Enrique - what a nerve!!!!

I went through the immigration system for over a year to be a LEGAL permanent resident and paid the price for the immigration lawyer to get through the minefield of the system.

Now I am legally here, I HATE it when illegal immigrants start to complain that they are being treated unfairly by the government. Fine. Go home - your wife shouldn’t be here anyway. Maybe there’s a reason you didn’t get a stimulus check………. Perhaps you should look into making your wife a legal citizen and then you (and your wife) will be able to legitimately moan about the government like the rest of us.

How can this goverment be unfair with it’s own people. I didn’t get any refund, neither my children just cause My wife is not legal in this country but me and my children are. Can somebody do something about it? I’m sure there is tons of people in my situation and as a USA citizen am quite concern.

Going to send to the IRS to cover underpayment of taxes for the year.

Here are a few ideas of how to spend/invest your stimulus check. This is targeted twords the initial question of should I make my house more energy efficient?

1) Go buy a programmable thermostat at a major home improvement store. They are as little as about $50 and can save as much as 20% of your energy bill. I installed one in my home and all of my investment properties.

2) Get a tankless water heater instead of a standard 50 or 60 gallon traditional water heater. In most cases, they will pay for themselves in a year. It doesn’t make sense to heat water in a tank 24/7/365 when you only use it a few hours a day.

3) Have added insulation put into the attic. 90% of heat/cooling loss is through your roof/attic. If you buy the insulation at your home improvement store, in some cases, they will let you use the machine for free to spray the additional insulation into your attic.

Just these 3 measures will save the typical homeowner much more than $600 per year in energy costs, year after year after year.

I’m using the check to buy 2 ounces of .9999 gold, It will not degrade with time like the dollar, it will not be deflated nor inflated. Will always be 2 ounces of gold, will not be taxed at purchase nor taxed when redeemed. Perfect money.

I’m going to buy gold, and fix my economic situation. My creditors need not worry, cant tax or freeze what they cant see.

I’m putting mine in a ‘holiday club’ savings account. Nice. I will put in all the money from my pockets, recycled can and bottle money, and then in October, the credit union sends ME a check! Sweet! How about it… let’s start SAVING and stay outta the stores!! I agree with Honey, gotta start somewhere.

Do what I do: Live across the street from your job, have less than 3 credit cards and put $100 or more on them and when you charge, just use half..it’s a credit and the credit card company can’t charge you interest as it’s a credit, eat at home (stock up on food at Sam’s Club, Trader Joe’s, etc), take your lunch to work, bring your own drink (use recycled water bottles but in your fav drink, i.e., tea, whatever, buy trail mix at Sam’s/Walmart and bring to work to nosh on, grab fruit at your desk and drink water all day. Exercise on every break, just walk around outside, the air will do you good, go to BED by 9pm and wind down after work with a soak, a calm candle, and a nice book. Don’t stress yourself more by staying up late watching mind numbing shows (CSI, American Idol, etc) that will keep you awake at nite. You gotta calm down to sleep, people! Hope this helps, does me good. Peace…

I found myself being unable to make my student loan payments sometime back so there will be no help whatsoever for this family of 4 in need. We don’t qualify for, and wouldn’t seek aid from Food Stamp type programs but we are hurting this year incredibly. When it comes down to paying the electric bill or paying for old student loans, you can guess which bill is paid. If I had actually gotten the rebate, it would have gone to new glasses for my daughter and some long overdue dental work for my diabetic husband.

I’m going to save the money. Why spend the money just to make the corporate world even more richer?

A Treakle, Wisconsin,

It doesn’t cost anything to have direct deposit (all you need is a bank account). So your notion that poor people are being dumped on because they will get their handout later as a paper check is baloney. All they had to do is put their account info on the form and their check will be direct deposited, just like mine was (yes, I’m not poor, but I filed by paper and already have my refund).

Please take your uneducated government-bashing comments to a more-appropriate forum

Jeff in Northampton,

The $1200 is an advance on a 2008 tax credit - you don’t have to pay it back. Read up a bit more on it before you post.

With 82% of the people saying the economic stimulus will not work, it doesn’t help having you tell them to go against the idea behind the plan and save it. The idea is to SPEND it.

