COMPAS Poll/Survey

Stock markets plunged after the announcement of Barack Obama’s $ 450 million job plan. CEOs and business leaders on the COMPAS business panel are divided about why. Many believe that the plunge was unrelated to the job plan, as shown in table 2.1. Many others believe that market reaction reflected investors’ view that the White House doesn’t understand that businesses do not make long-term decisions because of one year of tax forgiveness.

The Obama job plan was driven in part by a White House view, drawn from Keynesian economics, that spending can prime the economy for recovery. But there is an emerging belief among business panelists that Keynesian policy can’t work because spending announcements arouse fear of future taxes and inflation, as shown in table 2.1. (See full survey)

These are the key findings from this past week’s Internet survey of CEOs and business leaders on the COMPAS panel. The weekly business survey is undertaken for Canadian Business magazine.

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