With stocks plummeting around the world yesterday, the national unemployment rate now at 5%, and economic gloom and doom around every corner, President?s Bush?s plan to stimulate the economy is getting plenty of press. His proposal to issue about $145 billion in tax relief sometime in the spring has prompted speculation of whether recipients will spend the money and stimulate the economy, put it in savings or pay off debt. I tend to agree with David Wyss, chief economist for the rating agency Standard and Poor?s in New York who said,
?Anybody who doesn?t think Americans will spend this has not yet met the American consumer or is not married to one.?
I?m just hoping I get my refund before the semi-annual shoe sale at Nordstom?s.