Also, do the 82% of people that think this wont help coincide with the 82% of people (at least) that are not economists?

I am going to use my $900 to apply to the loan amount on my house. Each dollar I pay down saves me $2 in interest on the life of the loan. So, my $900 is going to save me $1,800 in interest at least. Where else can you get 200% return on your money? Why pay the blood-sucking creditors their interest when you can pay the person that really worked for the money– yourself?

Start a business in the New Economy. Its the old economy that is tanking so badly.
In todays world you can create a business for less than $600 by going virtual. Read the book $500 Start Up and you will see what I mean.

If we calculate the rising gas and food prices of the past seven years is this a fair amount? My gas bill has more than tripled and my house is more substantionally less than what I paid. I appreciate the help but……….If we were in this debt for an understandable reason then it would be fine, but again this is not the case “What Happened to the Weapons of Mass Destruction”. Thanks for the funds…..but

In full disclosure, I am a fiscally conservative, socially moderate, Republican. I’ve seen many posts pointing fingers of blame at Pres. Bush, whom I voted for in 2000 (gladly) and 2008 (sadly, but the lesser of two evils.)

Instead of following this devisive, 16-20 year trend of finger-pointing at the party you’re not a part of, simply shut up and do with the money what your conscience or lifestyle dictates.

Frankly, all three Presidents since Reagan have pushed our country and our economy to its current state.

And most, if not each of us, have played a role in this mess as well.

I think James in Florida should use his money to buy some spelling lessons.

I wonder how many people realize that our government borrowed this money from China to hand out to the U>S> masses. Frankly I’m surprised China agreed to lend it to us. I guess they expect that we will all go to Walmart and buy a cart full of China made junk and they will get their money back double plus interest. Must be great to be a smart Chinaman dealing with dumb Americans. Pathetic.

Stop complaining about Bush…everyone considered him a God send, now they have to shut up and deal with him, HA HA HA. At least he repaid for the vote…after he destroyed the economy! Oh well, the american public is so easy to convinced…fools!!!

I grew up fairly poor. My mother died when I was 2 and my father was disabled when I was 7. We lived off of Social Security. When I graduted from high school I joined the Army as an enlisted soldier for 6 years, got the GI Bill for my service and attended a small affordable college. I received a degree in a field that has a high demand and worked hard. No silver spoon here (my kid gets that).

Now I am quite successful, have a 6 figure income, only a mortgage and 2 car payments for debt. I have a child in college and I pay most of his tuition and living expenses. I save 25-30K a year in 401Ks, IRAs, taxable investment accounts etc… and still vaction in Hawaii.

I won’t complain about my government, Walmart or the welfare recipients that my tax dollars go to feed/house/cloth.

With my $1200 I will use it to paint my house.

This stimlus package is a JOKE - The lowest income people in this country who use turbo tax, H&R Block, get a RAL through Santa Barbara bank and have to pay for their tax prep through one of these services because they cant afford it otherwise…are not DIRECT DEPOSIT - NO they are getting their “PAPER CHECKS” from the middle of May if their lucky or not until JUNE (after the utility company has shut off their service from the winter bills)…

Figures that the government would figure out a way to mess with the poor again….having them wait for a paper check is just another way of crunching them….but what else is new….

Why is it most of these bloggers sound so angry? Ive gotten my stimulus check but havent realy decided what to do with it. Im in a fortunate position. I dont have credit card debt, all bills are paid. I put 25% of my earnings into 401(k), I have an addition mutual fund and own a few stocks. Dont have IRA so maybe that WOULD be a great suggestion. I was thinking about an LCD tv but the thought of spending $700 on that is more than I can handle. Whatever you decided to do with your stimulus package is your business. Save it, spend it on necessities or blow it on a party. Whatever! It’s your world, we are just in it.

$300? Please!!!!

Keep your money. Just another Bush scam to earn favor with the American people, so he doesn’t become know as the worst president in US history. Oh I forgot, the presenditial approval results are already in; he is the worst president in history.

Tax Cuts, stimulus package? Maybe Bush should try stimulating the US ecomoney with the two (2)trillion we spent in Iraq for no reason.

Take the monopoly money and buy real money (GOLD)which is still being manipulated to keep its real value down.

