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.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.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."
Source
Economic poll points to deficits, job woes
Sue Kirchhoff
USA TODAY, Posted 3/25/2004 12:15 AM
http://www.usatoday.com/money/economy/2004-03-25-econ_x.htm
Thursday, March 25, 2004 | 06:57 AM | Permalink
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