Economists: More Stimulus Plans Bad Idea

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The results of a survey of 53 economists by the Wall Street Journal reveals that policy makers in Washington, D.C. shouldn't try any more stimulus packages to make things better.

Six economists said more fiscal stimulus was a necessity, while five want more stimulus from the Federal Reserves, and seven said the economy would benefit from both.

The economists don't think unemployment will drop below 9 percent until at least next June. Also, many economists thought more stimulus plans were a bad idea.

They expect the economy to add only 136,000 jobs a month within the next year, which is lower than the 157,000 prediction in the July survey.

"The economy needs the government to get out of the way," said Stephen Stanley of Pierpont Securities.

Economists also thought it was a good idea to let the Bush-era tax cuts stay in place. President Barack Obama wants to get rid of tax cuts for high-income earners.

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