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May 22nd, 2008
05:50 PM ET

Rebate checks = confidence in economy?

ALT TEXT
US Federal Reserve Building in Washington, DC. (PHOTO CREDIT: GETTY IMAGES)

FROM CNN's Jack Cafferty:

So far, the government's big solution to fixing our sluggish economy has been to pour $150 billion into tax rebate checks for about 130 million Americans. The idea behind it is to bolster the confidence of U.S. consumers, and to get them to spend that money to jump-start our economy.

But, turns out the checks – in the amount of $600 per individual and $1,200 per couple – may not be doing the trick. A new Gallup Poll shows people who have already received their tax rebates feel just as uneasy about the state of our economy as those who haven't yet gotten the checks.

43% of those who received the rebates rate the economy as "poor" while 18% say it's "excellent or good." That's nearly identical to the 43% of those who haven't received a rebate and say the economy is "poor”, while 16% of them say "excellent or good."

87% of those who have received a rebate say the economy is getting worse, not better. That's about the same as the 86% who haven't gotten a check and hold the same view.

Also, the tax rebates seem to have done very little in the way of relieving Americans' worries about their own financial situations. Almost the same percentages of people say they "worried about money yesterday" – regardless of whether or not they've received a rebate check.

Here’s my question to you: Do the government’s rebate checks make you more confident in the U.S. economy?

Interested to know which ones made it on air?

David from New Hampshire writes:
Not at all, Jack. I cashed mine and put it in my wallet. If enough people do this, President Bush might just be dumb enough to issue a second set of checks.

Harry from Kentucky writes:
I have every confidence in the world that the price of gas will be below $3.50 by Election Day and that incumbents of every stripe will point to their support for the rebates as saving the American economy.

Robert from Roswell, Ga. writes:
We are a married couple and only received $600. Apparently we didn’t earn enough so the government decided we only deserved half. Had we filed separate returns we would have received $600 each. This Republican administration can't even bribe us correctly. Bobo the clown and his sidekick Foofoo can be the Democratic candidates as far as I am concerned. You can bet I am NOT voting Republican – EVER.

Bonita writes:
No way, it makes me more leery of our economy. This money for our rebate checks is borrowed money. How can anyone feel comfortable knowing that? If my son had to borrow money for my birthday gift, I would rather NOT have the gift. I always thought that the Republicans were against spending....they have gotten us deeper in debt that any previous administration and we will be paying for this till way past our dying day.

Joyce writes:
Jack, I think you should know that many people, like myself, only received $300 in rebate checks. Since I am living on a fixed income, I had to use mine to pay my car insurance. I am not sure how I will afford the gas to drive if the price of gas keeps rising.

Dick writes:
I am using my rebate to buy 150 gallons of gasoline. In a short time, I can resell it for double. Then I will use that money to buy euros and in a short time, I can sell them for double the dollars they cost. So by next year, I expect my rebate to net me $2,400. I will then go the grocery and buy a pound of potatoes.

Posted by
Filed under: Rebate Checks • US Economy
soundoff (304 Responses)
  1. mark in AZ

    Jack,
    we'll need 2 more rebate checks just to cover the cost of the rise in price of gasoline. so once I get 2 more checks, then I'll be able to buy something to help the economy.

    May 22, 2008 at 2:06 pm |
  2. greg lancaster, tx

    Absolutely not. The smart move is to add this money to cash reserves. The rising price of fuel is changing everything and endangering even those with a comfortable life

    May 22, 2008 at 2:08 pm |
  3. Karen, Idaho Falls Idaho

    Hi Jack,

    The American economy is controlled by China, India, and now, considering the increase in gas prices, by the Middle East. The government rebate checks will stimulate the economy of all the countries that own us. Our economy is beyond help. I do, however, really appreciate the $300 check. It will help me survive another month or so.

    May 22, 2008 at 2:12 pm |
  4. Frank Ontario

    Here is my advice on how to spend the rebate cheques

    If you are lucky and the IRS sends you a rebate cheque be careful how you spend it......

    If you spend that money at Wal-Mart, all the money will go to China.

    If you spend it on gasoline it will go to the Arabs.

    If you purchase a new computer it will go to India.

    If you purchase fruit and vegetables it will go to Mexico, Honduras, and Guatemala.

    If you purchase a good car it will go to Japan.

    If you purchase useless crap it will go to Taiwan and none of it will help the U.S. economy.

    You need to keep that money in the U.S.

    The only way to keep that money here at home is to spend it at garage sales, since those are the only businesses still operating successfully in North America.

    May 22, 2008 at 2:13 pm |
  5. Ed Reed

    No, it makes me more convinced our leaders are idiots. Most of our problems stem from our debt, both personal and national. So what does our government do? It borrows more money from China or Dubai to send us a check that we will use to buy more Chinese products from Wal-Mart and more oil from OPEC. It's insane!

    Ed Reed
    Port Aransas, TX

    May 22, 2008 at 2:15 pm |
  6. Mike S., New Orleans, Louisiana

    No, in fact, this rebate nonsense makes me uncomfortable. I see this as an act of desperation by an administration who destroyed the U.S. economy, and squandered a huge surplus. To watch our government print more checks and borrow more money from other countries should not make anyone more confident about our economic future.

    May 22, 2008 at 2:16 pm |
  7. Brian from Fort Mill, S.C.

    I haven't gotten my rebate check yet, but when I do, it will go toward food and gas, and that's about it.

    In the quest of trying to avoid a recession, inflation has become the bigger problem.

    I'd better stop typing and get back to work. I can't afford to get fired.

    May 22, 2008 at 2:17 pm |
  8. Charles Liken, Lansing, MI

    Absolutely not. This is money borrowed from our grandchildren that will be used pay credit card bills. Had that money been spent on the infrastructure of the country many needed jobs would have been created and there would have been a start on much needed road and bridge repair. This is just politics as usual. A pox on both their houses.

    May 22, 2008 at 2:17 pm |
  9. James in Cape Coral, FL

    Jack,
    Us American's are not as dumb as George Bush thinks we are. How can borrowing more money from China possibly make us feel better about our economy? Sure I can make my car payment this month, even if I can't drive it, but the only economy this so called stimulus package benifits is the Chinese economy. We borrow money from China to buy things from China, how in the hell does that make sence?

    May 22, 2008 at 2:17 pm |
  10. Jan Davis, Knoxville, TN

    No they don't. Mine went to pay IRS taxes so didn't help economy much. At least though it is better than nothing! Thank you Congress for voting yes on this.

    May 22, 2008 at 2:20 pm |
  11. David, Natches MS

    HA! HA! HA! HA!

    May 22, 2008 at 2:21 pm |
  12. Peter TX

    Heck no, it was only $600.

    Peter–Dallas, TX

    May 22, 2008 at 2:22 pm |
  13. Dan from Santa Barbara

    Actually, it gives me the signal that something is wrong. It's magnified when they initially say "$600 per person" and that is then changed to "up to" $600 per person.

    May 22, 2008 at 2:22 pm |
  14. Judie

    Jack,
    The government rebate checks do not make me more confident in our economy. Where is the rebate money coming from.............. its just a loan on what you will owe on your next years taxes............... just the same kind of thinking that got us in this mess in the first place. Spending money that we don't have yet and hoping it will magically appear. Maybe I should go out and buy a yacht just in case I get some money next year to pay for it and if I don't get the money maybe the government can give me a rebate for the next 50 years in a lump sum then I might be able to pay for it. Just more of robbing Peter to pay Paul and I don't believe it will work in the long run. It's just dangling a carrot to keep the restless natives quiet until the next president gets into office.

    Judie
    St. Augustine, Fl

    May 22, 2008 at 2:23 pm |
  15. Billy G in Las Vegas

    rebate checks? why not just give the money to the oil companies and eliminate the middle man?

    May 22, 2008 at 2:24 pm |
  16. Ron in Indiana

    Where is my rebate check? I should have gotten mine weeks ago, Also, how come the people I know who have received them are getting $728.00? These are couples with children. What happened to $600 per person plus $300 each child?

    May 22, 2008 at 2:24 pm |
  17. Ron San Diego

    Jack:

    That check did nothing for the US economy. If the Bush camp wanted to make an impression on people and actually help the economy. He should put a cap on the price of gas and jet fuel.

    This president is standing idley by while the rest of the country is turning into a financial train wreck.

    Ron San Diego

    May 22, 2008 at 2:26 pm |
  18. Patricia from Pine Plains, NY

    Heck no Jack. With the price of gas & what I have to pay at the supermarket, it sure will not go far. I just don't bother to drive much anymore, most of all I don't both to drive to the supermarket much anymore. I grow my own veggies and may soon have to eat my cats. (Only kidding)

    May 22, 2008 at 2:26 pm |
  19. Leevaughn Brown

    hey jack
    in a word, NO!

    Cinti, Ohio

    May 22, 2008 at 2:27 pm |
  20. Scott L. - Wichita, Kansas

    I don't know, Jack. I never got one, and I won't get one, but I don't have any problems with the costs of living because I know how to budget my money.

    May 22, 2008 at 2:28 pm |
  21. Katy

    Are you kidding; that was stupiest thing in the world the Bush & Chenny and the two Houses done. It does make me laugh out loud that is good face exercise!.

    May 22, 2008 at 2:29 pm |
  22. Lorenzo, Atlanta, GA

    Jack,

    Those pathetic checks didn't stimulate the economy. Most people, like myself, used it to catch up on bills that were behind. Bush cut a gaping wound in this economy down to the bone and has offered a rebate band-aid. Who was happy? The banks, because mortgages and credit cards were being paid.

    May 22, 2008 at 2:30 pm |
  23. Bob, Rome NY

    The rebate checks won't boost the economy at all. People are going to use them to pay bills and fill up their gas tanks. To say nothing of putting a bit of extra food on the table! Right now I don't buy anything I can do without and don't go anywhere I don't need to go. Grocery store and church are about it.

    May 22, 2008 at 2:32 pm |
  24. David S, Houston Texas

    Of course not! It's just political pandering. Like giving a kid a lolipop to shut up and be quiet. I make $11.50 an hour and will put my check in my depleted savingsaccount (from higher fuel, food, electric and rent costs) to help out in even worse times that are to come. Feed the Pig!

    May 22, 2008 at 2:33 pm |
  25. mitch martin arkansaw

    yes ,because i'm donating mine to obama.

    May 22, 2008 at 2:33 pm |
  26. David,San Bernardino,CA.

    The so-called rebate checks are just a bribe aimed at confusing the American people. This is the same scam that corporations pull all the time,Offering something for nothing! What is not said is what's behind the curtain ala the Wizard Of Oz.

    May 22, 2008 at 2:33 pm |
  27. Steve ,Idaho

    It might temporarily slow down the recession, but it will not give the economy a boost. After all the money spent and gone, the prices of food and gas will continue to rise and put further strain on the backbone of the majority of Americans. To top it off, it's just another future debt for children on Washington's credit card deficit.

    May 22, 2008 at 2:34 pm |
  28. Nuwan Sam

    After you pay for the ever increasing gas prices, those rebate checks would be vanished. It will not do any good for the economy. We will see that in economic reports in coming months.

    – Nuwan from Houston,TX

    May 22, 2008 at 2:36 pm |
  29. Warren, Detroit

    I sent my thank you letter to China for the rebate check, they sent me an American default notice...

    May 22, 2008 at 2:36 pm |
  30. Major Mike in Lorton, Virginia

    Jack: NO! It just makes me more eirey of the leadership that has been running this country for the last eight years and the economical mess that this Administration has gotten the US in. In fact, I viewed the rebate check as an insult......they gave me $1200, less $487 reduction adjustment.......totalling..$713. If they are going to offer a buy-out to every American as I have demonstrated, they need to up the ante.......considering I paid almost 35K in federal taxes last year. In essence.........they are giving me back my own money......with a political spin......with such great friends like that......who needs money!

    May 22, 2008 at 2:36 pm |
  31. Julie, NY

    No, it actually made me lose faith in the Democratic Congress. There are sooo many people living in poverty and that money could have been better spent targeting them, not giving it to people like me who didn't need it.

