Economists Oppose More Stimulus
WSJ
Most economists believe the U.S. doesn't need another round of stimulus now despite expectations of continued severe job losses.
Just eight of 51 economists in The Wall Street Journal's latest forecasting survey said more stimulus is necessary, suggesting an average of about $600 billion in additional spending. On average, the economists forecast an unemployment rate of at least 10% through next June, with a decline to 9.5% by December 2010.
"The mother of all jobless recoveries is coming down the pike," said Allen Sinai of Decision Economics. But he doesn't favor more stimulus now, saying "lags in monetary and fiscal policy actions" should be allowed to "work through the system."
Like most respondents, Mr. Sinai said the bulk of the stimulus wouldn't be felt until 2010. When asked how much the stimulus has helped the economy, 53% of respondents said it has provided somewhat of a boost but that the larger effect is still to come.
(Continued here.)
Powered by Blogger
1 Comments:
The Porkulus is a train-wreck… these jobs figures are far worse than the ones the White House warned us about if we DIDN’T pass the bill- so it was passed, and then unemployment soars anyway?
Instead of creating jobs, interest rates were bumped up, the dollar slid… and it didn’t help anybody get any work. Much of this is due to the fact that Obama’s agenda has mortified almost every source of job-and-growth creation in the country.
The Dear Leader couldn’t deliver the type of “temporary, targeted, and timely” bill that he promised repeatedly. Regardless of his image in the MSM, Obama simply lacks the the political stature to control Pelosi and Reid… who hit the trough hard, while bickering like children.
And the lack of GOP co-conspirators exposed Obama politically… this legislation now looks to be a HUGE gamble. And when all this pork-n-welfare fails to generate any real economic gains, the Democrats face a bloodbath in 2010.
http://reaganiterepublicanresistance.blogspot.com
Post a Comment
<< Home