According to a recent survey put on by the National Association for Business Economics, the stimulus (spending) bill had no impact on creating any jobs. As many critics of the large spending bill stated when discussions where ongoing over whether or not to pass the monstrous bill, the monies were not spent smartly.
To create long lasting sustainable jobs, you must stimulate those that create jobs in the first place. By offering incentives for businesses to replace equipment, take more changes and hire additional labor, everyone wins in the long run. More people are put to work which increases taxes that they are now paying into the government and they also have spending money which they can use to purchase things and create even more jobs for the workforce.
As I have said many times, economics really isn’t rocket science. It is pretty much common-sense. We just have numerous politicans on the right and left that would rather bring the pork back to their communities in order reassure them getting re-elected instead of doing what is right for the country.
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.
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.”
0:00 /1:48Job growth … now what?
But the economists see conditions improving. More than half of respondents — 57% — say industrial demand is rising, while just 6% see it declining. A growing number also said their firms are increasing spending and profit margins are widening.
Nearly a quarter of those surveyed forecast that gross domestic product, the broadest measure of economic activity, will grow more than 3% in 2010, and 70% of NABE’s respondents expect it to grow more than 2%.
Still, the survey suggested that tight lending conditions remain a concern. Almost half of those polled said the credit crunch hurts their business.
~Boo~







