Paulson on The Economic Stimulus Rebates
Aug 11th, 2008 by Shaun Carter
Treasury Secretary Henry Paulson seems to think everyone is saving their stimulus checks for later. In a recent statement the Secretary said that he wants to wait and see how the stimulus package helps the economy in the July-September quarter.
I really don’t understand this line of thinking, because everyone I know spent their check within days of receiving it. Just how many checks haven’t been cashed yet Mr. Secretary?
I shudder to think of issuing another rebate such as the one that will be voted on when Congress returns from recess. The country is running record deficits and the rebate(s) only exacerbate the problem. What we spend today we will have to repay tomorrow (with interest of course!)
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