How will you stimulate the economy?

The big "Economic Stimulus Plan" has passed, and it looks like all the John & Jane Q. Tax-payers out there (even those that don't pay the Fed) will be a little richer come summer time. Here's how it boils down...

(from Consumerist.com)

• Workers making at least $3000 but not paying federal income taxes: $300


• Income tax paying individuals: $600


• Working couples: $1200


• People with children: extra $300 per child


• Individuals making $87,000 and couples up to $174,000: partial rebates


• etc...

Now, I'm not one to turn down free money, nor am I any kind of economist. I may have an excel-spreadsheet budget, but I wouldn't want to begin to understand the complexities behind running the budget for you know, an entire country. I plan on putting my money directly into the bank. When we put our down payment on our first house, we'll have to send a thank you letter to the US Government I suppose. If we don't get weaseled out of the rebate by some ridiculous loop-hole. At any rate it's new TV's, PS3's, Xbox's, Wii's, Car Down Payment's, Computers, etc...for everyone! America F-Yeah!

Oh wait, what?

It could potentially double last year's budget deficit of $163 Billion.

"I am concerned that in our rush to help, we talk ourselves into a quick, feel-good hit today that will leave us with a bigger budgetary hangover tomorrow," said Rep Paul Ryan of Wisconsin, the senior Republican on the House Budget Committee.

Sorry Grand kids. It just gets gloomier and gloomier for you.

Sources:
Consumerist.com
Tax Rebate Deal Could Mean Checks by May | AP
Deal Reached in US Economic Plan |BBC News