    May 22, 2008 at 2:37 pm |
  32. Bill,Quarryville. PA

    The only confidence that I will receive from my rebate check is, I will be able to fill my car with gas and buy enough food for a week without having to worry how I will pay my other bills. A rebate check for a couple hundred of dollars doesn't buy much confidence these days.

    May 22, 2008 at 2:37 pm |
  33. Larry from Georgetown, Tx

    Of course it does, don't you believe everything that our wonderful leaders tell us and especially the Bush administration. If they tell you that things are fine then you and all of us should just believe it and get on with our lives paying $4 or $5 for gas, food up in some cases 25%, and on and on. Just ignore these minor details and listen to the president.

    May 22, 2008 at 2:38 pm |
  34. Annie, Atlanta

    I intend to put mine in the bank to save for a rainy day – which may be next month's gas fill ups. It's like trying to fill up the Grand Canyon with a Tonka dump truck.

    May 22, 2008 at 2:39 pm |
  35. Dave in Astoria

    Yeah.. it makes me REAL confident. I'm so giddy that I think I'll buy a tank of premium instead of regular. Maybe I'll go out and buy WHOLE WHEAT bread instead of white. I just hope it doesn't affect my adjustable-rate credit card, mortgage, and or capital gains write-offs. Just more politics as usual....Makes me Bitter.

    May 22, 2008 at 2:40 pm |
  36. Chris G

    Check, what check? It was over before it was over. Give me a job. Give me a brake!!

    May 22, 2008 at 2:40 pm |
  37. Patty in Maine

    No, no, no. With the price of gasoline and heating oil still rising!!! What would you say if asked that question. Of course people who make big money don't have to worry, at least not yet. It's just a bandaid and a small one at that. Our economy is not getting better and it won't for quite awhile.

    May 22, 2008 at 2:42 pm |
  38. Carol

    NO!

    Carol in Oregon

    May 22, 2008 at 2:44 pm |
  39. Bob Mueller

    No!

    May 22, 2008 at 2:44 pm |
  40. Scott, Billings MT

    Jack,

    Once I get the check I am going to spend it on paying off the last of some medical bills I have been struggling to pay for the past several months. By my calculations, I will have $5.57 left over and with that I will head to the local liquor store and buy a six-pack of beer. And to help keep those dollars here in the U. S, of A., I will choose a cheap domestic brand. That will be my contribution to stimulating the economy. Confidence in the economy? No.

    May 22, 2008 at 2:44 pm |
  41. Ray,Florida

    Sure Jack!!

    The same way I feel when a car salesman say's :
    Oh Boy do I have a DEAL FOR YOU!!

    May 22, 2008 at 2:44 pm |
  42. miko Kansas city

    NO!!! Isn't this the second time in about 6 years that Bush has tried to revive his flatlined economy?? He hands out checks rather than do any real work to keep the economy afloat. Everyone loves money in hand, but really is it going to get our minds off the real issue?? A failing economy and a failing administration!! What a shame that he has to hand out checks!! It is just a smoke screen to get out minds off of his failings as a president. I can't wait to read the history books about his presidency, I hope they are accurate!!

    May 22, 2008 at 2:46 pm |
  43. Terry in Hanover County

    How many taxpayers have actually received these funds? We were supposed to get our rebate on the 16th but didn't. We called the IRS and were told they had a problem getting the money out but it would be here on the 23rd.

    The last report we heard was $15 million had received rebates, but what percentage of that figure represents the total number of taxpayers who are supposed to receive rebates via direct deposit? As usual, the IRS has mucked things up.

    IF we ever get a rebate, it's going into our savings to pay back the money we withdrew from that account to pay for gas and food this past month. Next month we may have to choose between feeding us or feeding the car.

    May 22, 2008 at 2:46 pm |
  44. Anthony Smith

    Nothing makes me confident in this Bushwacked Government. The only thing the $1200 provided us was gas money to our 4 jobs for a couple of weeks. And doesn't that go right back to George Bush and Big Oil? Just like Iraq...pathetic!!!

    Wildwood Crest, NJ

    May 22, 2008 at 2:46 pm |
  45. Bob Mueller

    No!

    Bob
    Illinois

    May 22, 2008 at 2:46 pm |
  46. Josh

    No, Because most of the people that got the rebate checks will be paying off bills and other expenses. The way I see it Jack, we have to at some point repay the money that we borrowed from other nations. Because all it would take to further screw up the economy is if China and the other nations we borrowed money from start demanding that we pay off our debt. I wonder if we would have to raise taxes just to either take care of our foreign debt or the huge national debt that we have under Bush.

    May 22, 2008 at 2:47 pm |
  47. Ryan, Champaign IL

    The rebate checks make me more confident in knowing that the Bush administration has no idea how to manage ANYTHING, and that will real leadership will come a reason to feel confident that we can make our way out of this mess.

    May 22, 2008 at 2:48 pm |
  48. MICHAEL

    I was going to say that the rebate checks were just a way for the politicians to buy off there conscience. But I forgot they don't have a conscience.

    May 22, 2008 at 2:49 pm |
  49. Jerry from Louisville,KY

    The rebate checks might as well be called gas cards and food stamps because thats are they are going to be used for. The price of gas is nearing $4.00 a gallon and the price of bread is ridiculous. I don't see how these checks are going to make that much of a difference.

    May 22, 2008 at 2:49 pm |
  50. Tom - Las Vegas, Nevada

    The rebate checks don't do anything substantial for the economy. They will slightly improve some economic indicators just before the November elections but they will have no long standing effect. If you really want to improve the economy more well paying stable jobs need to be created, that would have a long term impact by putting more money consistently in consumers hands and increasing taxable income and revenue to better support needed spending on infrastructure improvement nationwide. Which by the way would produce more well paying and stable jobs.

    May 22, 2008 at 2:49 pm |
  51. Festus, Montana

    No. Mine is gone already.

    May 22, 2008 at 2:50 pm |
  52. Jeanne, San Diego

    This is the type of thing that government bodies do when they're worried about getting re-elected and they think handing out money is going to make a difference in how people vote. It typically doesn't work because people are smart enough to see through it.

    May 22, 2008 at 2:51 pm |
  53. Julia, Kentucky

    Rebate check....what rebate check? We were supposed to receive ours on May 16th...well....still waiting....but I refuse to hold my breath...especially when dealing with our government...

    May 22, 2008 at 2:51 pm |
  54. garrick

    hi jack
    with gas prices going up I bought( 2 )5 gallon gas cans filled my car up and both gas cans,the check just wasnt worth the paper it was printed on. wonder what Bush did with his check.
    clearwater fl

    May 22, 2008 at 2:52 pm |
  55. sarah, Indiana

    once again the republican standby of trickle down economics has failed magnificently. (just as it did when Reagan and Bush I tried it). now the current bozo in chief and the useless clowns in congress think borrowing money from china to send out a few paltry checks will fix everything. we the people should show them the elected to the door. people that stupid should not be allowed to run for public office.

    May 22, 2008 at 2:53 pm |
  56. Tom, Avon, Maine, The Heart of Democracy

    The front page of today's Sunjournal has the headline, "Not So Stimulating."

    The couple pictured received $40.00 instead of the expected $1,200.00 they would have spent on heating oil.

    They said the "stimulus" was a big joke. Probably a joke on Bush if everyone is mad enough to invest their forty dollars in change by contributing to Obama in some hope of future government.

    May 22, 2008 at 2:53 pm |
  57. Jerry, Gurney

    The first thing I'm going to do when I get my stimulus check is buy your
    book. Jack,. . how much does it cost?

    May 22, 2008 at 2:54 pm |
  58. Susan Geear Medford Or

    The only thing I am confident about, is that credit cards bills are going to be paid more than the usual minium payment for one month.

    May 22, 2008 at 2:55 pm |
  59. Herb in Texas

    My $300 (I'm a senior citizen trying to live on Social Security) went to the grocery store. Oh, I did buy 15 gallons of gas.

    Let's hope there is a fair COLA this year, like 11%.

    May 22, 2008 at 2:56 pm |
  60. Russ in PA

    Confidence in the economy? In which economy? The Chinese economy? Or the Middle-Eastern economy? How can a $600 rebate check – our own money – give us confidence in the US economy? Particularly when the Putzs' in the Congress are overspending OUR money like its theirs?

    Throw the freakin' bums out!

    May 22, 2008 at 2:56 pm |
  61. Allan,Cameron Park, Ca.

    It is stupid. We are sticking future generations for our over spending.
    Haven't we saddled them with enough debt already.
    This Administration have created a debt beyond comprehention, after starting with a surplus. The future is in jepardy, Thanks King George

    May 22, 2008 at 2:56 pm |
  62. Mike, Syracuse NY

    No Jack, I make too much to get a rebate check. But don't worry, with President Obama I'm sure many more of us will be taxed to the point where we qualify for rebates. However, snice I can't wait for that, I'll just go down to the street corner and start handing out $100 bills to perfect strangers.

    May 22, 2008 at 2:56 pm |
  63. Terry from North Carolina

    Jack Jack Jack
    What are you smoking ? I have – 0 – confidence in our economy and I have – 0 – confidence in anyone improving it in the near future. $ 132.00 for a barrel of oil. Do you think this will ever come down below $ 100.00 ever again ?

    May 22, 2008 at 2:56 pm |
  64. Kevin in Mass

    Jack, say what you want but in my lifetime George Bush is the only President or politition for that matter that ever gave anything back to the people. Whether it was a good idea or not I am not qualified to decide but I do appreciate the gesture.

    May 22, 2008 at 2:59 pm |
  65. Adam Mercer

    Jack,

    The rebate checks might just afirm people's doubts about the economy...think of it this way, if the government had any faith in the strength of the economy, would they be giving money away to convince people of it?

    May 22, 2008 at 2:59 pm |
  66. Beverley, Fredricksburg Va

    Jack,

    I'm not willing to throw my lot in with a bunch of Bush Economist!

    May 22, 2008 at 3:00 pm |
  67. dennis hunter

    What economy? its all down hill with Bush and the oil barons.

    May 22, 2008 at 3:00 pm |
  68. Kathy/Marietta, GA

    No. It has to be a trick.. This government has tricked us since 2000 and the introduction of the hanging chad. Don't tell Hillary, she will somehow use the stimulus checks as yet another reason for her losing.

    May 22, 2008 at 3:03 pm |
  69. JW Georgia

    Six hundred dollars to me is six hundred dollars added to the debt, which at the moment is at 9.4 trillion. Broken down, that means every man woman and child in America owe $30,844.00 each. Strikes me it's pretty much a bargain with the devil. However my larger worry is inflation which is not being faced truthfully by our fiscal fiduciaries.

    May 22, 2008 at 3:04 pm |
  70. Kevin from Denver

    Yep, It's the same warm and safe feeling I used to get when the blue light started flashing and I heard the clarion call of "attention K-Mart shoppers." What ever happened to that blue light?

    May 22, 2008 at 3:05 pm |
  71. Tom in Desoto Texas

    We received the $1200 check yesterday. Thanks George, for not wasting MY money. If I had confidence in the ecomony I might spend it, but I'm not.

    May 22, 2008 at 3:07 pm |
  72. Stephanie from Atlanta

    I hardly know where to spend the whopping $600 the government is sending me. A yacht? Diamond tiara? Heated indoor swimming pool? I mean, really, what did they think $600 would buy us – especially in the middle of a Recession with soaring gas prices? If this proves anything, it's how out of touch with reality our wealthy Congressional Members are.

    May 22, 2008 at 3:08 pm |
  73. Jon from Austin, TX

    I do not know a single American who has confidence in our economy at the moment. Sure, some are better off than others, but the value of our dollar buys us squat in Europe and the UK, many home owners are getting the shaft from the mortgage meltdown, and the price of almost everything around us is going up.

    May 22, 2008 at 3:10 pm |
  74. Jayne in NH

    George's parting gift, as I prefer to call it, amounts to nothing. He would like us to run to the local mall and blow it, but that would only help the Chinese economy. What we need is an end to the outsourcing of our jobs. It's not rocket science. No jobs, no money, no buying power, no economy.

