Will Rebate checks be enough to ward off a recession?
January 28, 2008
Will Rebate checks be enough to ward off a recession? Congress and the White House are working on a 150 Billion dollar economic stimulus package that would provide a most working Americans a $600 check. It's hoped that enough of us will go on a shopping spree that it will rev up the economy. We'll talk about this with JOEL NAROFF, chief economist for Commerce Bank and JOEL SLEMROD a professor of economics at the University of Michigan. He co-authored a study of how people used their 2001 refund checks that were issued in a similar effort to stimulate sales.
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