Well, what are you going to do with your rebate?

[Jessika]

Might I remind everybody that this is not free money. Its being taken from you in tax form as we speak and will continue to be taken to make up for this spending.

They are not talking about your tax returns but in addition to your return you will be getting extra money from the government this year. That is my understanding, anyway.

[kallisto4529]

Well I won't lie the money would be great, it has passed now. But I do not like the fact that all of this money is going to be added on to our national deficit!!!!!!!!! Jump starting the economy???? Please that must be a joke that they think is funny....it certainly will not happen.
But mine will go towards cc bill.

[Sparklecoon]

Would it be wrong to take a trip to Toronto and spend it all there? JK!

I think the money will probably go to the kitchen or bathroom renos. Nothing too fun though there is an overly expenssive Coach purse I've been eyeing...

[Catlady711]

I think it is silly to think that handing out money will help the conomy enough to turn it around, with so many Americans in so much debt - and whose money is it? It's our tax dollars in the first place. They would just be taking from us to give it to us. All political hoooey, in my humble opinion. It's not like they are giving us money from some huge government surplus, instead the government itself is in record deficit territory. Do they think we're all dumb enough to forget that?

That was my thinking. I can't see how this will make but a blip of a difference in the economy.

What would have made a difference was keeping a tighter rein on the regulations with which money was lent out by banks. Then there wouldn't be all these foreclosures and drop in the value of houses which has in turn caused the crisis. It was so obvious that lending money with no down payment to people who previously didn't qualify at rates that would soon go up to kazoo was a recipe for disaster.

As for what I do with the money, it won't be any different from what I do with any money I earn, put it in the bank until I need to pay some bill with it. My house is worse than a kid going to college.

I agree with both of you!

[momoffuzzyfaces]

The Senate just passed a revised bill:
http://biz.yahoo.com/ap/080207/economy_stimulus.html

[joycenalex]

i really don't think this rebate will work in stimulating the us economy. i have a question for economic majors or economists....IF the federal government were to sell bonds specifically for highway restoration and renovation, not in the major urban areas, and specified in the contracts that the work was to be done by small business and to hire economically disadvantaged young women and men to learn skilled trades would that stimulate local and regional economic growth?. this type of highway bonds would be a stable investment return for investors. i know this is a lot of hypotheticals, but if people do work that improves and repairs a crumbling infrastructure in their community/region and and they get wages, the people gain job skills and spend money and the region/community gains better roads and bridges. something along lines of the WPA of the great depression.( this is an idea we've been discussing here at home...)

[emily_the_spoiled]

The theory behind that strategy would work quite well. But there are few small businesses that can do road work on any major scale. Unfortunately it would also likely cost more than the stimulus package now being passed and the young people might now want to work in that kind of a job. It is hard, hot, dirty work that not everyone is willing to do. But the idea of some kind of WPA is very good if investors are willing to settle for the interest rate on the bonds, versus the potential for making vast sums of money on the stock market.