Washington (CNN) - Most Americans say that the economic stimulus plan has either helped the economy or prevented conditions from getting worse, but only a third see any personal benefit from the stimulus, according to a new national poll.
A CNN/Opinion Research Corporation survey released Tuesday morning indicates that 12 percent of the public feels the stimulus has improved the economy, with 46 percent staying it's stabilized conditions. But 22 percent of people questioned say the stimulus has had no effect on the economy and 19 percent feel it's made things worse.
"But Americans don't see the same effect on their own personal lives," says CNN Polling Director Keating Holland. "Nearly half say it has not affected them at all; just 7 percent believe that the stimulus bill has helped them while three times as many believe that the bill has hurt them personally."
According to a CNN poll released Sunday, 56 percent of the public opposes the stimulus, with 42 percent supportive of the plan. Last March, just weeks after the stimulus bill was signed into law by President Barack Obama, a CNN survey indicated that 54 percent supported the program, with 44 percent opposed.
Washington (CNN) - Nearly three out of four Americans think that at least half of the money spent in the federal stimulus plan has been wasted, according to a new national poll.
A CNN/Opinion Research Corporation survey released Monday morning also indicates that 63 percent of the public feels that projects in the plan were included for purely political reasons and will have no economic benefit, with 36 percent saying those projects will benefit the economy.
Twenty-one percent of people questioned in the poll say nearly all the money in the stimulus has been wasted, with 24 percent feeling that most money has been wasted and another 29 percent saying that about half has been wasted. Twenty-one percent say that only a little has been wasted and 4 percent feel that no stimulus dollars have been wasted.
"One reason why the economic stimulus bill is no longer popular with the American public is the perception that a lot of the money has been wasted. Six in ten believe that the projects in the stimulus bill were included for purely political reasons," says CNN Polling Director Keating Holland. "Nearly three quarters believe that at least half the stimulus money spent so far has been wasted, and one in five say nearly all of it has been a waste."
Washington (CNN) - A majority of Americans oppose the economic stimulus program, according to a new national poll.
Fifty-six percent of people questioned in a CNN/Opinion Research Corporation survey released Sunday say they oppose the stimulus package, with 42 percent supporting it.
Last March, just weeks after the stimulus bill was signed into law by President Barack Obama, a CNN poll indicated that 54 percent of the public supported the program, with 44 percent opposed.
The program, formally known as the American Recovery and Reinvestment Act of 2009, attempts to stimulate the country's economy by increasing federal government spending and cutting taxes at a total cost to the government of $787 billion. No Republicans in the House and only three in the Senate voted in favor of the bill.
The CNN/Opinion Research Corporation poll was conducted January 8-10, with 1,021 adult Americans questioned by telephone. The survey's sampling error is plus or minus 3 percentage points.
–CNN Deputy Political Director Paul Steinhauser contributed to this story.
Washington (CNNMoney.com) - The road for another stimulus bill just got tougher following Tuesday's election of Republican Scott Brown to the Senate in Democratic stronghold Massachusetts.
After health care, Congress' next big priority is to pass something that shows voters in an election year that they're on top of the nation's unemployment scourge.
But the Democrats' loss of a filibuster-proof super-majority in the Senate throws hurdles onto an already rocky path toward a new stimulus bill aimed at saving jobs.
Given how controversial the first stimulus package remains, passing a new jobs bill, or "second stimulus," was never going to be easy. Republicans have especially targeted the first stimulus package as a prime example of the kind of big government spending they aim to end.
NEW YORK (CNNMoney.com) - The economic stimulus program has boosted employment by 1.5 million to 2 million jobs, the president's chief economic adviser said Wednesday.
The Obama administration estimate includes both jobs directly funded by stimulus money, as well as those created indirectly by companies buying supplies for stimulus projects, people spending their stimulus tax cuts and the like.
The report, by the Council of Economic Advisers, is likely to spark sharp reactions from the Obama administration's critics who argue that the $787 billion package has failed to deliver on its promises.
To be sure, the economy has continued to lose jobs despite stimulus – shedding 85,000 in December. The administration, however, maintains that things would have been much worse without the American Recovery and Reinvestment Act.
WASHINGTON (CNN) - House Speaker Nancy Pelosi said Thursday that Congress is set to consider a measure increasing the amount of money the federal government can loan to small businesses.
The House of Representatives will debate a bill next week increasing the ceiling on Small Business Administration loans from $2 million to $5 million. The bill, backed by President Barack Obama, also would increase the maximum size of SBA-backed microloans from $35,000 to $50,000.
On Wednesday, Obama unveiled a separate measure designed to stimulate small business growth in part by making capital cheaper for community banks.
"Small business is the engine of job creation and capital creation in our country," Pelosi told reporters Thursday. "The issue of jobs is (always) important to us."
The moves highlight a growing debate in the White House and on Capitol Hill over whether to push for a second economic stimulus package. The unemployment rate has continued to climb in recent months, and is now near 10 percent.
NEW YORK (CNNMoney.com) - The White House unveiled Thursday the first hard data on how many jobs the $787 billion recovery act has created.
So far, 30,383 jobs have been created by companies that have gotten $2.2 billion worth of stimulus contracts directly from the federal government. That equates to $71,500 per job based on just the funds that have been distributed.
These firms have been awarded a total of $16 billion.
Stimulus-fueled job creation has become a very controversial issue. The White House has faced blistering attacks by Republicans, who contend that the recovery act has failed to live up to its promise to put Americans back to work.
The Obama administration downplayed the reports released Thursday, saying they represent just a small sliver of the stimulus that's been spent, since the massive recovery act was enacted in February. The first reports detailing the number of stimulus jobs created or saved were submitted last weekend by
recipients of stimulus-funded contracts, grants and loans.
NEW YORK (CNNMoney.com) - President Obama is calling on Congress to send another $250 payment to 57 million seniors and other Americans to stem the economic strain.
Congress approved $250 emergency payments as part of the $787 billion economic recovery act that lawmakers passed in February.
"Even as we seek to bring about recovery, we must act on behalf of those hardest hit by this recession," Obama said in a statement Wednesday. "That is why I am announcing my support for an additional $250 in emergency recovery assistance to seniors, veterans, and people with disabilities to help them make it through these difficult times."
The measure would cost $13 billion over 10 years, according to White House estimates.
The $250 is roughly equal to a 2% increase in benefits for the average Social Security beneficiary.
The move would help counter the effect of an expected announcement that Social Security recipients will not get a cost of living bump in 2010. Such adjustments are tied to economic factors such as inflation, which has remained low because of the recession.
The call for increased benefits for seniors is one of several proposals to expand stimulus benefits. Lawmakers are also considering extending unemployment benefits and the homebuyer tax credit, both of which were included in the economic stimulus bill passed in February.
WASHINGTON (CNN) - The U.S. Department of Education is looking to give innovative school districts and non-profit organizations a share of $650 million in education stimulus money now available in a new fund, Secretary of Education Arne Duncan said Tuesday.
"There are many, many great ideas out there," Duncan told reporters on a conference call announcing his department's Investing in Innovation fund.
This newest pot of education stimulus money will be allocated directly to local districts - not through state education departments - with the money going to districts that either have a program that is working and needs to be expanded, or have a new idea that needs to be developed.