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.
Not surprising, considering that a variety of economic indicators show that the economy is still stumbling along. Gross private investment (GPI) and consumer confidence is still way below trend. And it has everything to do with government meddling into the economy. The latest survey of small businesses point to the government as its chief obstacle to growth. Only 30% of businesses cited poor sales as their primary concern.
As long as Congress continues to increase the cost of normal operation, we will continue to see anemic growth that even Democrats shouldn’t have the balls to hang their hat on. Leave the market alone, and it will work itself out.