowed quite heavily.

Clark is not a fan of the concept of stimulus packages. If the problem is that we owe too much money, we don't solve that by having the government turn around and borrow, right?

So what do we do? Well, the economy has to be given time to correct. In the meantime, we've got to cushion the blow the unemployed are feeling with extended jobless benefits and more money for food stamps. Basically, Clark argues that we need to bolster programs that provide a social safety net.

We're only hurting our long-term chances of recovery if we spend a fortune on a stimulus package right now.