Will stimulus package help US

I read the stimulus package announced by Obama few days back , it was an irony for a country which boasted itself about free economy,liberalisation,customer the king attitude resort back to protectionism. In website I read I came across a clause in the package

USE OF AMERICAN IRON, STEEL, AND MANUFACTURED GOODS
(a) None of the funds appropriated or otherwise made available by this Act may be used for a project for the construction, alteration, maintenance, or repair of a public building or public work unless all of the iron, steel, and manufactured goods used in the project are produced in the United States.
(b) Subsection (a) shall not apply in any case or category of cases in which the head of the Federal department or agency involved finds that—(1) applying subsection (a) would be inconsistent with the public interest;(2) iron, steel, and the relevant manufactured goods are not produced in the United States in sufficient and reasonably available quantities and of a satisfactory quality; or(3) inclusion of iron, steel, and manufactured goods produced in the United States will increase the cost of the overall project by more than 25 percent.
(c) If the head of a Federal department or agency determines that it is necessary to waive the application of subsection (a) based on a finding under subsection (b), the head of the department or agency shall publish in the Federal Register a detailed written justification as to why the provision is being waived.
(d) This section shall be applied in a manner consistent with United States obligations under international agreements.

This is more like saying to the companies we will give you car loan and we will choose you the car. Now if the quality of the product is not worth price the customer wont buy them. So naturally corporations will think twice before using the money for building infrastructure.They have limited options to spend this amount.

Job creation is possible when one makes a product has reach throughout the world not only in America,that's why corporations like Microsoft,coco cola were minting money.Now when US brings protectionist policies barring imports(products like iron and steel) across the world,this will have a counter reaction where its products wont be sold in other countries esp India and China which forms 1/3rd of the population.

When we look back during the great depression of 1929,the then president introduced some protectionist reforms where by increasing the import taxes,this resulted in chain reaction where all countries increased taxes of US import products.Thereby the depression lasted for more than 10 years.These so called reforms resulted in more job loses than creation.

Lets see whether this package actually helps America