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George W Bush recently signed off on the 168 billion dollar economic stimulus rescue package.

What does this mean for the average person?

It means that 128 million American households will begin receiving economic stimulus checks from the federal government starting in May. I’m not going to go into all the details but here’s the gist of it: If you’re single and make less than $75,000 you will be receiving a check for $600. And if you’re married (making less than $150,000) you will be getting $1200, plus an additional $300 for each child you have.

Americans are incredible consumers

The purpose of this whole economic stimulus package is to give people some cold hard cash to pump back into our drooping economy, giving it a nice shot in the arm. The government thinks, since it’s likely we’re headed for a recession, this would be a good way to get things going back in the right direction.

I’d say they are also acutely aware that once American consumers get their hands on these mighty (or not so might these days) greenbacks they will feed the addiction ‘to spend, spend, spend and spend some more.’

Continue Reading “How to Spend Your Economic Stimulus Rescue Check”