The past administration seemed incredulous when, upon receiving the stimulus check last spring, the American public paid bills with it, saved it, or paid down debt with it. Shame on us for not blowing it and supporting the economy!
With thousands of people being laid off regularly, what do you think we're going to do with it? If you can't make your mortage payment or buy groceries you are not going to spend $1200 on a big screen TV. I am glad that most of us still have some common sense.
So I am here to be anti-American I suppose. I say save those checks that will be coming soon! I am even paranoid enough to say save them as cash, in an envelope in a fire proof safe. I really don't think a stimulus package will help the economy one iota anyway. Sure, we'll see a small surge in consumer spending when tax refunds begin arriving, but if you looked close it's not on electronic gadgets and down payments on new cars....it's at the dollar store or Walmart for groceries, it's at the propane supplier for heating fuel (it's -13 here as I type, I love my wood boiler). I'd like to see how much of that gets spent at thrift or resale stores. The economy I am afraid will have to rebound somehow on it's own. It's become a large green snarling monster and we think by keeping on feeding it that it'll go away! Throwing money that we don't have at it will not solve the problem.
So I'm here to be against the tide of popular thought. When you get a windfall, no matter how small, save it or pay down debt with it, or better yet..both.
There is no feeling of security like a full pantry, a full woodshed, and cash in a safe in the house.