    May 22, 2008 at 3:10 pm |
  75. Mary - California

    Jack – I have not received my rebate check yet – so who knows?
    One sure thing about the government, they can keep you guessing.
    If this rebate check is supposed to bump up the economy, is it really going to make a difference?

    May 22, 2008 at 3:11 pm |
  76. Conservative -CA

    Anyone who think the gas tax holiday is a good idea, would also think rebate checks are good for the economy.

    Everyone knows these rebate checks are small little bandaids trying to cover up a severely injured economy.

    May 22, 2008 at 3:12 pm |
  77. Dawn Nemeth

    I would like to know how the oil company executives plan to spend our rebate checks, I know most Americans will be spending them at the pump just to get back and forth to work for the next couple of months

    May 22, 2008 at 3:12 pm |
  78. Steve C

    Jack,
    No it does not. The majority of people who get the rebate checks are just going to waste it on things they do ot need. This is another failed attempt by Bush to make the country believe that he is sincere. The money should have been put to better use, maybe into R & D on how we can become more fuel efficient. But with all the personal profit that Bush has made form the skyrocketing oil prices, why would he want to do that?

    Steve C,
    Laguna Niguel, CA

    May 22, 2008 at 3:13 pm |
  79. George

    By the time I get it, I might be able to buy two barrels of crude oil. Then I'm going to put it in storage until it goes to $300.00 a barrels then sell it, and buy one more, and repeat my move. This kind of economics work for the U.S. government, so why not me...Isn't this just stupid.

    May 22, 2008 at 3:14 pm |
  80. Ron from Colorado

    You mean the rebate checks financed through loans from China?
    Really, a continuatiion of "bad management" does not give me confidence.

    May 22, 2008 at 3:35 pm |
  81. marti thompson

    I THINK OBAMA IS WONDERFUL.......

    May 22, 2008 at 3:35 pm |
  82. Marie

    Jack, people aren't little kids who change their mood just because you buy them ice cream. We've got a big problem on our hands, and we need some real leadership to resolve it rather than perpetuate it for eight more years.

    May 22, 2008 at 3:54 pm |
  83. Mark, Oklahoma City

    NO, it gives more confidence to the Oil Companies, because they know we will be forced to spend it ALL on $5 dollar a gallon gasoline that's coming!

    May 22, 2008 at 3:54 pm |
  84. Michael Bower

    Jack,
    The rebate checks for me are really just a symbol of the gross mismanagement and incompetance of this current administration. Of course, I will cash mine, and fill up my gas tank. I should have just enough left over to buy an Obama T-shirt.
    Michael Bower
    Rocky Hill, CT

    May 22, 2008 at 3:55 pm |
  85. Bruce

    No, I don't like the government taking out a loan in my name.

    May 22, 2008 at 3:55 pm |
  86. Russ, Seattle

    I'm going to walk to the grocery store and get the bag of groceries it will buy by the time the check gets here. Then I'll watch Lou Dobbs and be very afraid.

    May 22, 2008 at 3:56 pm |
  87. John (Topock, AZ)

    This incompedent boobs in this government can not buy my confidence. Well, not for $600.00 dollars.

    May 22, 2008 at 3:57 pm |
  88. Allen L Wenger

    Let me answer today's question with an analogy. You are in a company that is losing money, there are rumors of bankrupcy, and you think your boss is grossly incompetent. Your boss says that he is going to fix the company by giving all employees a $1,000 bonus. Would this make you more confident in the companies future?

    May 22, 2008 at 3:58 pm |
  89. A Kraft Naples, FL

    not unless food and gasoline count

    May 22, 2008 at 3:59 pm |
  90. Greg ...Cabot AR

    The government rebate program scares the heck out of me....

    The price of gas and everything else has gone up so much since they announced the give-away program that I think things are much worse than they are lettting on and there is not much relief in sight with predicitons of much higher prices before the last checks are mailed in July....

    The 600 bucks they are handing out appear to be a bribe to prevent a revolution at the ballot box in November against our leadership that enjoys an approval rating of less than 20%

    May 22, 2008 at 4:00 pm |
  91. Pat

    Jack – My rebate check will be $79 according to the IRS calculator. That means I can buy a tank of gas or get groceries - but not both. Oh joy!

    May 22, 2008 at 4:05 pm |
  92. Rob Parker, Panama City, FL

    When the fire department pulls up to my house screaming, I'm just as confident that my house isn't on fire. The checks are a pathetic attempt at damage control. The cost will be borne by the taxpayers YET again! It is a complex way for the Federal Reserve to "loan" tax revenue to boost capital reserves at financial institions! They know that no one in the current environment is going to spend it!

    May 22, 2008 at 4:06 pm |
  93. whiplash

    I wonder if President Bush used his rebate check to pay for his daughters wedding,, HA HA

    May 22, 2008 at 4:08 pm |
  94. Johnny

    I used my rebate check to offset the interest I lost in my money market account.

    Whooo Hooooo

    May 22, 2008 at 4:08 pm |
  95. Randy N

    Jack, the economy will only start to get better once the Bush Administration leaves. These stimulus checks was spent in necessary items just as fast as a paycheck. We work for gas now, the Government just only paid us to give big oil more money to put towards them profits and cry more poverty!

    May 22, 2008 at 4:08 pm |
  96. CV

    I really appreciate the government being genrous enough to give me my money back! That said, it's not enough to offset the rising cost of energy. How much more of this will we take before we demand that ANWAR and more of the coast lines be opened for exploration? And can I get a new refinery while you're at it?? Things are bad now, but imagine what WILL happen this summer when a hurricane crimps supply from the gulf. I'm saving my rebate for that. It should get me a half tank or so...

    May 22, 2008 at 4:09 pm |
  97. peggy

    The elites are so out of touch with reality, they actually think that a mere thousand bucks will make a difference. What we really need is jobs that pay at least a thousand dollars more than we currently make, and we need that thousand dollar raise each and every month. That and health insurance, a pension, and affordable education.

    May 22, 2008 at 4:09 pm |
  98. John in San Diego

    Jack, no! The insignificant checks only make me more ashamed at the simplistic Bush administration that thinks giving away crumbs from our deficit, while over-spending on the war and other nonesense is any form of economic solution

    May 22, 2008 at 4:10 pm |
  99. Rick

    I decided to use the $600 refund to leverage a large loan from the local bank for $600,000, and take the $600K to buy a huge home for $2M and then get a homoe equity loan for $600K. Now I have a home and the $600K. I will then buy stock for $600K. Use the stock as collateral to get a loan from my neighbor for $100K and go on a vacation to Hawaii.
    Oh, I forgot only Wall Street can do that. And, when Ifail to make the payments Uncle Ben will bail me out. I love the way we change the rules and defintion of capitalism. Beginning to look a lot like socailism for the rich and powerful
    Rick

    May 22, 2008 at 4:11 pm |
  100. Karen Ducote

    No the rebate checks don`t give me confidence in this economy. With
    rising gas, food prices and more Americans in debt, there`s no way
    a consumer like me can spend our way out of debt. My rebate check
    is already gone all $1200.00 of it. But I did take $40.00 dollars to invest in two gas locking fuel caps for our vehicles and no I did`nt stay
    at a holiday inn express.
    Karen Ducote
    Myrtle Beach SC

    May 22, 2008 at 4:12 pm |
  101. Lele

    NO WAY NO HOW..my rebate went to the student loan company..Just simply ridiculus..This economy is in shambles as are most american's pocketbooks! Please we need change!!! OBAMA '08!..he is our only hope!

    May 22, 2008 at 4:12 pm |
  102. Mike - Decatur, Ga

    I'm using my rebate check to pay my taxes. I feel stimulated...

    May 22, 2008 at 4:14 pm |
  103. Anthony

    I have know of only 2 people who have received their rebate check. I will most likely use it to buy gas this summer since it is $4.00 per gallon and its not even summer yet. Under Bush used up our cash surplus and now we are in debt to the Chinese and are begging the Saudis for more oil.

    May 22, 2008 at 4:30 pm |
  104. Matt

    Jack,

    you do a great job. Always liked watching you even when you were on the local news in NYC.
    The answer is no it does not make me more confident. I put the money in the bank to pay for gas, food, and bills. No plasma screen tv for me. Like someone else mentioned earlier, I need two more checks before I can think about buying any toys. With a family, a wife and two kids that need to eat I have to think about survival before pleasure.
    Thanks for your questions. Keep up the good work.

    PS. I got the bike out of the shed and just bought a helmet. I will be biking to work tomorrow so one car can stay at home since gas just went up another 10 cents overnight. Glad I filled up yesterday.
    Matt
    Norwalk, CT

    May 22, 2008 at 4:30 pm |
  105. Paul from Houma, Louisiana

    Not really, everyone I know will just put it in the bank or pay off some debt. I also don't know anyone who actually received the check yet.

    May 22, 2008 at 4:30 pm |
  106. Dennis E., Clarksville, TN

    Jack,

    We thought about buying some furniture or something nice for our house, but now we use it to pay our prescription drug bill. Why didn't Congress eliminate the middle man, US, and send it right to the oil and drug companies

    May 22, 2008 at 4:30 pm |
  107. Kimmyber, St. Petersburg

    No! With these rising gas prices it will be going with the rest of our money to the middle east.

    May 22, 2008 at 4:30 pm |
  108. Joe

    The government checks do nothing to make me feel better about the US economy. I'm sure this holds true for a majority of Americans. It DOES make me feel slightly better from my own financial standpoint... atleast for the next few weeks.

    The overall US economy is hurting, and will continue to do so for the foreseeable future. These checks are only going to have an impact on an individual basis, and the impact presented is on a case by case basis.

    May 22, 2008 at 4:31 pm |
  109. Jim, Illinois

    All the above comments are precious, but I'll go you one better! A year ago I thought I was being smart by making a large contribution to my IRA for a rainy day in the future. The result was a large "savers tax credit" that wiped out my tax liability of about $1,000. Because I was being prudent, with no tax liability we got the minimum stimulus payment of $600 instead of $1,200. Go figure!

    May 22, 2008 at 4:31 pm |
  110. Jerry

    I'll use my rebate check to pay my health insurance for two months, I forgot that I'll need a small loan Jack to even do that. Do you have an extra $25 bucks?

    May 22, 2008 at 4:31 pm |
  111. Greg in Indianapolis

    Isn't the fact they have to send checks out to jumpstart the economy enough to give people doubt? Here's some free money, but buy something so we get it back because we desparately need it.

    May 22, 2008 at 4:31 pm |
  112. Tom - Tucson, AZ

    Jack-

    How in the world could $600 make people feel more confident in the economy? As we found out, that would now barely allow you to pack an extra bag on American Airlines. Receiving this check made me feel like a little kid receiving candy to just sit still and be quiet. "Hey I started a war we can't afford, have an economy it the tank and my oil buddies are raking it in, but here's $600 so just sit still and be quiet until oh, maybe January 20, 2009."

    May 22, 2008 at 4:32 pm |
  113. Derek in Rancho Cucamonga, CA

    I spend a $100 a week on gas and $250 a week on food to feed a family of five.

    What do you think?

    May 22, 2008 at 4:32 pm |
  114. Donna

    Are you kidding me?
    The rebate checks show you how bad the economy really is, that the government will give you some money for nothing and cross their fingers that you spend it!

    May 22, 2008 at 4:33 pm |
  115. Pippie in Prunedale, CA

    Dear Mr. Cafferty, My parents just recently purchased me a new kitten...his name is Hunter. So far, Hunter's vet bills have amounted to $300. He's destroyed the couch, the drapes and the carpet, which all need to be replaced. Oh well, there goes the other $900. But look on the bright side, if everyone bought a kitten, just imagine how great the economy could be.

    Love,
    Pippie

    May 22, 2008 at 4:33 pm |
  116. JC

    Stop blaming otherf countries for Americans' overspending problems. For most of us, we have only ourself to blame for, especially those voted for Bush.

    May 22, 2008 at 4:34 pm |
  117. Martha Tolley

    What rebate? Myself and at least three others who were to receive their rebate on May 16, according to the irs.gov website, did not receive it. Jack, can you find out where our rebates are? At the rate gas prices are going up, by the time we get ours, it will take all of it to buy a tank of gas! Forget about groceries and medicine!

