Stimulus Checks Boost US Retail Sales
Jun 13th, 2008 | By Contrarian Profits | Category: Featured, Financial NewsUS retail sales grew by 1% in May, following the distribution of $57 billion in economic stimulus checks, reports CNN.
“The economic stimulus package is flawed policy in the first place”, says MoneyWeek magazine’s Richard Benson.
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.