Economists: The stimulus didn't help

C

Cancel 2018. 3

<-- sched 2, MJ sched 1
Economists: The stimulus didn't help

NEW YORK (CNNMoney.com) -- 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."

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%.

http://money.cnn.com/2010/04/26/news/economy/NABE_survey/

this is what i have been saying
 
I am certainly no economist but I find it difficult to believe that spending that much money did absolutely nothing for the economy. I do believe the argument of we didn't get the bang for the buck that we spent.
 
A survey like this is just that - a survey. It's subjective, and even taking the results at face value would indicate that over 25% DID see the stimulus affect their employment (which, to me, is a surprising figure given the focus of the stimulus on a fairly select group of employment sectors).
 
cawacko said:
I am certainly no economist but I find it difficult to believe that spending that much money did absolutely nothing for the economy. I do believe the argument of we didn't get the bang for the buck that we spent.
Click to expand...

1) 65-70% of it still hasn't been spent

2) What was spent was done in a stop gap manner. It did not do much more than stem the bleeding.
 
I got a thousand say's the same group changes that tune later this year. The freaking money is not speant to a large degree. Economist are as anal about needing to see it in the numbers as racist dixie is about calling progressive's socialist.
 
Of fucking course it didn't work. Keynesian spending has never worked before only statist tools would have thought it would. Wait to see the economic affects of paying it back with interest. This was about the easiest economic prediction I ever had to make.
 
Obfuscate said:
Of fucking course it didn't work. Keynesian spending has never worked before only statist tools would have thought it would. Wait to see the economic affects of paying it back with interest. This was about the easiest economic prediction I ever had to make.
Click to expand...


So spending on WWII had no impact on the economy and did not finally bring the United States out of the Great Depression? Really?
 
NigelTufnel said:
So spending on WWII had no impact on the economy and did not finally bring the United States out of the Great Depression? Really?
Click to expand...

By that account Dungheap every recession we should just start a world war right? Keynesian spending went on for 15 years in the depression without working. Recessions end, the depression recession could have ended 14 years earlier. Advancements in technology and stabalization of the money suppy were key.
 
Yurt said:
Economists: The stimulus didn't help

NEW YORK (CNNMoney.com) -- 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."

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%.

http://money.cnn.com/2010/04/26/news/economy/NABE_survey/

this is what i have been saying
Click to expand...


They're retarded.
 
Onceler said:
A survey like this is just that - a survey. It's subjective, and even taking the results at face value would indicate that over 25% DID see the stimulus affect their employment (which, to me, is a surprising figure given the focus of the stimulus on a fairly select group of employment sectors).
Click to expand...

Also, this is just the opinion of the NABA... whatever that is.
 
Topspin said:
I got a thousand say's the same group changes that tune later this year. The freaking money is not speant to a large degree. Economist are as anal about needing to see it in the numbers as racist dixie is about calling progressive's socialist.
Click to expand...


I believe the majority was spent in 2009, and that it peters out sometime this year.
 
Onceler said:
Perfect; and close to one-third of the 68 surveyed said it's having an impact.

It's working perfectly.
Click to expand...


It's entirely unclear what the survey questions asked, whether the specific firm that the economist works for has seen increased employment as a result of the stimulus or whether the economy as a whole has seen increased as a result of the stimulus. Those are two very different questions.

Without seeing the survey question it is difficult to know whether the results are worth a warm bucket of spit.
 
NigelTufnel said:
It's entirely unclear what the survey questions asked, whether the specific firm that the economist works for has seen increased employment as a result of the stimulus or whether the economy as a whole has seen increased as a result of the stimulus. Those are two very different questions.

Without seeing the survey question it is difficult to know whether the results are worth a warm bucket of spit.
Click to expand...

exactly
 
You must log in or register to reply here.
Back
Top