    May 22, 2008 at 4:35 pm |
  118. Gene, Jacksonville, Florida

    Jack, let me get this straight. The feds borrow money to give the wealthy tax cuts, which they spend on their european vacations and oil futures, raising the price of gas, groceries and everything else. Meanwhile the feds borrow more money for rebates and John Q. Middleclass gets a few hundred bucks in tax rebates and has to spend it on higher state and local taxes and fees, rising utility and college tuition payments due to budget deficits created at the state and local level because federal funding of the states were cut to pay for the tax cut for the wealthy? And they want me to be confident in the economy?

    May 22, 2008 at 4:35 pm |
  119. Jerry

    These checks are only being used to take a Poll of people and obtain information about people that never file a tax return for their UNION OF THE AMERICAS!!

    May 22, 2008 at 4:35 pm |
  120. Kirk (Apple Valley, MN)

    My confidence in the "economy" crashed the morning after Bush was "elected" in both 2000 and 2004. His stupid $150 billion torn and loose economic band aid won't do squat to resolve the situation he created by invading Iraq over 5 years ago. It's hilarious that $150 billion was allocated to 130 million American's to "solve" the economic woes of the country and then a few weeks later, $200 billion were allocated to support 150,000 troops, not to mention the corrupt Iraqi government, that is supposed to last a year. Bush has screwed the pooch so badly he has to now rob from Mary to pay Peter and Paul for the money he stole from them.

    May 22, 2008 at 4:36 pm |
  121. John

    If you are so unhappy with the check, send it back. Have an attitude of gratitude. I imagine that many of the people commenting here are the same people responsible for the mess we are in now... U.S. taxpayers who spent too much on houses, clothing, electronics and vehicles they couldn't afford. "I have seen the enemy, and he is us" Pogo

    May 22, 2008 at 4:36 pm |
  122. Sharon Illinois

    Not at all–just the opposite. I am probably alone, but I think the rising price of gas is just was is needed to wake people up; too many have been asleep or ignoring the fact that petroleum is a finite resource and we are no longer the only country using massive amounts of it. It is also ruining our precious atmosphere and threatening all life on the planet. It may, finally, get the government off its collective arses to start heavy funding of alternative energy sources–something that should have been done a decade ago or more. To me, the higher gas costs go, the faster this will happen and the better our chances to survive ourselves.

    May 22, 2008 at 4:36 pm |
  123. Cliff

    You need to ask?
    Cliff, Richmond,Ky.

    May 22, 2008 at 4:36 pm |
  124. Norm

    Are you serious Jack? Those clowns in Washington don't know the difference between investing and spending. They should have invested the money in our crumbling infrastructure. Since when does mortgaging one's future by spending money one doesn't have help anyone except bankers?

    Norm in Yulee, FL

    May 22, 2008 at 4:37 pm |
  125. Elli

    Don't be funny, Bush doesn't care about the consumers, how can $1200 change your credit card debt or mortgage problem?
    This is a $150B boost for the retail / large corporations, who ARE going to end up with the big money.

    May 22, 2008 at 4:37 pm |
  126. austinite

    My wife and I recieved our rebate check of only $600! What happened to the $1200! Empty promises. We filed jointly, so we should have recieved $1200. If we filed seperately, we should have gotten $600 apiece. Are we the only couple experiencing this?

    May 22, 2008 at 4:37 pm |
  127. Vince S. Chicago

    No. For a family of four, rebate checks barely cover a months worth of groceries plus the gasoline used for shopping and travelling to work. I have not received my check but I already know that I will be holding on to my check for an emergency. Pres. Bush assertion that these checks will stimulate the economy is based on faulty information. The rising costs of goods and services makes the rebate look like inadequate. Why not keep the money and cut taxes.

    May 22, 2008 at 4:37 pm |
  128. Nathan in Florida

    My bankruptcy trustee took my whole $300. So I didn't even get a chance to use it how I saw fit.

    May 22, 2008 at 4:39 pm |
  129. kathy

    For those of you who think you are getting a 1200.00 rebate check, you might need to think again. My husband and I are supposed to get 1200.00 and we make less than 25,000 a year, We got a letter the other day saying we are getting 634.00 back. We don't know why, and I'm sure it will take an act of congress to find out why. We will probably never know.

    Kathy

    May 22, 2008 at 4:40 pm |
  130. Martha

    From: Martha, Asheville, NC
    What rebate? Myself and at least three others who were to receive their rebate on May 16, according to the irs.gov website, did not receive it. Jack, can you find out where our rebates are? At the rate gas prices are going up, by the time we get ours, it will take all of it to buy a tank of gas! Forget about groceries and medicine!

    May 22, 2008 at 4:40 pm |
  131. Sylvia-Dallas Texas

    Will believe it when i see it, was suppose to get 2nd week in May. Will try and save a little, but mostly catch up on some bills.

    May 22, 2008 at 4:41 pm |
  132. Andy

    Actually, my property tax is due this month and it is about $600 more than last year. So, I suppose the Federal government is just trying to fund the local government; while let me see the money in my bank account for about 7 days..... The good news is that a part of the economy is going better – bank payment processing businesses, check printing company, post office, ads/media (get ads dollar for tax rebate special deals etc from businesses); the bad news is that the money stays still in the governments account somewhere, not mine.

    May 22, 2008 at 4:41 pm |
  133. Jim C.

    The rebate checks make me less confident about the economy. The government is taking my hard earned tax dollars and floating them back to the citizens to spend, spend, spend. Why not keep the money to fund Unemployment Benefits further for the folks really in need?

    I think giving families with children an added $300 per child is a slap in the face to all single, working people in this country. This country continually rewards people to have children. In case they haven't noticed, we already live in a world that is becoming increasingly over-populated. Why give tax rebates for each child in a family instead of charging taxes to have children?

    May 22, 2008 at 4:41 pm |
  134. Mike

    No not at all.
    I don't have confidence in anything that comes out of Washington.

    Mike

    May 22, 2008 at 4:51 pm |
  135. v

    Wasn't the checks supposed to bolster the economy, not bolster the OPINION about the economy? Aren't you asking the wrong question?

    May 22, 2008 at 4:51 pm |
  136. Ms. V in SC

    My daughter (age 23) recieved her check today. She will be paying her car insurance. We need a few more checks, and by the way, where is mine?!?

    May 22, 2008 at 4:52 pm |
  137. Anna

    I will not be confident in our economy until we bring manufacturing back to our country. We can not be confident in anything when we depend on all of our products being produced by other countries. Our companies depend on us to buy their products but they send jobs to India and China where they do not pay fair wages. They are exploiting the workers in countries where governments do not care about walfare of their people. We also need to stop corporate walfare and lower taxes for all people. Rebate check will not do anything for anybody.

    May 22, 2008 at 4:52 pm |
  138. Mike from Hopewell Junction, NY

    Absolutely not. My rebate check will go toward paying credit card bills and to offset the increased price in gasoline and food. This is just another stunt from the Bush Administration to money launder borrowed funds from China through the US middle class consumer to his buddies in banking and big oil.

    Another thing off the subject: Is Campbell Brown that naive to challenge Dick Durbin yesterday on CNN that the energy crisis is an issue created by the Democratic Congress when they faced record numbers on filibusters in the time they held the majority? Can you say Bush Administration gridlock?! There's a reason why Ralph Nader and others are asking for their resignation.

    May 22, 2008 at 4:55 pm |
  139. NotASpender

    I am greatful for the 1800 bucks I got back. We do not spend on silly things unless we have the cash – we have always been this way and it hass served us very well. I am going to take my 1800 and buy me a plasma! Funny, this "bad economy" hasn't affected our lifesyle.

    May 22, 2008 at 4:56 pm |
  140. JJ

    What does the rebate check have to do with confidence in the economy? If anything it shows that the Government acknowledges that the economy is in shambles and has to give everyone money to help keep our heads above water... for at least a little bit or until the election is over.....

    May 22, 2008 at 4:56 pm |
  141. cory,lessburg,fl

    not at all, we hurt why they make money, the they are the top 2%

    May 22, 2008 at 4:58 pm |
  142. Ryan, 22- Michigan

    I don't know about making me feel more confident, however I am very grateful. I am a bit disappointed though that I only received $300. I go to school full time and work, I can use any help toward tuition and books since both keep sky rocketing at the pace of fuel. I hope things turn around soon, especially here in Michigan.

    May 22, 2008 at 4:58 pm |
  143. Laura Schneider, Theodore, AL

    The rebate check was a boondoggle from the outset. $600 will not solve anyone's problems, much less the economy. With the price of gas rising exponentially, $600 is, if you're lucky and have a small car, about a dozen fill-ups. If you have a large SUV, $600 is not even a respectable downpayment on a smaller, greener vehicle. God forbid that you actually owe taxes and have to give it back to the IRS. What a joke!

    May 22, 2008 at 5:01 pm |
  144. mr.singh

    Look, the Democratic Congress can't do much when they don't have majorities plus Bush always says, "Don't bring me a bill with this or that 'cause I'm goona veto it!" That guy is a big rant!

    Bless the Democrats with WH and Congress, and you'll see action for the good! I have no doubt!

    And why always rant on India, hey, at least they're Democracy! And we don't spill like lotusts into America like those in south border!

    May 22, 2008 at 5:01 pm |
  145. Ann

    No, it doesn't make me more confident of the U.S. economy. I am getting more and more discouraged and without hope for our country if Obama is the nominee. We will go even further under. God help us! Hillary is the only one who can save this country now.

    May 22, 2008 at 5:02 pm |
  146. Robert, Georgia

    Wonder if this gesture made George sleep better at night? With a little luck I will be able to buy some groceries, buy some gas, pay off existing utility bills and keep my family out of homelessness. We now have to figure out how we and our childrens children will be able to pay down the National Credit Card. Our children will now have to take three jobs to pay off the foolishness of this administration. George never met any of your money he didn't want to give away.

    May 22, 2008 at 5:03 pm |
  147. Idelma Alvarado

    NO WAY!!! the Miserable amount received won't even cover the cost of GAS!!
    Our economy is getting worse and with rising gas & food prices Americans are only getting deeper and deeper in debt!!

    This only proves the incompetence of our administration!

    May 22, 2008 at 5:03 pm |
  148. dolly lynch

    no it does not boost my feeling toward a better economy.. The cost of living and gas increasing that's only going to let you pay 1 or 2 bills and get gas.. dallas tx

    May 22, 2008 at 5:04 pm |
  149. Paul

    Jack,

    First and foremost, the rebate check does not make me confident in the U.S. economy. Next, and more importantly, the checks should have been used to mandate Solar Panels on our homes and improving our roads. This would accomplish two goals: oil independence and jobs for Americans!

    Let the revolution begin, here and now, with us!

    May 22, 2008 at 5:05 pm |
  150. G Bush

    My final answer, No Jack. My $600 is going strictly to food, and if I'm lucky to have $50 at the end of the week, I'll treat my car to a few gallon of gas so I can drive to the work the following week rather than my typical commute using my daughter’s bicycle. Just like Lloyd Braun from Seinfeld states “Serenity now, insanity later”. Thanks to Bush and the clowns in congress, much appreciated.

    May 22, 2008 at 5:12 pm |
  151. Sam

    NO! We owe back taxes and it will get applied there. While we're not upset about that, it doesn't stimulate the economy and that's the what these checks are supposed to do.

    May 22, 2008 at 5:12 pm |
  152. Raymond Duke/Gatesville,Tx.

    No it is not going to make much of a difference with the gas prices and food prices as they are today. On the other hand if we could use all that butt kissing Obama gas that jack spews we could all save them rebate checks for our retirement. I know that his knees and lips must be scabed over something terrible.

    May 22, 2008 at 5:15 pm |
  153. Teri in Palm Coast, FL

    No. Why would borrowing more money from China make me feel good about the economy? Especially since my grandchildren will be paying off this little 'gift'! Borrowing money from China that will eventually go to OPEC nations is not something that gives me confidence.
    Teri
    Palm Coast, FL

    May 22, 2008 at 5:15 pm |
  154. richard a. winkler

    First of all, they tried to sell this thing as six hundred for each person. My wife and I just received six hundred for both, so for us it is three hundred each. Today three hundred is a joke. Our government is a joke.

