Creighton University economist Ernie Goss warns another government "stimulus package" in the new year may worsen the economy’s downward slide. "The last stimulus program earlier this year did not really have its impact," Goss says. "In other words, individuals or families took that money and saved it or paid off debt."

Goss says there’s a danger in government overreaction to the recession. "Recessions are painful and we’re trying to avoid any pain," Goss says.

Goss is also concerned about the notion — advanced in September by the outgoing Bush Administration — that some American companies are just "too big to fail." Goss sees "real problems" in drawing a line. "Who’s going to line up next to get their bailout — www.ErnieGoss.com? I’m ready for my bailout check," Goss jokes.

According to Goss, one reason the economy’s not bouncing back is because some of the banks which were bailed out aren’t lending money. Iowa State University David Swenson agrees. Swenson says there’s evidence some banks are "hoarding" funds. "They’re holding it back and then there’s the suspicion the more they hoard the money it’s just an indication of how weak they are," Swenson says. "…There’s too much uncertainty out there and without being able to quantify that, they’re being very conservative."

Swenson believes the "magnitude" of the economic downturn hasn’t been fully revealed. Swenson and Goss made their comments during an appearance on "The Iowa Journal" on Iowa Public Television.