I, personally, found it useful to just go to http://www.irs.gov to read more about the stimulus package in their frequently asked questions section to learn more about it. Especially the “Economic Stimulus Payment FAQs: Other Questions”. This really helped clarify some of the things I’ve been reading about having to pay this back or getting taxed on it in 2008. See below.

Source: http://www.irs.gov

Q. Is my stimulus payment taxable?

A. No. You will not owe tax on your payment when you file your 2008 federal income tax return. But you should keep a copy of the IRS letter you receive later this year listing the amount of your payment.

Q. If my stimulus payment is not going to affect my 2008 tax refund or increase the tax I owe next year, why is it I need to retain the letter that lists how much I received?

A. In the event you do not qualify for the full amount on your 2007 return but you do on your 2008 return, you will need to have the letter as a record of the amount you previously received. [New 4/11/08]

Q. Will the payment I receive in 2008 reduce my 2008 refund or increase the amount I owe for 2008?

A. No, the stimulus payment will not reduce your refund or increase the amount you owe when you file your 2008 return.

It helps read up on it and get the facts!

I plan on investing mine for the short term. I have an aging American car and in a few years this money would make a nice little down payment on a new American car.

Quite a few people have commented that if you need to use the stimulus check to pay down debt you must be leading a fiscally irresponsible life. Perhaps those persons should consider that not all Americans with debt acquired it through frivolous spending. Consider this: the average debt that a graduate from a 4 year degree carries is over $19,000. If you can explain to me how going into debt to pay for an education is frivolous, I’m all ears. In the meantime I’ll use my stimulus check to pay off my student debt and my paycheck to meet the rest of my financial obligations. Having debt doesn’t always equate to living beyond you means.

Not matter, if the economy and gas and the housing market and food keeps going as they are now. By this time next year or two years will be talking about a depression instead of a recession.

But i always be wroung.

This is like giving an alcoholic money and hoping they spend it on rehab. The lesson that needs to be learned is, “stop spending what you don’t have!” We need to look in the mirror as a society and make a change.

Folks, let’s face the facts here. The US owes China over $1 Trillion, $400 Billion Dollars. Part of this package is going to you and I on borrowed money from China. The government is hoping to boost the economy, but honesty most of the dollars that will be spent, will probably go to Walmart where most of the things in stock are made in China. It’s an evil circle!!
My suggestion, spend it on drinks with your friends, by your wife or girlfriend a gift, spend some of it with your kids and have fun and then make a small donation to the Obama’s campain.

Has anyone actually received this payment yet? According to the schedule, I should have received mine by May 2 since I filed before 4/15 and chose direct deposit. I thought that they were going to be moving ahead of schedule and begin on 4/28? If you got yours already, please let us know. Thanks!

Annonymous at 2:08, that is complete misinformation. This is not a tax cut, you don’t have to give it back and it will not change your refund for the next tax year.

Read before you spread the wrong information: http://www.irs.gov/newsroom/article/0,,id=179181,00.html

I hardly consider the stimulus check a welfare check. In addition to working since I was 16, over the course of the last 38 years, I have been paying my own way through college (while sometimes juggling as many as three jobs), paying my own healthcare, buying all of my cars and paying for the maintenance, upkeep and insurance, donating and volunteering money and time to the community, learning to tighten the budget by incorporating 101 Creative Ways to Eat Beans & Rice instead of incurring debt, and diligently saving every single possible penny towards the down payment on a home. I am going to HAPPILY accept my stimulus check (which I have earned) and JOYOUSLY add it to my existing stockpile and GLADLY purchase my first home. I am appreciate so I say THANK YOU!

We will be using our “stimulus” pymt to cover utility bills, diapers, and (way overdue) clothes for our children. We’re hoping to also have enough to stock up on a few basic grocery items at Costco,as we live in a small town with very high food prices so it’s currently quite expensive to feed our family of five.We won’t spend too much on gas, because we have adapted to driving as little as possible due to the outrageous gas prices. While I am grateful for what little we have, and also for the stimulus pymt, I find it completely ridiculous that Bush & his henchmen speak of this stimulus pymt as if we will all be running out to buy the latest electronic gadgets. What color is the sky in their world? I suspect that it is the same color as the new pair of socks I so badly need but probably still can’t afford, even after getting this payment. I also suspect that most U.S. citizens are like myself; hard-working and underpaid with children and/or parents to care for but with very little means to do so. We are all desperate for this money… what does this say about the state of our country?

