Survey Says Government Stimulus Has Failed

By yet another measure “the economic stimulus they foisted on us has been one big letdown.” A recent IBD/TIPP Poll shows that 66 percent of total surveyed respondents feel stimulus fell short of their expectations in creating jobs.

It’s not groundbreaking news given that expectations were initially for about 8 percent unemployment and the US is now over 10 percent. Still, as the article points out “it is worth noting for those in the administration and Congress who still think all the people can be fooled all the time.”

It’s also no surprise that 80 percent of Republicans are not in support of the bailout given that not a single Republican member of the House voted for the legislation.

Interestingly, the disappointment doesn’t seem completely dependent on party affiliation. About 48 percent of Democrats say the stimulus fell short of expectations versus 45 percent that felt postively about it. Independents were strongly disapproving, with 73 percent deciding stimulus has fallen short of expectations.

Of all respondents 56 percent overall indicated “they are not confident it will create jobs in the next six months.” Neither are we. The full results of the IBD/TIPP Poll are available on in its coverage of the $787 billion flop.

The Daily Reckoning