Budget Deficits and a Weak Job Market


The latest National Association for Business Economics (NABE) survey came out last night. Not surprisingly, the major concerns are deficits and lack of job creation:

“Soaring budget deficits and a sluggish job market are the main threats to the economy this year, while possible terrorist attacks are a continuing worry, according to a survey of business economists released Thursday.

Most of the 203 members of the National Association for Business Economics, responding to the March 1-5 poll, said global competition was not hurting the economy, despite attention to “outsourcing” jobs abroad. More than 60% said free trade was having no impact on jobs, 31% called the effect small and 9% said it was a significant problem.

Seventy percent in the business economists’ poll said Fed policy was about right. But those worried it is too stimulative rose to 28% from 9% last March. About half said rates should rise in the next six months, and 77% wanted tighter federal budget policy.”

Note that the poll was conducted prior to the Madrid bombings. That may have impacted terrorism sliding from the number one concern in 2003 to #3 this year.

Economic poll points to deficits, job woes
Sue Kirchhoff
USA TODAY, Posted 3/25/2004 12:15 AM  

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