    May 22, 2008 at 5:15 pm |
  155. Bill, Costa Mesa, CA

    Jack, I received my $900 check last week. I took $400 of that and did what I was "supposed" to do and spent it. I put the other $500 in savings, as gas here in southern CA now costs more than $4 per gallon I figure I might need to tap it before long. The American people are not as mentally challenged as the government likes to have us believe-we see prices soaring every day, no matter what the economists say. It's hard to feel confident about the economy when the people who are supposed to tell us the truth about it aren't doing so.

    May 22, 2008 at 5:16 pm |
  156. Bill in New London, CT

    No. It just means we are further in debt to China which will lead to even more problems. Being in financial trouble as an individual, I need to use that money to catch up - a little. If it weren't for that, I would send the damn check right back. Aren't we spending like 30 bazillion dollars a minute in Iraq? Don't we need to provide relief to foreclosed home owners and bankrupt lenders? What are these idiots thinking? I got an idea...how 'bout we charge $1.50 a gallon for gas like we did before Bush took office? How 'bout we cut middle class taxes and make the rich pay what they can afford? How 'bout we, we as voters, deliver the stinking government a stinking economic stimulus package in the form of a Democratic president, Senate, and House - return things back to the prosperity and budget SURPLUS of the Clinton administration! I bet nobody's laughing at Al Gore's "lock box" anymore.

    May 22, 2008 at 5:17 pm |
  157. John Bice

    Jack,
    The rebate checks are just another way to show how stupid the Government is, because no more than 20 % of the money the people receive is going to be spent in stores. The other 80 % is just going to be stuck in the bank to be saved. Tell me what good that is going to do towards boosting our economy.
    John

    May 22, 2008 at 5:19 pm |
  158. Jean Lomont, Virginia

    Jack,
    In 1972 when we had the oil embargo it was a ploy by the oil companies. I worked for Shell at the norco refinery in Norco, la. and Gasoline was 36 cents a gallon. the holding tanks at that refinery were full and could not hold anymore. Once the price got to 72 cents a gallon there was plenty of gas. I worked in the accounting dept. that was responsible for keeping tract of the tank levels.
    so when they say they had 40 billion in profits, the congress woman was right, Profit is after all expenses, operating, investing, salaries and costs. that is what profit means.
    Jean lomont,
    Virginia

    May 22, 2008 at 5:20 pm |
  159. Lori

    Absolutely not. This was a bad idea, more for show, and the long term impact on the national debt is something no one wants to discuss. If consumers and government spent within their means the country could avoid many of these fiscal disasters.

    May 22, 2008 at 5:20 pm |
  160. Taylor, El Segundo, CA

    I don't get a rebate check, but if I did, I'd take it to Mexico or Canada and spend it all there just out of spite. Fix the gas prices. Then I can spend money at the mall instead of spending it trying to drive to the mall.

    May 22, 2008 at 5:21 pm |
  161. Bill from New Mexico

    Jack,

    These rebate checks are a bit like having the fire department hand you a wet sponge if your house was on fire and then expecting that this would make you feel better about the whole situation.

    Bill

    May 22, 2008 at 5:21 pm |
  162. lou from Iowa

    I own a store that is in serious need of some customer traffic. So far, I have seen no effect from the stimulus checks on my business. We've gotten pretty good at predicting sales from week to week with the rise and fall of gas prices.

    May 22, 2008 at 5:22 pm |
  163. Gigi in Alabama

    Bush could try stimulating the economy by putting a hold on these speculators in oil. Congress can talk til they are blue in th face and all those speeches and postering will not accomplish a blessed thing. It is obscene the amount of profit that the big oil companies make. That and speculation is what is killing our economy at the moment. It wouldn't hurt if they would take on China and India about unfair trade practices too. I went to Hobby Lobby the other day and the only thing I could find that was made in the USA was "Silly Putty". Congress and Bush must have silly putty for brains.

    May 22, 2008 at 5:25 pm |
  164. mark, Temple TX

    This is a typical election year gimmick to make it look like the politicians are doing something for the people. This is just like the Hillary/McCain vacation gas ploy. It's amazing we get anything done in this country. We must be the laughing stock of the world with this so called leadership.

    May 22, 2008 at 5:28 pm |
  165. Randy Dallas TX

    Jack,
    My 401 is down $60,000.
    My house value is down $20,000
    Some economic advisor decides ethanol will solve our energy issues and we see how that is working on food and overall inflation.
    Yeah, a $1,200 rebate will fix everything.....NOT!

    May 22, 2008 at 5:35 pm |
  166. Thomas, Yo.town, OH

    I'm worried more about my health insurance. This year my rates jumped a whopping 33% to $984.00 / month (Anthem BC and Shield).

    A $1200 rebate is nothing especially since I owed over 10x that in taxes.

    Should I go on? By the time summer rolls around, $1200 bucks will get you 13 fill ups on your car and then it's gone. I point my finger at George Bush and ask him if he has any of these problems? Answer: He doesn't have a clue. He's well taken care of as well as McCain, who's hobby is government and the Clinton's who make their money off the taxpayers.
    I ask, why would anyone invest 2 million dollars in a gov't campaign for the Presidency??? Must be more to it then all let on.....to be valued that much.....is it a quick way to get wealthy?? Ask Bill Clinton.

    May 22, 2008 at 5:35 pm |
  167. Lou Lasser

    The congress has an 18% approval rating and a confidence rating in the minus range. This rebate amounts to less than the tax-free earmarks congress took for themselves...

    May 22, 2008 at 5:35 pm |
  168. Wayne

    Mr Cafferty:
    Your question begs the point. Fact is the Republicans have made such a mess of things over the last few years that no one is going to have any confidance in anything till they are all gone! All I can say is vote in November.
    Opinion from Montgomery Texas proud home of the Texas Flag!

    May 22, 2008 at 5:35 pm |
  169. len

    jack i recevied my rebate check and i have a wicked shopping addiction i took 50 dollars and put the rest in a savings account i will wear what i have over and over again and go to mcdonalds once a week or so and get something from te dollar menu so now i have 49 dollars to car pole with my co-workers good luck to everyone out there because it will get tougher.

    May 22, 2008 at 5:36 pm |
  170. Rishi Colonia, NJ

    When the government gives us our own money back, it really goes to show how big of a mess this is.

    May 22, 2008 at 5:36 pm |
  171. Gayle Jacksonville, Illinois

    No Way Jack!!! It's gonna take more money to than the Prez sent me to get back my confidence. They say money can't buy love, what makes you think it will buy confidence? My confidence is not for sale!

    May 22, 2008 at 5:37 pm |
  172. JB, Houston, Tx

    I didn't get a check, but I am still saving 40% of our income and spending, although I just spent a ton of money in Italy thanks to the exchange rate.

    May 22, 2008 at 5:39 pm |
  173. Amanda M - Chicago, IL

    How does adding billions of $$ in more debt help me have faith in my economy???

    May 22, 2008 at 5:39 pm |
  174. Travis ( In the real world)

    Did George Bush and family, his Daddy and family all get checks too? I'm going to write George and see what he did with his, then do the opposite. Because I don't have millions to add it to.

    May 22, 2008 at 5:39 pm |
  175. Tony G

    I bought a HOUSE with my check! Now that home values have fallen to almost nothing I can afford one! And I'm not talking about using the check as a down payment. I actually bought the ENTIRE house with my $900 check! Yay for me.

    May 22, 2008 at 5:40 pm |
  176. James Tilton

    they give me a warm fuzzy... i see it more as an attempt to buy votes for republicans....

    May 22, 2008 at 5:41 pm |
  177. James Tilton

    they don't give me a warm fuzzy... i see it more as an attempt to buy votes for republicans....

    May 22, 2008 at 5:42 pm |
  178. Swapna

    Absolutely not. In fact, they make me feel worse. This $150 billion dollars should be going towards programs that can fix the economy on a large scale, rather than provide a pittance for individuals and couples. $600 or $1200 isn't going to save people from foreclosing on their homes or losing their jobs. It's just delaying the inevitable and, quite frankly, it's insulting to the American people. It's like George Bush and a Democratic Congress saying "Hey, we know we can't work together and, as a result, we've driven this country in the ground. Most of the rest of the world hates us (and rightly so), we're losing jobs to countries whose leadership aren't in shambles and whose priorities focus on educating their citizens rather than pandering to them, and our generation may be responsible for the destroying the planet and causing the end of human civilization, but here's a few bucks to make yourself feel better about it for a couple of months."

    May 22, 2008 at 5:44 pm |
  179. Mark, Ohio

    I don't qualify for a rebate check. I do qualify for the AMT. How do you think I would feel about this? Sometimes I think we might all be better off if we paid congress not to be in session.....ever.

    May 22, 2008 at 5:45 pm |
  180. J shultz Memphis, Tn

    Jack,
    Noway. I will not be receiving one of those baby's because of my income. I probably will be tagged for paying extra taxes to help cover those checks. This might come as a suprise to many ...BUT.... my pay check is ALSO going less far......and I cannot necessarily say that I am better off than several years ago. You know this country needs to be inclusive. I am single and have paid many more times taxes than most. I do not mind.............but I often wonder how generous the system will be to an old single white guy if things were to get rough for me ??? "I doubt that Uncle Sam has anything in the bag for me !!"( "Wizard of OZ").

    May 22, 2008 at 5:45 pm |
  181. Chad

    Did it help "my" economy? Yes it did, I invested my 600 bucks (along with extra money i had laying around) in to good Growth Stock Mutual Funds and plan to put that money to work and make it grow over the next 5 to 10 years. Will it help the General Population, No.. it won't. Because most of this country is so far in debt and have all thier income so strangled by credit card, car, mortgage and other loan payments that they cant see the end of the tunnel, just the light of the oncoming train. Now before ANYONE claims I'm some rich tycoon.. let me assure you I am just a regular joe making about 10 bucks an hour in the manufacturing industry. I live on a well planned budget, I make sure I stick to that budget, have an emergency fund of 6 months of living expenses JUST in case. and I'm debt free. When you dont have any monthly loan payments, its amazing how easy it is to build up a pile of cash to give economic security in these "uncertain" times. In this situation, Gas just hit 3.75 a gallon here, and while it did get my attention, financially, I hardly notice it. Do I like spending this much on gas? No of course not, but it isn't going to bankrupt me either. Because I have a plan and follow it.

    May 22, 2008 at 5:46 pm |
  182. LaVerne E Brison

    Jack my answer is heck no. I have been on disability for over six months and have to pay 667.00 a month for my health insurance until I go back to work. Thanks Mr. President. I did not vote him either time. LaVerne from Los Angeles.

    May 22, 2008 at 5:47 pm |
  183. mae

    i think the rebates should all be sent out by the end of may....also i think we ALL should get what we were told we were going to get.....who is pocketing the difference in these checks...some aren't getting there full 300 or 600. what is wrong with this country

    May 22, 2008 at 5:50 pm |
  184. jim

    Only getting bush and his oil cronies out of washington will make my feelings about the economy rise ! !

    May 22, 2008 at 6:13 pm |
  185. Mike,Iowa

    I think the rebate check idea is just another "quick fix" to patronise the american people into thinking the republicans have things under control and then to tell people to spend the money on things other then thier bills was just rediculous. If the prices would stop going up everyday on everything people could catch up or keep up with thier bills. We are not all rich greedy CEO's that can afford everything. They sit and collect the money that the hard working men and women of America make for them!

    May 22, 2008 at 6:13 pm |
  186. ava in alabama

    Yes, the rebate checks will boost the economy...but whose. I suspect it will boost China's.

    May 22, 2008 at 6:13 pm |
  187. Nick

    Jack,

    I am a college student who has to work full time in addition to full time study to be able to afford the bloated cost of a college education in today's America. I was sad to find out that because my income did not meet "guidelines" for a full rebate, the amount of my check was reduced from $600 to $300. How can we expect these checks to help the economy when the hardest working, lowest paid Americans are punished for not meeting "guidelines".