I don’t want to hear anymore complaining about the government sending out stimulus checks unless your not going to cash yours. Because most of you are grumbling all the way to the bank. Hey, on second thought…if you really want to prove a point, don’t cash it at all! Just send it to me, you wont hear me complaining.

I believe I will be getting $300 as I am disabled on SSD. Not much and to tell you the truth I feel like this will not do a thing for the country later on when we have to pay it back. Being that I am on SSD and have to have state help with my medical I am not allowed to own anything that has value. I can own up to $2,000 worth of thigs in value, including a car and tools, anything over and they take it away from me. I am a popper now. I spend my whole life working hard, paying taxes and working till I made myself sick. I had great insurance but was forced to take medical help from the government and they decided what insurance I could have. If we had a national health care here in the USA, like in Canada, I could be living a better life. I could own things like a car that is worth more than $1,000 and gets better than 15 MPG. We are at the mercy of a government that makes sure all government workers receive full medical care ( at the expense of the tax payer). When a government worker gets sick and can not work they do not have to live like I do in poverty to receive medical help. Government workers go on a whole differant disability and don’t have to rely on SSD or state aid.
We will be paying for this stimulus package for years and our next generation will pay to. Our roads, bridges, military barracks, and more need to be rebuild, but the big wigs in Washington want to spend the money on bridges to nowhere, and billions in pork so that these stimulus packages are needed to sure up our spending. Stop the pork and get back to basics, like taking care of this country like when we were young in the 50s and 60s, REMEMBER - Ask now what your country can do for you ask what you can do for your country - that goes for politicians mostly.
Ya I babble on but I am tired of living in poverty so I can have health care.
EL+

Yep, its robbing Peter to pay Paul but a different term. Our great-grand kids will be paying off this debt. Why save 1200 bucks by retirement it will be 600 and have no buying power. Spend it now like me…one BIG PARTY and pay for it later..(I learned this from our government)

First off, I disagree with this stimulus package, I think it is just a waste of taxpayer money and ultimately putting the country deeper in debt. Furthermore, I doubt the amount that the average person will receive will have any sort of dramatic impact on thier life. Here’s an idea…since we are getting the checks like it or not,if the government really wants to make a difference, how about making the total stimulus package equal to one days cost of the war in Iraq (approx 500 mil). This would triple the amount that each person gets, and possibly make a real difference in the economy. Additonally, you should have to provide proof on your 2008 tax return that the money was either used to buy american made goods or services, or bolster your retirement account(s) to take a little pressure off the social security system.

The stimulus check is actually a credit towards a one-time tax cut on your 2008 taxes. SO when you calculate how much you owe or are owed on your 2008 return, this 600 bucks will factor in. The nice thing is, if you are supposed to get a refund of less than you received in May, you don’t have to give anything back.

In short, you won’t be “paying it back” next April.

That being said, a spending stimulus doled out in deficit funds is silly.

Great article Walter, I agree with your 100%.

To the poster who said to just mail the rebate checks to China…that is not a bad idea as this $150 billion stimulus is financed by the Chinese anyhow. For our government to finance a stimulus to get us out of a recession caused by said debt is ridiculous.

Guys, we can say “Bush did this and that,” but the cold reality is President(s) have limited impact on the actual elements that lead to this recession. Of course it is a grand mix of fiscal policy, natural cycles, and global economics, but the raw data indicates that our wonderful Fed, followed by numerous other parties(banks,lenders,brokers,hedge funds, so on and on) got us into this downturn. It’s called greed, and many of us played a role in some fashion contributing to our decline. I voted for Bush, and like many feel a bit dismayed at the last 8 years, but if fingers point in the wrong direction when bad things happen, it makes it really hard to fix the problem.

