How would use a/another stimulus check if you received it?
By bayernfan
@bayernfan (1430)
Canada
November 9, 2008 10:05pm CST
With American President-Elect Barack Obama talking about offering another stimulus package once he's in office, I was wondering what myLotters would do if they were given a/another stimulus check?
Would you spend it? On what then? Perhaps you'd put it in a savings account, buy a bond or stocks? Maybe pay off some bills or credit cards? Donate it to a charity or put it in an education plan for your children?
Do you think stimulus packages are the right thing to do? Perhaps you would create a trust fund for a future child or grandchild because the government has decided to spend their money on your behalf?
What's your view?
1 person likes this
3 responses
@jiffin4java (97)
• United States
10 Nov 08
Well, considering any refunds go first toward paying your tax debt....my check would go to that and hopefully pay it off so I can stop shelling out for it. :)
1 person likes this
@bayernfan (1430)
• Canada
10 Nov 08
Ouch...well at least you aren't in the ranks with those who find themselves in tax loss shelters for this year.
I wonder where President Obama will find the money for another stimulus package with the government running a 1.2 Trillion current account deficit already???
1 person likes this
@bayernfan (1430)
• Canada
15 Nov 08
Most of what you have said would be the prudent thing to do. In tough economic times, I'd be trying to pay down debt as fast as I could before rates went up or before I ended up being weighed down by debt that may get increasingly harder to pay off.
Your statement about Christmas spending leads me to believe that you feel secure with your job and/or your debt isn't debilitating.
I asked the question what would you do with a stimulus check if it was given and not whether you agreed with using stimulus packages to help during a recession. Maybe you'd like to tackle the latter question and continue the discussion?
Of course, some may argue that burdening future citizens with debt so that we can continue to spend or pay our own debt off is irresponsible. Should the current generations of citizens clean up the mess that they have created themselves?
