LOS ANGELES — Most Americans believe that the government’s economic stimulus has fallen short of their expectations in creating jobs, according to the latest IBD/TIPP Poll. One outcome of the letdown is that they are not placing their hopes on the stimulus to create future jobs.
A whopping 66 percent believe that the economic stimulus program has fallen short of their expectations when it comes to job creation. One in five (22 percent) say it met their expectations and 6 percent believe it exceeded their expectations.
A majority (56 percent) says that they are not confident that the economic stimulus will create jobs in the next six months with 29 percent saying they are “Not At All Confident” and another 26 percent “Not Very Confident”. Only 43 percent has confidence that the stimulus will create jobs in the next six months.
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The President’s economic advisers cautioned in January that unless Congress passed the $787 billion stimulus package the unemployment rate would hit 9 percent by 2010. They said the stimulus would help the unemployment to level off at 8 percent and then fall.
The unemployment rate hit 10.2 percent in October.
The feeling that the economic stimulus has fallen short of expectations in creating jobs is universal -- 48 percent Democrats as well as 80% of Republicans and 73 percent of Independents think so. By ideology, 76 percent of Conservatives, 60 percent of Moderates, and 48 percent of Liberals shared the feeling.
Only Democrats (73 percent) expect the stimulus to create jobs in the next six months. Most Republicans (84 percent) and Independents (63 percent) are not hopeful.
The job situation may be affecting how Americans grade the President’s handling of the economy. Just over one-third gives the President a good grade -- 13 percent give him an A and 24 percent a B. Majority gives him a C or lower – 22 percent give him a C, 18 percent a D and 22 percent a F.
IBD/TIPP completed the latest poll of 928 Americans on Saturday. The margin of error is +/- 3-percentage points.
ABOUT THE IBD/TIPP POLL
The IBD/TIPP Economic Optimism Index is the earliest take on consumer confidence each month and predicts with 80% reliability monthly changes in sentiment in well-known polls by The Conference Board and the University of Michigan. The IBD/TIPP Economic Optimism Index is based on a survey of 900-plus adults chosen at random nationwide. The poll is generally conducted in the first week of the month.