People post some of the dumbest things on these boards. Nothing is ever good enough for Americans, we get handouts and people complain about them. Might be why we are in the spot we are now. I have no problem saying we are stuck up, inflated in our heads, and have lost touch with reality, and it clearly needs to change. I can say this freely too, because I am one taxpayer left out of this stimulus package. As a student, I work and made roughly 20K last year in my part time job, which should be enough to qualify right? Nope, as a student I can still be claimed as a dependent on my parents return, so I’m not eligible as a dependent, and the fact that I work to make more makes me not eligible for financial aid. I could complain, but I really can’t because I work hard and budget to pay for 30K a year tuition. I am semi-bragging no doubt, but my point is to say to all the complaining to shut up, budget properly, work hard, and not live on other peoples contributions(taxes) to this society that is still great. Oh and by the way, we are still a capitalist society, so the Walmart bashers need a reality check, because we all envy those who have created big businesses($$$$) with the freedoms we are all equally given.

I am giving my check away to charity. They always seem to make the bottom of the list of ideas. In a struggling economy, charities get hit harder because that is the first item to cut off when things get tight.

Most of us have so much more than the rest of the world. Invest in someone else!

To Jack from Charlotte: Good to know! Thanks for the knowledge.

To Brandon from Sunny San Diego:
Catch 17 that is funny. Good point about the finacial advisor.

As for the stimulus package. I spend more on cigarettes than I do on gas. If your a smoker like me Saving the $4+ dollars a day will get you a lot further.

If you give someone a fish they eat once, If you teach them to fish they eat forever. We would not be in this position if the national debt wasn’t so high and people were more responsible with their money. Teach people how to manage thier money and the US would not be in this crisis.
A bailout will only teach us that Mommy and Daddy will pay for it.

Not everyone who is in debt is in that position due to poor spending habits. Some are like me, digging out after trying to start your own business and it doesn’t work out. In fact, I would guess that many are in bad financial straits not due to crazy spending, but just due to the everyday cost of living rising and trying to keep their heads above water.

Don’t people deserve a living wage for what they do? The more consumers want cheaper and cheaper goods, the more we sell out this country. Instead of ten different pairs of shoes, how about one or two that maybe cost a bit more but put someone in this country to work?

We have become a nation of self-indulgent people unwilling to sacrifice or deny ourselves for the betterment of our nation. Recently I listened to what it was like in Colonial times when we were about to fight the British. Those people gave up so much in terms of imported goods to make their point - much more than what we get from China - and we can’t do the same. Our gluttony will be the end of us.

I will be paying down some debt with my stimulus check, and I’m not the least bit ashamed of it.

Oh poor Mike in Chicago - you are a victim! You probably make almost 6 figures a year. If only you could sacrifice that income and join the military - deploy to Iraq, and then you won’t have those pesky income taxes to pay. Don’t want to subsidize the lives of those less fortunate? Then be a hero and save them!

Im using my stimulus check to offset the falling dollar, since I am stationed in Europe, my check will be used overhere.

You’re kinda arrogant.
For you to presume that you are more of an expert at discerning fraudulent energy-efficient contractors from legitimate ones is demeaning. You dont even really know to whom you’re addressing your comments. You should stick to your area of expertise; which is financial. Only. And to bring up the tired old adage of “more lattes” is just that: tiresome. Yup. We’re all a bunch of latte swilling numbskulls with nothing better to do with our money than buy a round of drinks for the house……

I am sad to say that it is going to pay medical bills since the company I work for has gutted medical insurance since the merger last year. Try to afford a $2200 deductible and then and an out of pocket max of 11K. Yes that is 11K!!! One emergency and that is all it took. Almost 20 years in and this is how the lowly workers get treated while the CEO collect millions!

First, John of San Diego: I am an average American citizen and I intended to do precisely as Updegrave suggests well before I read this article. I think he is brilliant.

Secondly, to the rabid rightwinger who believes that liberals should love this as it is a “handout”: You are totally incorrect. I am liberal and a tax-paying gay, American. I live in California. I do not believe for an instant that this is a handout.

This “stimulus” check is republican campaign maneuver, at best, and blood money to the American people, at worst, for our complicity in the Bush/Cheney debacle. This is a cynical use of tax dollars.

But obviously it worked on you.

What was Halliburton/Cheney’s profit margin last year? If I’m going to be ‘paid off’ I would rather see Halliburton/Cheney have to do so, rather than take part in this charade, this use of our money to keep a republican in the White House and the war criminals from the Hague.

