Who else thinks the whole "Stimulus Check" idea is NOT going to boost the economy?

Question

So far, I haven't talked to anyone who received the full "$600 a person". My husband and I only received $850 total, and we didn't even get a check. The IRS credited the whole amount to what we owed in taxes for 2007. We own a small business, and it is impossible to make it financially! The IRS takes everything! We owed over $1,500 in fed taxes for 2007. Oh well, at least we only owe about $710.00 now. I honestly don't believe that the people who actually get stimulus checks are going to spend it wildly and "boost the economy". They will either save it, pay off debt, or pay thier gas bill.

Answer 1

Me.  It will actually have a slight effect; the intent is to increase the velocity of money flow, on the theory that consumers are more likely to spend the cash than would be the investors who will buy the extra Treasury bonds needed to finance the deal.

Answer 2

The money goes toward groceries and gas. It will stimulate the economy. The middle east economy that is, billions being sent over there to buy oil

Answer 3

me, like almost everyone, am using it to buy the constantly rising gas, buy food, and summer camp for my 7 yr old twins - ugh - now THAT'S ugly.  i was laid off from Nov 07 to feb 08, so it will also go to paying down some of my credit cards, paying my dad who lent me money.....no stimulation here!

Answer 4

I like to idea and the money even more. I don't know what it'll do for the economy with all that extra money fluctuating...

Answer 5

Sure it will Boost the wallets of the already Rich , oil companys, I will buy gas, food and a bill . But hey at least I will have peace of mine for a week or two and food  the kids will  eat,lol they are sick of peanut buttter and grilled cheese.

Answer 6

We'll i did spend it wildly. took me about 8 hours to be broke again. but i did come out of it with a K/A Zune player. but anyways stimulus plans have never worked in the past and i don't believe for a second they will work now. Just another way bush is trying to have you think he's not the wrost leader in the history of the US. nov 08 is coming up soon and things will get better no matter who it is.

Answer 7

We received the full amount but we are savers, not spenders and we are putting it away for a new car once our 9 year old car dies. If you owed taxes then it should have been put toward your debt, I don't see the problem here.

Answer 8

I got the full amount today plus the kids additional money, my roommate just got his $600 today also. And unless the gas station, electric company and grocery store will boost the economy it isn't working.  I really don't know too many people running to best buy for a new tv.

Answer 9

i am supposed to get the full amount.  we'll see if i get my check today!  

i am going to use it to buy groceries and pay some bills.