President Obama's signature on the American Recovery and Reinvestment Act of 2009 will provide $787 billion in tax cuts and spending between 2009 and 2019. What's the reaction from the distribution community to this enormous bill, and how will its impact be felt in terms of truly stimulating business activity and reinvestment?
Adam Fein of Pembroke Consulting, a past presenter at NAHAD conventions and an NAW Fellow, tales a stab at finding the answer to these questions in a recent study. Among his findings: "72 percent of executives at wholesale distribution, manufacturing, and technology companies expect the economic stimulus bill to have no impact on their company's business strategies in 2009. Surprisingly, twenty-one percent of executives claim that the economic stimulus now makes it less likely for their companies to invest in growth-oriented strategies!"
Read Adam's survey results on his Blog at http://www.distributiontrends.com/2009/03/stimulus-skepticism.html
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Certainly the new administration has a lot on their hands these days and they are liable to be handling a lot more issues in the forthcoming days, weeks and months ahead………. and possibly for the balance of the 4yr term. Putting out the biggest fires will consume the bulk of their time and offer the toughest challenges as banks, insurance companies, auto industry and trade deficit problems will not be easily solved. As Americans, we are hopeful their new policies will be successful as our future standard of living depends on the wisdom of their actions. Will the stimulus package of 2009 be the first of many or will it create enough spending to jumpstart the economy? After being on the hill for the bulk of last week, it appears that many in the halls of Congress are willing to take its lead from the Obama administration……right or wrong! Many believe he deserves the chance to implement his policies……. given the fact he won decidedly in the last election, which is hard to disagree with in theory. If he succeeds, they will ride his coat tails……if not, well it could be a tough re-election year for some in the next cycle.
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