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29% Say Stimulus Plan Helped the Economy, 43% Say It Hurt

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Filed: Timeline

Just 25% of voters nationwide believe the economic stimulus package created jobs and voters are counting on decisions made by business owners more than government officials to create the jobs needed by the nation.

Those results come from a Rasmussen Reports national telephone survey conducted the night before release of the government report on job creation in June. That report showed the unemployment rate falling to 9.5% but also showed that just 83,000 private sector jobs were created.

The new survey found that just 29% believe last year’s economic stimulus plan has helped the economy while 43% believe it hurt. Not surprisingly, there is little appetite for another round. By a 69% to 15% margin, voters believe tax cuts is a better way to create jobs rather than more government spending.

Ultimately, though, voters are looking to the private sector to create jobs. Sixty-five percent (65%) say that decisions made business owners seeking to grow their business will do more to create jobs than decisions made by government officials. Just 23% expect the government officials to have a bigger impact.

While many in Washington, DC believe that federal spending and deficits should be increased to help the economy, most Americans disagree. In fact, most believe that cutting government spending and cutting deficits is good for the economy.

Other recent polling has found that 82% of Adults nationwide believe it’s important to cut the federal deficit in half by 2013. However, just 23% believe that’s even somewhat likely to happen. Americans clearly prefer that the deficit cutting be accomplished primarily by cutting spending. But Americans believe that Congress is more likely to raise taxes than cut spending.

Only 18% of Americans are willing to pay higher taxes to lower the federal budget deficit. The U.S. government deficit is projected to hit $1.6 trillion next year, reportedly the largest in the world. A majority of federal spending is consumed in just three areas—Social Security, National Defense, and Medicare. However, just 35% of voters understand this fundamental budget reality.

“These figures highlight a massive failure of leadership from both Republicans and Democrats among the nation’s political elite,” says Scott Rasmussen, president of Rasmussen Reports. “Given the amount of political chatter about the budget in recent years, it is almost beyond comprehension that neither party has seen fit to highlight the basics so that the American people can make reasoned choices on the fundamental issues before them.”

The Rasmussen Employment Index shows that 18% of workers report their employers are hiring. Twenty-one percent (21%) report layoffs.

Consumer and investor confidence is down slightly from the beginning of 2010.

http://www.rasmussenreports.com/public_content/business/economic_stimulus_package/july_2010/29_say_stimulus_plan_helped_the_economy_43_say_it_hurt

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