“Halliburton made a 33billion dollar profit last year, and all I got was this lousy three hundred bucks.”

At age 46, I’m putting 1/2 of my stimulus to my car payment to knock that principle down and the other 1/2 goesin the bank. Since I don’t own a home as of yet and have no credit card debt or other debt at this time, I’m better off then most.

TO: Mark from Bartlett, why are there so many people that are ignorant to equate Walmart with China? The anti-Walmarts really sold you a good one. Have you looked at the goods sold at Target lately? How about Macy’s or Sears? Everyone is selling Chinese goods. Why? Because WE WANT CHEAP CHINESE GOODS.

I don’t get a “stimulus” check. I do however have the pleasure of paying for the others who do. Uncle sam-can you make me a victim too? I want a “stimulus check!” Where do I sign up???

What’s wrong with you people? Where’s your patriotism? Don’t you always do what your president tells you? Didn’t you go out and get yourselves in debt after your president told you to go spend money after the first recession we went through with him?
Well, I actually do not always obey my president (I am a free thinker) but I am going to spend this money and fix my car and other things I am normally too strapped to do because our cost of living has increased but wages have remained stagnant. Thanks George!

Dennis, I do agree with you - but realistically speaking, if $1200 changes your financial picture drastically, you probably can’t afford a financial advisor. This used to be a Catch-22, but now with inflation, it is a Catch-17 at best.

Thank you, Uncle Sam.

I was originally thinking to boost my emergency savings fund, but after seeing gas prices jump about 30 cents in the past 2 weeks, I’ve decided to purchase a road bike to commute to work from my house. If I do this about 3-4 days a week, I will get that $600 back pretty quickly. Also it helps stimulate the economy and gives me a great workout.

I’m saving my rebate to pay for my taxes when I convert my Traditional IRA to a Roth.

I’m giving 1/3 of it to the local food shelf. The remainder into my savings account. It’s really sad that we’re having these conversations in this day and age. As though $600 can change the course of the economy…

Saving the money is just as good, if not better, for the economy. It gives capital to banks, who can then lend it to small businesses or other worthy borrowers. These individuals will then spend the money (ideally in our economy and not China). So save it, don’t spend it.

As someone pursing a career change for more meaningful work, I’m putting mine towards paying for college classes. I’d still consider that investing for the future

I’m using my $600 towards a new LCD TV and to help the economy. If you are counting on the stimulus to pay down debt or invest, you need a new lifestyle. This should be nothing more than a little bonus if you have managed your finances properly.

I like the attacks on Wal-mart. Name one company who does more to save the average consumer money (or even has the leverage to save people money)? And yes, the company’s owners happen to be rich, that’s what happens when you are the primary shareholders in a company with over 5,000 locations world wide. Do you really think the Walton’s have $25 billion in their checking accounts? (here’s a hint: it’s reinvested in the company). I guess we should all be so lucky as the people in union corrupted cities paying $6 for a gallon of milk at the foreigner owned grocery store on the corner.

Even if someone’s check is spent on goods produced elsewhere, it keeps people employed at the stores where it was purchased, it keeps the drivers who transported the goods employed, etc. Sure, not all of it is going back into the country, but not all of the cash leaves our borders either.

I’m lumping my check in with the rest of my cash for a down payment on a house. It might make a dent in closing costs.

Not liking welfare is conservative.

Wanting to impeach Bush is constitutional.

The republican party has little to do with being conservative or constitutional these days.

$600 compounded at a conservative 5% for 30 years is about $2500. In 2038 what do you think that is going to do for a person retired. Honestly Updegraves answers mostly consists of either ETF’s, Index Funds & Retire Calculators. The people who are waiting for their checks, so that they can invest it in their own personal retirement accounts are already inclined to save and are probably already socking away at least 10% of the income anyway. Updegrave should have addressed the concept of if you are in a cash bind what fiscally makes the most sense for the average American. If you have any debt accruing at a rate of more then 5-8% then put the money toward your debt, if not just go out and spend the money and make yourself happy. With all the worries of a recession and rising oil/commodities prices, I think the American public needs a little reprieve.

