Stimulus had no impact
That’s according to a survey of the members of the National Association for Business Economics (NABE):
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.”
The point, of course, is these are the people who would have seen any such positive impact within the market created by both the stimulus and the “jobs” bill. Almost 3/4s saw no effect whatsoever. That’s because the stimulus, among other things, was ill conceived, ill timed (if you’re going to do it, you don’t pay “stimulus” out over several years) and despite what President Obama said, almost 100% pure pork.
So apparently, as the recovery begins, it will be under its own steam and without the impact of any government “stimulus” spending.