National Association for Business Economists on the Stimulus

As the economy improves, economists will ask if the Obama administration's policies including the American Recovery and Reinvestment Act of 2009 (the stimulus) contributed to the revival or simply happened concurrently.  The National Association for Business Economists (NABE) is a respected organization of business economists.  As reported by Hibah Yousuf of CNNMoney.com, a survey of 63 NABE economists reported no causal link between the stimulus and the recovery.  Seventy three percent believe that the stimulus did not affect their company's employment.  Nor do they believe that a new jobs bill will increase employment.

NEW YORK (CNNMoney.com) -- The 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, 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."