Nobody knows whether it will work, but plenty of people are gearing up for a spending spree, though judging by most of the local paper coverage (for instance this or this) the stimulus bill is hardly a charter for a splurge on useless projects that benefit no-one.
The real question is whether the money will surge into the economy or drip in. The latter is probably no good.
As for the Republicans, well they have taken a gamble and it is at least possible that the result will be a time in the wilderness as the nation recovers and names newly-opened schoolrooms and roads and smartgrid emporiums after Barack H Obama...
Or there again, if that doesn't happen, Republicans could find themselves back in fashion, though only if they have something to say - this advice (don't filibuster and play nicely) is surely wise.'