    Nick in New York

    May 22, 2008 at 6:13 pm |
  188. Amindeh Nkem Atabong

    No not all all Jack, all what the check does is to help the rich get richer and make the poor look miserable.I can't believe those who earned below 20k get just $300 meanwhile those above 30k get $600. My question is, who should be getting more of the money?those with little money or those with more money?

    May 22, 2008 at 6:13 pm |
  189. Susan

    The only confidence the rebate check gives me is that I can now pay by bankruptcy filing fee. Thanks George!

    May 22, 2008 at 6:14 pm |
  190. Marc

    Jack,
    The rebate checks do help. Please, send me another one!

    May 22, 2008 at 6:14 pm |
  191. Dmitry Tiumentsev

    Hey Jack.
    You know what would be really “funny”? If my Rebate Check will bounce…

    Dmitry

    May 22, 2008 at 6:14 pm |
  192. paul --portland, ore.

    Jack: Ah, yes, the rebate check. . .It's either a new Masserati or getting married, I can't decide. I'm almost 70, I'm tired of all the B.S. Too many people, too many cars, too many problems. . .How about $3,000 instead of an insulting $300? Ah, well. . .

    May 22, 2008 at 6:14 pm |
  193. Paul Laplante

    Prior to Mr. Bush sending this check, he was on tv in many occasions pushing for the people to go out and spend the money. It has nothing to do with him being care for the people. He just wants to continue helping the big corporations getting richer.

    May 22, 2008 at 6:14 pm |
  194. uma

    U.S economy has take wrong turn.The rebate check will have zero effect.I think this was the wrong idea to gift the people with the rebate check.If it was up to me i will tell the people send the daam check back to Bush.

    May 22, 2008 at 6:14 pm |
  195. Tony

    Jack I suck at math but I do know one thing when it comes to balancing my budget. YOU CAN'T SPEND MORE MONEY THAN YOU HAVE COMING IN and YOU CAN'T ROB CHINA TO PAY PAUL!!! Economics 101

    May 22, 2008 at 6:14 pm |
  196. Katherine, Rome Ga.

    Does the stimulus check give me confidence in our economy? hahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha No. Jack, The only thing givng me hope right now is the Obama candidacy.

    May 22, 2008 at 6:14 pm |
  197. Joanne

    No it does not make me feel more secure. How can they just keep printing money for rebate, war, all other expenses. We are going down the tubes fast.

    May 22, 2008 at 6:14 pm |
  198. T Smith

    I dont think the economy is any better. Im recieving $900, but I have been struggling & off budget for 10 months. With fuel and food on the rise too little, too late!

    May 22, 2008 at 6:14 pm |
  199. Marni Goldshlag

    Confidence? You gotta be kidding! I won't get one of those rebate checks because I didn't make enough money to qualify so who is it who's getting them? For sure not those with low incomes. This economy is in the sewer and it's not getting better no matter how many checks they send out.

    May 22, 2008 at 6:14 pm |
  200. Brent

    Thanks to runaway inflation, nearly $10 billion of debt and a weak economy, the rebate checks make me feel like I'm being given $1 while simultaneous being robbed of $10. $600 doesn't make up for the nearly 1000% increase in gas prices in the last 9 years or the expensive food we all have to buy. I feel cheated.

    Brent,
    Boston, MA

    May 22, 2008 at 6:14 pm |
  201. Walt

    No, receiving our check does not make me any more confident in the state of the economy. It might change after the Democrats take over the White House and gain a real majority in Congress.

    May 22, 2008 at 6:14 pm |
  202. Bestman Miami, FL

    Yes it has helped the economy, that's only if your talking about the oil economy. Most people will pump those rebate checks directly into their gas tanks. Thus, the people will drive more, and gas will continue to rise. I haven't received mine yet, but it will be a drop of water that wouldn't reach the bottom of the bucket.

    May 22, 2008 at 6:14 pm |
  203. Dave in Nashville

    Jack, the checks don't do much for me but throw in a loaf of bread and a circus ticket and they've got me!

    dave..nashville

    May 22, 2008 at 6:14 pm |
  204. Cathy

    They promised $600 for single persons who filed tax returns. I
    recieved a little over $400. I do not owe any back taxes, so why the
    $200 difference? No real answer.

    May 22, 2008 at 6:14 pm |
  205. Ken

    Dear GB43 –

    Thanks for the $600 – I now have gas money for the next 30 days.

    Love,

    Ken

    May 22, 2008 at 6:15 pm |
  206. Taye Bailey

    As a young american at on 30, I feel the rebate check was a joke to begin with so was electing GW into office. The morning I found out is the exact same way I felt when he explained his solution to our sluggish economy. WTF?

    May 22, 2008 at 6:15 pm |
  207. Robert, CA

    My rebate check most certainly didn't give me more faith in the economy, if anything it gave me less faith in the government. I have been saying all along that this didn't make any sense and wouldn't be the help we needed, and, it turns out, it wasn't, despite the claims of everyone in Washington... Gee, who could've guessed?

    May 22, 2008 at 6:15 pm |
  208. Mark from Oregon

    Oh... LOL. I needed a good laugh today. Thank you Jack

    The only thing that will restore my faith in the US economy would be if the US stops supporting all our jobs being shipped overseas and if we start trying to become oil independent by disbanning those organizations that stop drilling and refining of our own oil.
    We need to start taking care of our own here.. not there.

    May 22, 2008 at 6:15 pm |
  209. Helder

    While I'll definitely take the $600 bucks "cash" to pay some bills, it's an insult to the American taxpayers that have billions squandered on a daily basis throughout the world. I'd gladly give up my $600 for a restored sense of confidence in my country's fiscal well-being.

    May 22, 2008 at 6:15 pm |
  210. Todd

    Six hundred dollars??? It will take at least a couple million dollars, after tax, to buy my vote.

    May 22, 2008 at 6:15 pm |
  211. Beth Vanderstar

    What are they thinking there in Washington? My $300 will be in gas pumps and grocery stores in no time at all. Then what will the schlubs do for us?

    May 22, 2008 at 6:15 pm |
  212. G. Harris

    Well let's see, I will fill up my gas tank, buy a weeks worth of grocery's, then if I have enough left over,....see if I can take the 2 kids to get happy meals.

    May 22, 2008 at 6:15 pm |
  213. Roger

    Jack in my opinion the stimulus check is like trying to raise the level of the ocean by pouring a glass of water into it. Another try with very little thought. Trying to tell this president what is needed is like talking to a mwall.

    May 22, 2008 at 6:15 pm |
  214. warren yarber

    No Jack,
    It was just scraps off the corp / political table. Warren

    May 22, 2008 at 6:15 pm |
  215. Kyle, Goodwell, Oklahoma

    Jack,

    My money will be used mostly to pay for the increases in gas and food expenses. I suspect that very little of my rebate money will be used to accelerate the economy, instead it will be used to close the gap caused by increased food and fuel costs.

    May 22, 2008 at 6:15 pm |
  216. Erick

    Jack,

    I got our rebate check. It does not do a thing to boost the economy. How long have they been issued, obviously the economy is still in shambles.

    It didn't work last time, how did Bush expect it to work now?

    May 22, 2008 at 6:15 pm |
  217. Pam

    Of course we do not feel confident about the economy. At four dollars for a gallon of gas we are just the middleman to give US tax dollars to the oil companies.

    May 22, 2008 at 6:15 pm |
  218. Tina Tef

    I don't know Jack, unless of course pouring a gasoline onto a burning building has become a new and effective way of dousing the fire.

    May 22, 2008 at 6:15 pm |
  219. mark

    Government said here's your $300 or a $1,200 band aide to fix your boo boo, what we need is a turnakit to stop the bleeding and maybe will have confidence in the doctors prognosis of the problem.

    May 22, 2008 at 6:15 pm |
  220. Ed Denham from oroville ca

    Im Real Confident that if the economy was great we wouldnt be getting these Gas Rebate Checks? Cheap bread up to 1.28 thats a forty cent increase in 6 months Cheap Pot Pies that The wealthy wouldnt feed there dogs up 30 cents in the last 6 months on and on sothe story I mean my money goes!!!

    May 22, 2008 at 6:15 pm |
  221. Darrell

    The rebate money was used for the difference in cost of gasoline from the time they started talking about the rebate checks to the time the check was received. The check was still not enough.

    May 22, 2008 at 6:16 pm |
  222. SHIRLEY BURK POULSBO WA

    We haven't received our checks. The economy is terrible I fear it will get worse. We are retired, I'm in wheelchair full time and worry about money a lot.
    Shirley Burk
    Poulsbo WA

    May 22, 2008 at 6:16 pm |
  223. Holly

    My family does not qualify for a rebate check and we have 5 children to support. This rebate nonsense is just a redistribution of wealth.

    May 22, 2008 at 6:16 pm |
  224. Linda

    The economy is terrible and this rebate check is a joke! Now we all have to figure out how to pay the taxes on this check. Guess what I'm not spending it!!!!!

    May 22, 2008 at 6:16 pm |
  225. Marilyn

    Nope, especially when you open the mail and get only half of the $600 everyone's talking about. With gas prices being what they are, do they honestly think this pathetic act of desperation will help our economy?

    May 22, 2008 at 6:16 pm |
  226. Bill Patterson

    Certainly. You are referring to China's economy aren't you ?

    May 22, 2008 at 6:16 pm |
  227. Ken in NC

    When my check comes I will cash it quickly and hold the cash, just incase the check does not clear the bank. I know it sounds funny but I have had two (2) checks from the government to be returned when I deposited them into my checking account. This time I will cash it.

    May 22, 2008 at 6:16 pm |
  228. George Bush Jr.

    No

    May 22, 2008 at 6:16 pm |
  229. Peter DeSanto

    What a laugh. Its just a bone thrown to us by bush. Keep it, it won't even cover the increase in gas. How about a peice of that 60 billion the gas companies have pocketed. The White House has not finished with us yet. As a matter of fact they are grabbing all they can befor Bush leaves office. Just watch and see how bad its going to get befor the changing of the guard.

    May 22, 2008 at 6:16 pm |
  230. Geoff in San Diego

    No way. That check went straight into savings where I fully expect it to bleed away slowly as the cost of living continues to rise.

    May 22, 2008 at 6:16 pm |
  231. Stan Lanker

    The rebate checks do not make me feel confident at all! The economy is still bad!

    May 22, 2008 at 6:16 pm |
  232. Fex

    Sure. With the grand total of $10.38 I am wondering if I should spend this whopping amount on gas , food , vacation with my kids or maybe just go shopping to walmart to purchase that cool top i've been wanting to get !
    Fex

    May 22, 2008 at 6:16 pm |
  233. john traver

    Jack, the rebate checks says that the first step has been taken. However, we have not started on solving the energy problems, export/import unbalance, etc. We need Senator Obama, and 60 Democratic Senators elected this fall to be sure we start solving our problems. They just have been getting worse the last 7 years.

    JHT from Maplewood Minnesota

    May 22, 2008 at 6:16 pm |
  234. Paul Almeida

    I have more confidence that our gas prices will soar past $4, most likely hitting $5 or $6 this summer. Those "stimulus checks" are essentially a worthless short term aid for a suffering economy.

    May 22, 2008 at 6:16 pm |
  235. Julie Romero

    Hec no!, they're a lousy drop in the bucket for an over-taxed, overburdened populous who, if they had to write a check for taxes out of every paycheck, would be in the streets revolting!

    BTW, I love you Jack, would you accept a VP offer from Obama?

    May 22, 2008 at 6:17 pm |
  236. Carol

    These stimulus checks aren't going to do too much for the economy. Especially since gasoline is so high. People are going to spend them on increased gas prices and also increased food prices. There are so many of us out of work, it won't really do much to make the economy any better.
    Carol
    Westland, Michigan

    May 22, 2008 at 6:17 pm |
  237. Randy

    No, Jack, the rebate checks show how out of touch our leaders are with the economy. Until our leaders understand that you can't keep borrowing from the future to pay for the present, our economy will continue to suffer.

    I have worked hard and deprived my family of iPods, BMWs, and 6 foot HD TVs to carry zero debt, but I am incapable of fending of the debt our goverment keeps saddling us with. Where is Ross Perot, with those flip charts, when we need him?

