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How would use a/another stimulus check if you received it? email this discussion to a friend?

myLot reputation of 94/100. bayernfan (524)   ranked 631 out of 19,372 in questions & answers1 year ago

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?

 
 
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tags:  stimulus check, stimulus package, recession, economic downturn, debt
 
1. jiffin4java (79)   ranked 14,598 out of 19,372 in questions & answers   1 year ago

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.:)


myLot reputation of 94/100. bayernfan (524)   ranked 631 out of 19,372 in questions & answers  1 year ago

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???

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2. myLot reputation of 93/100. SuzyQ12 (1893)   ranked 3,437 out of 19,372 in questions & answers   1 year ago

I would pay off bills that are
currently owed.I would also
buy some things we need in the
household. I think another stimulus
check would be a great help at this
point in time.


myLot reputation of 94/100. bayernfan (524)   ranked 631 out of 19,372 in questions & answers  1 year ago

What percentage of the check would you consider using for purchases as opposed to debt payment? What household items would you purchase? Are you planning to help out companies like Circuit City which filed for Chapter 11 Bankruptcy today by purchasing electronics?

Are you concerned about what will happen if a new stimulus package fails just as the previous one did? It might be free money for some, but eventually the tax payer has to pay for stimulus packages. In the meantime the treasury printing presses work overtime. Is anyone worried about what all this additional printing of money will do to the value of the U.S. Dollar?

Will bankruptcies and closures of stores hurt healthier stores like Best Buy, Wal-Mart and Costco?

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3. nikkibum (43)   ranked 13,414 out of 19,372 in questions & answers   1 year ago

If it's before Christmas, I would spend probably spend some on Christmas and the rest would go towards paying down student loans. If it's after Christmas, I would use it all to pay bills.


myLot reputation of 94/100. bayernfan (524)   ranked 631 out of 19,372 in questions & answers  1 year ago

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?

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4. myLot reputation of 90/100. DCMerkle (600)   ranked 2,558 out of 19,372 in questions & answers   1 year ago

I wasn't eligible for a stimulus check because I am on SSI. I really felt left out and discriminated. I could have really used that money, but I just didn't fit the bill, literally!

DCMerkle

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