Other broad reasons:
1. It doesn't rely on individuals to employ their own creativity and initiative to find ways out of the current economic crisis that will provide a more stable, long-term, well-rooted economic recovery.
2. The bill is being passed too quickly without adequate debate or scrutiny or fine tuning. President Obama is also seemingly creating an emergency atmosphere (ADDED: Check) to try to ram the package through - while blocking Republican input - so he can take more credit for the pork that the bill will ladle out to many parties.
3. The spending entailed is not focused on stimulating the economy as far as quickly jump starting the economy in the short-term.
4. The massive spending promises to saddle my generation with a government racked by debt for decades down the road.
5. The reason linked above: the deluge of federal spending in traditional state areas like education will radically alter our balance of federalism beyond even Bush's missteps in that direction.