You just need to keep the thing from crashing...worry about taking it new grand new heights later.
That is exactly what he is doing. Obama himself has said that our budget is unsustainable. He is very aware of the current situation, and has acted accordingly. Recovering from a recession takes time, and the current one is pretty deep. But hopefully with help from the stimulus we will emerge stronger on the otherside. Then we can tackle the budget again, but right now we don't have many options.
Since you brought this up. What would you have done? What's your solution? Why do you criticize the spending while offering no alternative?