Friday, February 08, 2008

To spend or not to spend?

So Congress has approved tax rebates to 130 million Americans. If you haven't heard, it's $600 for singles making $75,000 or less, $1200 for couples making $150,000 or less, $300 for 20 million low income seniors and disabled veterans, and $300 extra for parents per child. It's an effort to stimulate the economy.

So will it?

Most economists I've talked with today, including Mike Walden at NCSU, say the best thing for individuals is to save it or pay down debt. The government wants you to spend it.

Walden says it's more of a feel good effort and statistics show just 30% actually spend the money.

President Bush is expected to sign the bill next week and checks could be in your mailbox anytime between May and August.

Have a great weekend everybody! Monday, I'm at the Emerging Issues Forum where energy is the topic. We're taping a show there and talking to Gov. Hunt and some high powered CEO's. Should be interesting.

Until then...

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