CBO projects $1.2 trillion deficit for 2009

The Congressional Budget Office is projecting a $1.2 trillion budget deficit for the fiscal year that ends in September. The projection does not take into account any stimulus measures that President-elect Obama and Congressional Democrats may propose. Which raises the question: Isn't $1.2 billion enough of a stimulus? Add to that the measures that the Federal Reserve has taken which have increased its balance sheet from $900 billion to more than $2 trillion. Surely enough has been done. Isn't it time to remain calm and let the stimulus work?