Monday, April 26, 2010

Economists: The stimulus didn't help

This from CNN, a traditionally left leaning, or government leaning news outlet...

Economists: The stimulus didn't help

By Hibah Yousuf, staff reporter

NEW YORK ( -- The recovery is picking up steam as employers boost payrolls, but economists think the government's stimulus package and jobs bill had little to do with the rebound, according to a survey released Monday.

In latest quarterly survey by the National Association for Business Economics, the index that measures employment showed job growth for the first time in two years -- but a majority of respondents felt the fiscal stimulus had no impact.

NABE conducted the study by polling 68 of its members who work in economic roles at private-sector firms. About 73% of those surveyed said employment at their company is neither higher nor lower as a result of the $787 billion Recovery Act, which the White House's Council of Economic Advisers says is on track to create or save 3.5 million jobs by the end of the year. [created (no) or saved(nope) or lost(yes!)]

That sentiment is shared for the recently passed $17.7 billion jobs bill that calls for tax breaks for businesses that hire and additional infrastructure spending. More than two-thirds of those polled believe the measure won't affect payrolls, while 30% expect it to boost hiring "moderately."

... The survey suggested that tight lending conditions remain a concern. Almost half of those polled said the credit crunch hurts their business. To top of page


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