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Two things the U.S. consumer has to look forward to in the second quarter are a tax credit, and the one-time stimulus payment to social security recipients.
Have you gotten your IRS "economic stimulus payment" yet?
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"Any burst of spending based on the stimulus payments is likely to prove short-lived".
The federal government sent about 3,900 economic stimulus payments of $250 each this spring to prison inmates.
In America, taxpayers stopped receiving cash stimulus payments from the government.
Democrats in Congress have proposed a second round of stimulus payments, a move the administration has resisted.
Playing an important role, he said, would be roughly $100 billion in stimulus payments to Americans over the next few months.
With the stimulus payments at an end, Americans now have fewer buffers between their pocketbooks and higher energy costs, falling home values and the tight credit market.
Paying down debt, he said, will free up millions of dollars a year, unlike the stimulus payments, which will run out after two years.
Democrats want more money to aid the economy, but Mr. Bush and many Republicans say they want to see the impact of the new stimulus payments first.
The concern is that all types of consumer spending will slow significantly in coming months as the impetus from $106.7 billion in economic stimulus payments wears off.
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CEO of Professional Science Editing for Scientists @ prosciediting.com