Economists say the stimulus didn't help - Apr. 26, 2010The 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,
The vast majority (73%) of respondents reported the fiscal stimulus enacted in February 2009 has had no impact on employment to date. While 68% also believe a jobs bill, such as the one recently enacted into law, will have no impact on payrolls, 30% do believe it will boost payrolls moderately.
Economists say the stimulus didn't help - Apr. 26, 2010
Surely to be followed by a "it wasn't big enough" response from the far left. A majority of economists believe that this debt monster failed to provide the boost that was promised.
FWIW, the NABE survey covered an issue far narrower than the headline might suggest. It dealt with employment. The survey did not solicit opinions on the overall macroeconomic impact of the stimulus, for which the IMF stated that it added 1 percentage point to GDP in its recently-released April 2010 World Economic Outlook.
From the summary:
It should also be noted that even if one could not find a direct impact on hiring, there would be an indirect boost related to the overall macroeconomic impact (1 percentage point of GDP) of shoring up/strengthening aggregate demand, e.g., the increased aggregate demand would have reduced the rate of employment losses below what might otherwise have occurred.
73% "felt" the stimulus had no impact.
Opinion polls should be banned. From life.
obama promised unemployment would cap at 8%
Actually, this is a case of both sides being right. I was an economist, but I'm not anymore, so they didn't ask me. But no, it didn't have a very big impact. A few roads got paved and few people no doubt kept or got jobs, but the overall impact was not much. And yes, if they made it 5 trillion dollars it would have made an impact. But the larger issue is that the stimulus was just a terrible bang for the buck. It was a silly thing to do. And spending more would have been a bigger mistake.
Well, now we've heard from a non-Keynseyan supposed ex-economist. Woohoo.
Well, now we've heard from a non-Keynseyan supposed ex-economist. Woohoo.
Job creation was a primary selling point of the stimulus.FWIW, the NABE survey covered an issue far narrower than the headline might suggest. It dealt with employment.
As you well know, you don't get something for nothing and gains in GDP now will come at a cost later when either Obama or the next president is forced to raise taxes to pay for this thing.The survey did not solicit opinions on the overall macroeconomic impact of the stimulus, for which the IMF stated that it added 1 percentage point to GDP in its recently-released April 2010 World Economic Outlook.
Job creation was a primary selling point of the stimulus.
As you well know, you don't get something for nothing and gains in GDP now will come at a cost later when either Obama or the next president is forced to raise taxes to pay for this thing.
No jobs and lower GDP in the long run.
You need to learn the difference between "projection", and "promise".
how 'bout "said?"
would that be better?
LOL!
Democrat: Obama should not have said unemployment would peak at 8 percent - The Hill's Blog Briefing Room
Thus, we are working to counter a potential total job loss of at least 5 million. As Figure 1 shows, even with the large prototypical package, the unemployment rate in 2010Q4 is predicted to be approximately 7.0%, which is well below the approximately 8.8% that would result in the absence of a plan.1
Job creation was a primary selling point of the stimulus.
As you well know, you don't get something for nothing and gains in GDP now will come at a cost later when either Obama or the next president is forced to raise taxes to pay for this thing.
No jobs and lower GDP in the long run.
Economists say the stimulus didn't help - Apr. 26, 2010
Surely to be followed by a "it wasn't big enough" response from the far left. A majority of economists believe that this debt monster failed to provide the boost that was promised.
Before I even read this piece I want to know what kind of jackass 'economist' would even make that assertion less than five years in *and* before the entire package has been put into effect.
Are they making predictions or committing professional suicide by rendering a final opinion no legitimate economist would make this early?
1984 said:This is the main failing of Keynesian economics, i.e., it is overly concerned with short run economic conditions - it fails utterly in the long run.
Are they making predictions or committing professional suicide by rendering a final opinion no legitimate economist would make this early?
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