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Did the Economic Stimulus Plan Help Us?

This year Congress and President Bush came together and develop an economic stimulus plan. These checks were sent out to qualifying individuals, along with their tax rebate checks. It has been a few months since the last rebate checks were mailed out. The question now is whether or not these checks did what they were supposed to do. Did the economic plan actually help out the people and the economy, or did it not work like it was supposed to? Let’s take a look and answer that question with the following information. After all, we all want the economy to help set us up in the right position.

How it Helped

The point of the checks was to help out people in a lowered economy. Many people decided to save their checks for a rainy day when they could really use it. Also, people used their checks to help them pay off bills and debt that they might have had. This is how people were helped by the economic stimulus plan. They were told to put it to good use and that is what they did. It might be easy for you to use these checks the right way, but it is also easy to mess it up.

How it Didn’t

There are some people who believe that saving the checks is not helping anything. Saving money does not help stimulate the economy, which was the purpose of the checks. You need to make sure that you do not stimulate the economy the wrong way though. The check could have had a bad effect if you went out and spent it on something that will require you to continue to make payments on it. This could leave you in more debt. The overall goal of the checks was to stimulate the economy and help your financial position. If you ignore this then it is likely that the checks really did not have a positive affect on you.

Do We Need Another?

Lately congress has been debating the possibility of another round of stimulus checks. Do we need this? Those who say we do will claim that another jolt into the system will finally be the help people were looking for. Those who say we do not need it ask where the money will come from, and question whether or not throwing money at a problem really has any benefit. This is something that will be debated over the course of the few months. No matter what the outcome is, make sure that you always sue stimulus money in a way that will help you financially and not set you back in any deep hole.

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