Can Obama Save The Economy?

With the United States having lost 2.6 million jobs last year -- the highest number since 1945, with 524,000 layoffs in December alone -- many are looking to President-elect Barack Obama’s $775 billion stimulus plan to pull the American economy out of the doldrums.

The plan centers on income tax breaks, infrastructure projects and payouts to companies that create new jobs. It's certainly among the most ambitious of its kind, but as the recession grows global, and U.S. companies find themselves at the mercy of a worldwide financial crunch, one begins to wonder whether one nation’s President can rein in the world’s receding tide.

So what do you think? Can Obama’s plan turn the economy around, or is this just too severe a slump?