Members of the American Hardware Manufacturers Association (AHMA) expressed pessimism regarding the Obama Administration's ability to introduce a plan that will effectively address the nation's unemployment problem.
The Schaumberg, Ill.-based AHMA's monthly Confidence Index survey, which showed a slight increase in August, also asked members the following political/economic question:
“President Obama has said he will introduce a new jobs plan that is expected to include an extension of payroll tax cuts, new revenue for transportation projects and an extension of emergency unemployment benefits. Do you have confidence the new plan will be effective in addressing the unemployment problem?”
Seven percent responded “Yes,” 21% responded “Not Sure,” and 72% responded “No.”
Additionally, the AHMA put the following question to its membership: “The ‘super committee’ of 12 Congressmen and Senators (six Democrats and six Republicans) will begin after Labor Day to find an additional $1.5 trillion in spending cuts by Nov. 23. Do you think the committee will be able to put forward proposals able to pass votes in both the House and Senate by Dec. 23 as required by the previous budget agreement?”
On the spending question, 28% responded “Yes,” 17% responded “Not Sure,” and 55% responded “No.”