On a last note doesn’t his argument for not going green contradict his last suggestion for donating to charity. He probably recommends it so you can write off the donation, but any greenies knows that sometimes the extra money you pay for organic or eco-friendly products are an indirect investment into our earth.

(Re: Dennis in York, PA)
Actually Dennis, if you invest in a Roth, you can always withdraw your own contributions tax and penalty free!

I’m going to use mine for investing as well. I won’t contribute to a future bubble. We’re just making the boom-bust cycle worse.

Ever ask yourself why companies open factories in foreign countries? because you want affordable products and unions in the US have caused that to be almost impossible… cause somehow they feel that an assembly line worker deserves $80k a year for snapping this widget together. Look what unions have done to the airline industry. That’s why Walmart has factories in China. If we paid people what their job is worth, then maybe those jobs would come back.

(Re: John in San Diego)
A lot of what you say is true, but I disagree with your conclusions that CNN shouldn’t regard Mr. Updegrave as an expert. You seem to be arguing that readers would be best served by impersonating the “normal US citizen”, which is clearly not the case. Last time I checked, the average American was spending more than their income, racking up debt, and forgetting about retirement. You also seem to be arguing that Mr. Updegrave, for some reason, has a responsibility to give advice based on what’s best for the economy rather than what’s best for the individual. Mr. Updegrave’s advice should be geared towards giving individual readers the best guidance possible on managing their personal finances, and that’s exactly what he has done.

Putting the money into a retirement plan, or otherwise saving it in the bank, a mutual fund, or whatever, is also putting it back into the economy. By saving or investing (the same thing, really), you are providing capital to another person or company.

Also, why does anyone think the government can tell us what to do with our own money? Those of you who get checks should “spend” them as you see fit, not as some politician tells you to do.

How come none of the experts remind you that you wil have to “reconcile” this “gift” on your 2008 return. That means PAY IT BACK!!

Glad to see you included the final suggestion! At least part of ours is going there.

Wow. Interesting response from the readers. I think good ol’ Walt has the right of it. I won’t be spending my stimulus check on anything. It is going into the bank. I know I won’t make a ton of interest. However, If the car breaks or I need quick cash I can just go to the bank and withdrawl MY money instead of paying 10% for the privledge. If $1200.00 changes your financial picture drastically then you need a finacial advisor.

Just send your checks to China directly don’t use Walmart to take your money there. If you use Walmart some of that money will end up in the CEO’s pocket. Just make your checks out to The People’s Republic Of China.

Based on your impeach bush comment, I assume you are a liberal. In that case, you should love the idea of a free hand out, after all, isn’t that what liberals push? I think before you start posting comments, you need to figure out what party your alliance is with, because until the impeach bush statement you displaying conservative tendancies. My guess is you want to elect iraqi bomber into office…..help us all.

John from San diego, are you saying Updegrave should tell people to just gto spend money instead of some snesible other options. SO because he is sop far removed from the normal US citizen[buy what we can't afford, credit card ebt etc]? Come on there are those who will spend and those who will save. We need the spenders to keep the economy churning because then people like me can save.

Stimlus Check, what hu??

Did’nt you meen to say, WELFARE CHECK.

It is a WELFARE CHECK.

Where are people going to spend it, at the big chains that make MILLONS a Year and have had Record Profit’s for years.

Walmart already cashing the checks for free, so you can blow it there and boos their profits even hire. Oh that’s right the remaining Walton family is only worth $25 Billon apiece now. Real humanatariens are’nt they.

What’s next, Food stimulus Check’s.

That’s called FOOD STAMPS……………

Welcome to America the richest Country on the planet.

Disgraceful.

Impeach Bush

I’ll be using my check to pay for gas and higher food costs.

I don’t know why CNN has Walter Updegrave as an expert. All of his answers are always so unoriginal and outdated. His latest response to how to spend your stimulus check is probably the most logical, but the point of the stimulus package was for the American Public to put the money back into the Economy as opposed to put the money in a retirement savings plan. While it makes fiscal sense, the entire premise of the plan is totally defeated by this “expert”. If the average consumer does not already have a standard IRA or Roth, then does Updegrave really expect that person to do what he suggests in his article. Honestly Updegrave’s mindset is so far removed away from the normal US citizen that I don’t understand why such a credible institution as CNN uses him as an expert.