US economists: No need for second stimulus package

WASHINGTON: The US economy does not need a second fiscal stimulus package, instead the government should cut spending over the next two years, according to a survey of business economists released yesterday.

Most economists in the National Association for Business Economics (NABE) semi-annual poll were concerned about the outlook for the US government budget. Also, they doubted health-care reforms proposed by the Obama administration would lower costs while increasing access and maintaining quality.

"This is one of the fastest-moving and most controversial economic policy environments we have experienced in a generation," said NABE President Chris Varvares. "The more vexing policy challenges about which there is less agreement are federal healthcare ... budget policies."