The point, and there was one...
The CBO seems to think that the recession will work itself out in about a year under the current conditions without dropping a trillion dollars of borrowed money into the mix. In the long run, this seems to be a better idea.
Not only that, but once businesses, states, and localities realize that they're on their own, and that the Federal government isn't going to play sugar daddy, they might actually make some of the hard decisions they're avoiding right now.