Americans Still Asking ‘Where Is My Stimulus Check?’
May 8th, 2008 | By Contrarian Profits | Category: Featured, Financial News“Where is my stimulus check?” continues to be one of the most searched for phrases on Google, despite US Treasury Secretary Hank Paulson’s recent assurances that the government will have send out almost $50 worth of economic stimulus checks by the end of the month.
This from Forbes.com:
The first $7 bln of economic stimulus payments went out by electronic deposit last week to 7.7 mln people, Treasury Secretary Henry Paulson said on Thursday. The average payment was $920.
Almost $50 bln will have been sent out by the end of this month and another $50 bln by early July to a total of about 130 mln households, he said after touring a plant printing stimulus checks in Kansas City.
For American tax payers wondering where their economic stimulus check is, there are plenty of websites out there that provide all the usual details about the economic stimulus package.
Those with a more inquiring mind may want to read this article on the stimulus checks by Peter Schiff in The Daily Reckoning.
Peter says the Bush ’stimulus’ package is really a handout to lenders. He also asks one hugely pertinent question that the mainstream press has passed over: If there are no tax increases on the table to fund the rebates, who ends up footing the bill?
MoneyWeek magazine’s Richard Benson says the economic stimulus package is flawed policy in the first place. Richard says, “The US government hopes to revive its ailing economy with tax rebates. But with the cost of living soaring and consumers deep in debt, this will have little effect.”
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