State Economist Tom Stinson views fed stimulus package as a positive
State Economist Tom Stinson views the federal stimulus package passed earlier this year as having a positive impact on the economy.
Without it the country may have gone another year without any growth in employment, he said.
The stimulus funding may have subtracted a percentage point “or more” from the national unemployment rate, said Stinson.
Stinson cautioned against judging the impact of the stimulus funding on jobs based on the amount that has been spent. For instance, in highway construction, it would only be natural that construction companies would be paid with stimulus dollars later rather than sooner.
But that doesn’t mean extra people haven’t gone to work.
As for increasing the national deficit, Stinson indicated that revving up the economy is a greater concern now than the growth of the deficit.
“I think we should worry about first things first,” he said.
