Another post in the vein of “we knew this already but it’s nice to have confirmation from another source”. I’ve been calling it the “failed stimulus legislation” for some time now, and today CNN reports that economists agree the massive spending bill didn’t help.

NEW YORK (CNNMoney.com) — The recovery is picking up steam as employers boost payrolls, but economists think the government’s stimulus package and jobs bill had little to do with the rebound, according to a survey released Monday…

NABE conducted the study by polling 68 of its members who work in economic roles at private-sector firms. About 73% of those surveyed said employment at their company is neither higher nor lower as a result of the $787 billion Recovery Act, which the White House’s Council of Economic Advisers says is on track to create or save 3.5 million jobs by the end of the year.

That sentiment is shared for the recently passed $17.7 billion jobs bill that calls for tax breaks for businesses that hire and additional infrastructure spending. More than two-thirds of those polled believe the measure won’t affect payrolls, while 30% expect it to boost hiring “moderately.”

In short, the economy is improving despite massive government spending measures and not because of them. We’re seeing aspects of the economy recovering because our small and big businesses alike are generally resilient and innovative. Eventually we were going to bounce back up.

The stimulus legislation failed even by the standards established by its proponents. It was supposed to create or save millions of jobs in a timely manner. More than a year later, we’ve lost millions of jobs and unemployment lingers at 9.7%. The legislation was supposed to keep national unemployment below 8%.

So we didn’t need economists to tell us the stimulus failed. But it’s sure nice to have them confirm our suspicions.