    May 22, 2008 at 6:17 pm |
  238. David L. Hamilton

    NO! I got mine and will spend it mostly on bills. Thanks anyway George but this was just another of your stupid ideas. All you can do is spend Taxpayers money- and you cant do that right !!!

    May 22, 2008 at 6:17 pm |
  239. pj

    Jack, the only economy that the stimulous package is stimulating is the chinese. We borrow the money from China & than spend it on products made in China. It sure in the hell isn't helping America.

    May 22, 2008 at 6:17 pm |
  240. Big Joe, Buffalo, Ny

    Jack, my rebate check went straight back to the government; the government that proclaim is for the people. Uncle sam didn't even let me set eyes on rebate, my wife's and son's too.

    It went to repay uncle sam so for me my economy is as grim as ever.

    May 22, 2008 at 6:17 pm |
  241. jeff bajah

    hi jack,I recieved my rebate check on may 9th and spent it all in oneday paying my credit card debts.It made me feel bad about the economy just for the fact that I was getting freebie from the government.After just oneday of feel good,reality has dawned back to me.Am broke again and feel even worse.

    May 22, 2008 at 6:17 pm |
  242. Sharon Orlando, Florida

    Jack,

    My rebate check will barely cover my pawn shop ticket. I had to hock my rings to buy gas and other essentials that Bush's economy has inflated the cost of. I think that explains what I feel about this economy. Oh, by the way, the pawn shop was full of people just like me. That took the edge off of my embarrassment.

    May 22, 2008 at 6:18 pm |
  243. Sam-Knoxville, TN

    Jack, this 'rebate check', in my opinion, is (mocking the president's own words) is "nothing more than an appeasement".......fer thuh....war of lies (eye-rack)...and thinkin' thur wuz nukuler weapuns o'mass dstrucshin........
    Basically, this is the Bush Administration's way of apologizing for everything which has gone crazy and what has ultimately bankrupted approximately 20-25% of our own citizens over the last 4 (oops-SEVEN) years!

    May 22, 2008 at 6:19 pm |
  244. james d rosier

    I havent received my rebate, which i think its not going to help the economy. With the cost of gas @ 4gls, it would be wise to throw it in the tank.

    May 22, 2008 at 6:19 pm |
  245. Sean

    Less confident because the money that we will be receiving will only end up in the gas tank in order for me to go to work and pay them back what they will be giving us anyway. At this time there is nothing that this government can do for me to have confidence in it. Unless they start doing something about the fuel and food cost then I believe that they are making money this way that is why it has not changed.

    May 22, 2008 at 6:19 pm |
  246. Donald Gordon

    Nope, it doesn't help me at all, mine went to pay down a past student loan. Oh well, it was only $313 anyway. The whole stimulus thing, I hear, is just an advance on next year's taxes, you would just get that much less in next year's refund. I think that just means that the economy will collapse next year, instead of this year.

    Donald Gordon, Ontario, CA

    May 22, 2008 at 6:19 pm |
  247. Dan L.

    I am hoping to keep my 2100 rebate just for fue. It should fill up my tank about 10-15 times this year the way the republlicans are going !!! This rebate should be more than this and it should have been made so it can be spent on food and fuel to sustain life not large screen tv's and vacations etc etc.

    Ardsley PA

    May 22, 2008 at 6:19 pm |
  248. Nick

    Yeah Jack! Wooo!!!! Rebate checks are gonna fix it all! Is this what the White House and Congress was thinking when deciding on the stimulus package? These people lead our country and can only come up this? The economy sucks. It will take more than 1% of our econmy in rebate checks to fix our current economic situation. This is just pathetic.

    Nick

    May 22, 2008 at 6:20 pm |
  249. Monica

    Unfortunately, the "equal to our '07 tax liability" (less than $900) check, for this married couple who were expecting $1200, has not arrived though we're grateful it's coming. Grateful or not, however, it doesn't in the least send a message of security or economic stimulation. We will still lose our home this year and we are still filing bankruptcy. It can't begin to scrape the crust off of the financial dirtpie we baked, and there's no proof whatsoever that it will do a thing for the economy. Feels more like a bribe.

    Monica
    Ft. Hood, TX

    May 22, 2008 at 6:20 pm |
  250. robert

    Non at all. They should be working on how to lower the gas prices. That one issue its killing us.

    May 22, 2008 at 6:20 pm |
  251. Michael

    Jack,

    It's ridiculous to think that $600 is going to put someone in the position where they can go out and spend it in a manner that is going to boost the economy. My wife and I have received our rebate of $1,397 and it has gone to paying for gas to commute to school, and work, and to paying for groceries and increasing energy costs for our home. We were not even able to spend one cent on going out to dinner or splurging for a luxury item.

    May 22, 2008 at 6:20 pm |
  252. Ellen

    The rebate checks are not enough to help the economy; I will be using it to pay down debt.

    May 22, 2008 at 6:20 pm |
  253. James King

    What a fundementally flawed concept...borrow from China, give it to Americans, Americans spend it at Wal-Mart who gives it back to China.
    Who economy are we trying to stimulate?

    May 22, 2008 at 6:21 pm |
  254. Brenda Stewart

    I received my rebate check during the first batch of mail outs. It cost me more stress than I had before I received it because I had to decide between spending it on gas, eating or making a small partial mortgage payment. For Bush to think that a dime of that money would be spent on a big screen tv, a snazzy new outfit or a trip to Disney Land is just as foolish as believing that Hillary has a snow balls chance in hell of winning the democratic nomination.

    May 22, 2008 at 6:21 pm |
  255. John McBeth- Staten Island, NY

    The veryt presence of a stimulus check signifies the state of the economy...dreadful.

    May 22, 2008 at 6:21 pm |
  256. Will San Jose, CA

    When you are in a hole I guess sometimes you need to just keep digging. On the plus side we'll eventually end up in China, which is convenient as that's where all our money will be.

    May 22, 2008 at 6:21 pm |
  257. Johnny, Chicago

    The answer is no. If bush didn't waste $341.4 million per day in iraq we wouldn't need a rebate check. Also look at the price of everything. Our grand children will be paying for this. No more republicans.

    May 22, 2008 at 6:21 pm |
  258. John

    Hey Jack. Love the Cafferty File. As part of the backbone of the US workforce, the working poor, I think these checks are a drop in the barrel to fixing the economy. Especially when that barrel costs $135. I hope Bush's oil buddies are sleeping tight on their mattresses of money.

    May 22, 2008 at 6:24 pm |
  259. James King

    So here's what going on: the U.S. borrows money from China, the U.S. gives the money to Americans, the Americans give the money to Wal-Mart, Wal-Mart gives the money back to China...I forget, whose economy are we helping?

    May 22, 2008 at 6:25 pm |
  260. James V.

    Hey Jack, do I have confidence in the economy because of these " rebate checks" ?

    You have got to be joking. Of course not. A falling Dollar, the rising COST of a gallon of gas and a President with NO clue about the ills of illegal immigration DON'T exactly evoke confidence! Unless of course you are wearing the same Rose colored glasses as our President is wearing.

    James V /Robbinsville NJ

    May 22, 2008 at 6:25 pm |
  261. William

    Jack,

    I have not received my rebate check. In fact I am owed 300 dollars, but my check will not come according to the IRS. It was due to be in my mailbox by May 16th. After being on hold with the IRS for 2 hours and 43 minutes today ( May 22 ) I was told I have be mixed up with someone that did not qualify for the check, and my only option in hopes to receive one is to appeal the decision. This appeal does not guarantee anything and will take 90 days. I really don't see how the IRS can mistake my social security number with someone else's. The United States congress fails hard working Americans yet again.

    May 22, 2008 at 6:25 pm |
  262. Josh

    Jack, im a young college student that has to work two jobs just to get by and manage to keep up with my school work. My parents are unable to help with my college expenses so I must rely on loans, credit cards and small amount of financial aid. I was one of the millions of Americans expecting to get a check this May and was shattered to find out that most college students are inelligable for the tax rebate checks. I was looking foward to that money to help pay for college and living expenses. I believe the economy is only going to get worse and if real change does not occur then we could see the beginnings of another depression with mass riots, protests and the looting of food and gas.

    May 22, 2008 at 6:25 pm |
  263. Carlos Fraser

    Jack,

    I have been doing taxes for 10 years. And I have seen this rebate thing in 2001-2002 after 9-11. It was $400 per child.

    If this is the same Bush plan, the amount one get's will be taxable. And can reduce the taxpayer refund for next year. Some states will not tax the income like NJ. But some states are thinking about it.

    So, all in all the USA taxpayer is getting prepaid money in 2008 but will have to included it in income come the 2008 filing season in 2009.

    What if they have a tax due becasue the took money out the 401(k) to live for 2008? Or the decreased the witholdings of their W2 to get more money in the pay check to keep up with Inflation. Will the owe the rebate check amount and the original amount due? My clients are scared to spend but have to spend it.

    May 22, 2008 at 6:25 pm |
  264. Katie, Leesburg GA

    The only way these checks will actually help is if people keep that money in America. Check out your local small businesses – avoid big retailers. This should be done all the time anyway.

    May 22, 2008 at 6:26 pm |
  265. LC Knoxville, TN

    The checks do not improve my confidence in the U.S. economy. However, It does make me more impressed with the Chinese economy, where the money originated. How ironic is it that CNN shows pictures of U.S. aid being unloaded in China? That is like borrowing money from your mother for her birthday present.

    If our "leaders" would get a clue and do things to strengthen the dollar, (like reduce our debt) we could all have more confidence in our economy.

    May 22, 2008 at 6:27 pm |
  266. Maneesh

    I am from Arizona and I have received the tax stimulus check. I'm on a limited income and am the type of person who saves more money especially during troubled financial times. When the economy is better I will start spending more money again but till then people like me even after receiving the stimulus check will just keep that money saved in the bank for a rainy day. People who need that money will save it for a rainy day fund - some might spend it buying things but most will either save it or donate it to a non profit organization.

    I felt I didn"t need the entire amount of the stimulus check (the full $600) I didn't need to save and Peace Action (www.peace-action.org) was sending out emails to people on its mailing list myself included suggesting for those who don't need the entire stimulus package or any of it should donate it to them. It was a special donation and I opted to make it tax deductible.

    They had a special page for people making donations from the stimulus check - well there were 2 pages for these people (myself included) to donate a portion of their stimulus check to Peace Action - 1 was for making a non tax deductible donation and the other for making a tax deductible donation.

    They also have a regular donation page for people wanting to make a one time or monthly donation to them (a regular one that doesn't mention the economic stimulus check) for the stimulus check donors they said that if you don't need the money consider donating it to Peace Action. Even their regular donation page has the following statement "Whenever people are silent and complacent peace will always lose to war. War's salesmen are loud and tireless and they always have a seat at power's table. To flourish, war demands nothing from a citizen. It is peace that demands action!"

    I donated about $150 to Peace Action from my economic stimulus check and later made a non economic stimulus check related donation of $50.00.

    The Bush Administration has spent billions of dollars on the war in Iraq while for the most part neglecting domestic issues at home. Putting more money into the U.S. economy at home and into groups like Peace Action which advocate for a responsible end to the Iraq war, and for the U.S. to spend more money on fixing economic problems at home rather than sending it to Iraq - thus I have put a big sum of money from my economic stimulus check into Peace Action. I think it was worth it and if I could travel back in time to when I made that donation I would do it again.

    I also made a regular donation of $50.00 to Peace Action as mentioned - I do believe the economy though is in recession and am now since making those two donations saving more of my money as economic conditions worsen. I will continue to save more money till the economy gets better. Only then will I spend more money.

    May 22, 2008 at 6:27 pm |
  267. Dave H.

    Financially, I'm hanging by the skin of my teeth. SIx of my friends have lost their houses in the past yeaqr, and not because of the mortgage scam, salaries aren't keeping up with the outrageous inflation at the pumps, grocery stores and utility companies. The U.S. tax rebate coming from China to help America and its people is like treating a shotgun wound with a Band-Aid.

    May 22, 2008 at 6:27 pm |
  268. Mr. Russell, LA.

