The stimulus plan started off as a great idea ...ballooned into nearly a trillion dollars .... and is becoming more unpopular by the day.
What if Congress instead gave the money to American taxpayers instead?
CNN-Money ran the numbers and says every taxpayer in America would receive a check for almost $10,000, if the all the stimulus money was instead handed out to the people...instead of to Banks and other spending projects.
CNN added the bank bailout to the new Stimulus package, then divided by the number of taxpayers, and came up with exactly:
• $9,718 dollars per taxpayer.
Supporters say that would immediately boost sales at stores, car and boat dealers, and new home subdivisions.
But most economists say it won't work...because people would save the money or pay off debts, and we would remain in a recession.
They point out that last summer's $600 stimulus did nothing to stave off downturn, as most people used it to pay down credit card debt.
So instead Congress and President Obama are working on an $800 Billion package that would
net most taxpayers an extra $20 - $25 a week in their take home pay, as a result of a tax cut.
