Nobel Prize winning economist and Columbia University professor Joseph Stiglitz responds to the bailout of Spanish banks. His new book is called the "The Price of Inequality: How Today's Divided Society Endangers Our Future."

We're all witnessing a historical moment in the Middle East, as Libya prepares for the end of Moammar Gadhafi’s rule. And while the revolution that has taken six months to occur is in many ways remarkable, Americans may also be in the midst of our own, quieter moment in history: a lost decade. The recession has made it so that young people in particular are having a very difficult time beginning their careers, starting families and buying homes — so they're delaying doing those things. The unemployment rate is hovering at 9.1 percent, and for people between the ages of 16 and 19, it was 25 percent in July. For those ages 20-24, it was 14.6 percent.

As the President makes his case for his economic stimulus bill, we were wondering what economists thought of the plan to dump $800 billion into the economy. Will it work? What would Keynes think? So many questions! For answers we turn to Nobel Prize winning economist and Columbia University Professor Joseph Stiglitz for his thoughts on the pros and cons of President Obama’s economic stimulus plan.

President Barack Obama discusses his view of the $800 billion stimulus bill.