    Hey Jack

    No.! Now are there any plans on the table for change? I ask this because the longer we wait the longer the turn around time. Yes We Can

    P.S.
    We love You Sen. Kennedy

    May 22, 2008 at 6:27 pm |
  269. Ron in CA

    More confident? Jack, If Bush thinks this stupid, one-time little rebate is going to stir something, it is...it should just about pay enough for the gas it will take me to drive to the polls and vote Demoratic.

    May 22, 2008 at 6:27 pm |
  270. Ken / Pa

    NO!!!!!! My confidence is shaking more each day , it won't stop till someone can show me a real plan that will help bring normality back. Is there any one who can really help this economy ?

    May 22, 2008 at 6:27 pm |
  271. Brandon, Texas

    Pfff!!! Whatever! It's like watching a Michael Bay film. It's an insult to my intelligence really. For all the money the current administration poured into an illegal war I think I'd feel dirty having anything to do with this money as petty as it is. And just what is $600 really supposed to buy me? Healthcare? Education? A hybrid? A new highway for my hybrid? A tank of gas? I think I'll be sending mine right back.

    May 22, 2008 at 6:28 pm |
  272. Lynn Williams

    600 days late and $600 short. Added to the home foreclosure fiasco as it winds its way through the economy and the now daily soaring gas prices = both of which could have been avoided if the Republican administration = Bush and Congress = had not favored deregulation and big oil – these attempts to buy back the people and the economy are not helpful. Thoughtful energy planning and regulating loans would have been far better . Athens, Georgia

    May 22, 2008 at 6:28 pm |
  273. tt

    These checks are a joke. The government think the American people are stupid this is just another way they can get more taxes from us. If they think this will boost the economy they have another thing coming. If they want to help with the economic situation we should get a cost of living raise to keep up with the increases across the board, but that's too much like right

    May 22, 2008 at 6:28 pm |
  274. Clyde in Detroit

    In how many ways can one say NO? We have received our rebate check and it was consumed so fast I am still in the hole finacialy, it did absolutly nothing for me. It did not do anything at the pump and I drive a toyota, 4 cyclinder. It did not do anything for my ARM mortage forclosure situation or as a person in poor health and on disability with end stage renal kidney failure (ESRKF). Bush and Macain just don"t get it and don't care.

    May 22, 2008 at 6:28 pm |
  275. Geneva Hill

    When I get my rebate check I will go to the gas station and fill up, wonder how much will be left?

    May 22, 2008 at 6:29 pm |
  276. Willie Tash

    Thinking a $600 rebate check is going to solve the economic challenges that this nation faces is like think that giving everyone in New Orleans a sand bag would have prevented the Katrina disaster. This just another feeble attempt of an administration with no solution to distract us from their abysmal record.

    PS What happen when China say no to us the way the Saudi’s did on increasing oil production?

    May 22, 2008 at 6:29 pm |
  277. Solomon T. L

    Jack we should have known better before we voted for this guy. Didn't he lose mony on most of his investments, OIL, BASEBALL TEAM etc, etc ?. Didn't we know that? Shame on us. If he doesn't know how to handle his own mondy how on earth should we trust him to handle our money? Congress is also responsible for the pathetic economic condition the country finds itself in. The people voted for him because he swore he had a direct communication with GOD, Because he said He changed his life. This must me the joke of the CENTURY

    May 22, 2008 at 6:30 pm |
  278. Billy Jo

    jack, no confidence here, because I see too many companies here shutting down in Elkhart, Indiana once the RV Capital of the World. I see so many homes emptied, because of loss of jobs. Hey, where is my Stimulus Rebate Check? Since I have to pay taxes on the Rebate, don't send it, cancel it, like they are to jobs!!!!

    Billy Jo
    Elkhart, Indiana

    May 22, 2008 at 6:31 pm |
  279. Maggie Oklahoma

    No, I don't need the money but will give it to my two granddaughters who are college students. They need gas and hamburger money.

    When Bush was first elected his administration officials met with the oil company tycoons and now we are paying the price. Wonder how many million Bush and Cheney have made from oil and Iraq War?

    May 22, 2008 at 6:31 pm |
  280. Ron Huff

    Not only no, but hell no, and to make matters even worse we only got
    600.00 for the both of us. My wife still works full time & I'm on disability
    and can't work as I once did. She & I both paid income taxes on what she made & my disability income, so where's the 1200.00 dollars so
    we can do my part to stimulate this countries economy.
    Ron Huff

    May 22, 2008 at 6:31 pm |
  281. Alexander

    Rebate check; i live in chicago regular gasoline have been four dollars since a week and a half now. Thats 10% of the rebate tax a week. How long will the check last. I love your common sense Jack.

    May 22, 2008 at 6:32 pm |
  282. Kathy

    Absolutely not! We were opposed to the checks in the first place. but will we spend it? You bet we will. Not in the USA but in the Republic of Panama, where we live because we can't afford to retire in the USA.

    May 22, 2008 at 6:32 pm |
  283. Mari, Brooklyn, NY

    A big "no"! Working on the periphery of government for ten years, I still find myself surprised, in a bad way, the way government, esp this administration, seems to think us all simpletons, apparently living day to day with little capacity to comprehend the big picture. What to do with the money? Pay bills, what else? This isnt even a bandaid. Not a solution but a distraction. Bush has given us all a lolipop and a pat on the head.

    May 22, 2008 at 6:33 pm |
  284. Jo Ann

    NO NO NO
    It will just have to be paid back on next years taxes!

    Hillary for President. Obama doesn't stand a chance!

    May 22, 2008 at 6:34 pm |
  285. Mark in Spokane

    Our check helped with us paying down some debt, but my wife and I only received $600, not $1200. Not sure what else I needed to do to qualify for the $1200 considering we live off of my $30,000/year salary. Thanks George for this great start to my life out of college.

    May 22, 2008 at 6:34 pm |
  286. Keith Arnott

    Jack,

    I can't envisage any sane person believing that receiving a $600 rebate will do anything to change the fundamentals of the economy.

    Record oil prices, unprecedented mortgage foreclosure levels and the weak US dollar are unfortunately not going to abate because joe citizen gets a one off windfall which will most likely end up being spent on cheap asian imported consumer goods anway.

    Keith Arnott

    Bangkok, Thailand

    May 22, 2008 at 6:36 pm |
  287. Douglas in Minesota

    Jack - your question assumes that we already have confidence in our economy. You might want to reconsider your hypothesis.

    May 22, 2008 at 6:36 pm |
  288. Pete Pratt

    The main problem with the US and Global Economy is a shortage of Cheap Energy. I'm spending my $1,200 and more on Canned Food and a few Cases of Ammo to protect my family, food and property from the desperate masses that will form when the World's Economy eventually tanks.

    Greene County, PA

    May 22, 2008 at 6:37 pm |
  289. freda

    Dear Jack,

    The reason the economy won't see any relief from the rebate checks is because a lot of individuals owe either the IRS or money for student loans. If any individuals fit in that category, then the government will receive the boost from the emergency stimulus checks and not the individuals that really need them. Therefore, the economy will stay the way it is bad until we get Obama for President!

    May 22, 2008 at 6:37 pm |
  290. Ken in CA

    I cannot thank the president enough for the $600 – my wife and I now have gas money for the next 30 days. Oh . . . I get it now. . . . that was the plan all along. Looks like Texas and OPEC win again. Nice trick, George. Or does Dick get credit for this one?

    -Ken

    May 22, 2008 at 6:37 pm |
  291. Toan Truong

    Hello Jack:

    The answer to your question is NO!. What the government’s rebate checks do is to band-aid the current economy. What we need from the government are to devise a good plan to improve the economy, health care, and focus more on domestic issues.

    Again what $600 rebate check can do with current cost of living?
    Four days STAYCATION?

    By the way, I love your show!

    TT – Maryland

    May 22, 2008 at 6:38 pm |
  292. Mike out West

    Yeah, about as much confidence as I have in using a thimble to hold back a rising tide.

    May 22, 2008 at 6:40 pm |
  293. Paul

    If you ask me, the rebate checks amount to an admission by our government that they are misusing our tax dollars. Ironically, the rebate checks will only scratch the surface of the proverbial glass ceiling of national debt that will inevitably come crashing burying future generations in financial insecurity and decreasing our national security as the ownership of this country is sold off to foreign investors.

    May 22, 2008 at 6:41 pm |
  294. terry thomas

    Thanks George for the check...I will use it this month for gas. Can you send me another and maybe then I will fill my fridge next month. Its all way to little and way to late, buckle up, its going to get real ugly, maybe like 79 yrs ago or worse.

    May 22, 2008 at 6:41 pm |
  295. Kelly, Georgia

    I wonder if the government will issue another economic stimulus payment. Because of the increase of fuel and gas. Some of us who already receive a check is no better off now then we were before, if anyting is has got worst. Food still increasing and fuel still rising. For the rest wait until you get your rebate check it will be gone before the blink of an eye.

    May 22, 2008 at 6:41 pm |
  296. Susan

    No, the rebate check has done nothing for me unless you count the 100 or so gallons of dyed kerosene I'll be buying to keep me warm next winter. Oh wait, this will be an economic stimulus for the gouging oil companies! Silly me, I thought I could actually buy something for me with the rebate.

    Susan in chilly NorCal

    May 22, 2008 at 6:41 pm |
  297. Ginny

    One would have to be bbrain-dead to think (pun intended) that this is a good idea. It is utterly foolish to borrow that kind of money , disburse it in such paltry amounts, and expect great effects. Leave it to tthe "DUB"!!!!!!

    May 22, 2008 at 6:41 pm |
  298. Kurt,Michigan

    I'll buy lottery tickets. After all the goverment is spending money they don't have. I say keep the money they don't have and lets start paying down our childrens debt. Oh by the way if I did buy lottery tickets I would pay my bills. If I don't at least our children will get the money through the support of the lottery ticket purchase and of course minus the tax that would be deducted so the goverement could continue to operate the way it always does. Through waste.

    May 22, 2008 at 6:42 pm |
  299. Robin, North Carolina

    Absolutely NOT. In the years I can remember out of my 21 on earth, I've noticed that the only time the government gives out extra money is when the economy is on it's way down. Rebate checks make me think they're trying to butter me up to spend money–I'm a college kid, and I have to commute a good thirty miles or so to even get to my school. I work at Wal-Mart and I live at home–I can't AFFORD to spend it on anything, I have to save it for gas and upkeep on my car so that it doesn't use so much. Maybe if our President would release part of the strategic reserves, the price of oil would come down till people like me could afford to spend our checks.

    May 22, 2008 at 6:43 pm |
  300. New Jersey Guy..

    The economy is faltering because of the Sub-prime mess and high commodity prices... Bush really had less to do with those problems than the Democrat controlled Congress did.. Lets put the blame where it belongs. The dollar weakens further, and traders buy commodities for their relative strength... pushing prices higher.

    May 22, 2008 at 6:46 pm |
  301. Paul

    Rebate Checks = Were sorry we havn't managed your tax dollars wisely. Given I am returning $600 if it, I can vote myself another raise in the Senate when the time comes, right?

    May 22, 2008 at 6:48 pm |
  302. walter

    Those rebate checks are akin to putting on knee pads while about to crash at 600 mph in a jumbo jet (what good would it do?). The economy is bad and my protection is a new Japanese tv....The rebate that we need is our White House back...We need change!

    May 22, 2008 at 6:49 pm |
  303. B. J.

    Jack it would have helped if the Bush Administration had been honest when they mentioned that the people were getting a rebate check of $600. per person and $300. per child. However, my husband and I got back $600. period, and my son with a wife and 3 children got back $700. . We also have some friends that got back $1200. with 1 child and their income is a lot more than all of ours.
    Where is the logic ? I am sick to death of the current government and their lies...that is why I have switched parties...

    B. J.
    North Carolina

    May 22, 2008 at 6:49 pm |
  304. Skip

    Jack, if the Goverment thinks that 300-600 , 1200 dollar checks are going to help they don't know how bad it really is. Besides most of the ones who said it is't bad Got MONEY any way. The Goverment should have sent out 3000-6000 dollar checks, so people could PAY SOME BILLS and then think about spending, Like you said they going to borrow it from China any way!

    May 22, 2008 at 6:49 pm |