Recent Polling of CED Trustees Reflects Impact of Government Uncertainty on Business

Jan 27, 2014, 13:21 ET from Committee for Economic Development

WASHINGTON, Jan. 27, 2014 /PRNewswire-USNewswire/ -- The Committee for Economic Development (CED), a nonpartisan, economic policy think tank, today released its most recent polling of Trustees. As President Obama prepares to make his fifth State of the Union Address on Tuesday evening, new data show that top business leaders are concerned about how the economy will perform in 2014.

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A January survey reveals substantial concern on many of the major economic issues facing our country—including action on the Affordable Care Act (ACA), the debt limit, and more.

"CED Trustees say time and time again that government uncertainty is significantly impacting their business," said Steve Odland, CEO for CED. "This recent poll signals that our country needs resolution from the Administration and Congress in 2014 on issues of the budget, debt ceiling, and tax and entitlement reform."

  • On outlook for the GDP, a majority of respondents say growth in 2014 will be between 0% and 2%, a continued stagnant forecast rather than a breakout.
  • Serious concern with the ACA remains with responses demonstrating a "get started now" or "lift and repeal" attitude. Only 35% of Trustees surveyed believe that the ACA (in its current form) will be law five years from now.
  • A sparse 34% of respondents believe that Congress will come to agreement on the debt limit on time, and they are split on how inaction will impact the financial markets (with 50% believing it will be a serious problem).

On issues of education, however, they strongly agree.

  • More than 75% believe the business community should be "strongly or somewhat involved" in supporting the implementation of the Common Core State Standards. Only 8% of Trustee respondents believed that the business community should not be involved.
  • 65% of Trustees support legislation that would create a federal-state partnership to provide high-quality preschool to children from low-income families.

Interest in education is motivated because only 16% of respondents believe that incoming employees are "well prepared" with the skills necessary to be effective workers, signaling a call to action to begin serious conversations on how to bridge the workforce gap.

About The Committee for Economic Development (CED)
The Committee for Economic Development is a nonprofit, nonpartisan, business-led public policy organization that delivers well-researched analysis and reasoned solutions to our nation's most critical issues. CED's work centers on the pursuit of seven core principles: sustainable capitalism, long-term economic growth, efficient fiscal & regulatory policy, competitive & open markets, globally competitive workforce, equal economic opportunity, and non-partisanship in the nation's interest. CED's research falls under four issue areas: fiscal health, education, global competitiveness, and democratic institutions. Learn more about CED online at www.ced.org, find us on Facebook, and follow us on Twitter.

Media Contact
Elise Perkins
eperkins@ced.org
202.469.7831

SOURCE Committee for Economic Development



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