By a 10-point margin, a plurality of Americans reject the idea that government spending can help the U.S. economy. According to a new CBS News poll, 47 percent of respondents say “cutting taxes to encourage investment” is the most effective way for government to get the economy moving. Only 37 percent chose “spending more money to create jobs” as the better economic policy.
The CBS News poll results echo those found by a Bloomberg poll taken earlier this year. According to Bloomberg:
- 55% believe “spending cuts and tax cuts” are the most likely policies to be successful in growing the U.S. economy and creating jobs.
- 65% believe “the size of the federal deficit makes the economy unstable.”
- 52% believe “uncertainty about new government regulations and taxes is discouraging companies from hiring.”
On the other hand:
- Only 17% believe “government needs to spend more to stimulate the economy.”
- Only 35% believe the unemployment rate is still high because “government is cutting spending, which hurts jobs.”
One reason Americans may not believe government spending can improve the economy: they believe its a big waste. Last month, Gallup found that Americans believe the federal government wastes 51 cents of every dollar it spends.
