John Maynard Keynes FTW!

Buying $600 Billion worth of debt is probably the right move. Put more money into the economy, people will buy more stuff, and businesses will make more stuff, and have to hire more people in order to do so. This works. The standard right wing response is that pouring money into the economy will lead to massive inflation and we'll end up like Weimar Germany. The important difference, of course, is that one of the problems with this economic downturn is deflation, not inflation. The problem is not that prices are too high, it's that nobody has any money so there is little demand in the economy resulting in prices being too low. Inflation is not what people should be afraid of. We need more inflation.

Sure, the US Dollar has sunk a little in comparison to other currencies, but the fact remains that jobs aren't growing because people aren't spending, and people aren't spending because they are broke.