Here’s one group you won’t hear complaining too bitterly about government spending: Tech executives.
They may be deficit hawks when it comes to their own balance sheets, but leaders of the largest technology companies these days are positioning global stimulus packages – including the Obama administration’s $787 billion stimulus plan – as a necessary evil. And while they’re careful to avoid promoting any particular political ideology, there’s a common refrain among them that with the economy in such rough shape and with customers afraid to spend, it’s only natural for governments to step up.
Take IBM. The company estimates that worldwide, governments so far have committed to spend $3.5 trillion in stimulus dollars. Executives figure a good portion of that money will fund projects like smarter electric grids, improved broadband services and digitized healthcare records – areas where IBM happens to market its technology and expertise.
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