What are you doing with your Economic Stimulus tax rebate?

Some of you may have received your tax rebate and are making plans to go on a shopping spree. Some of you may even feel unpatriotic or unAmerican if you do not spend it away. After all, President George W. Bush intended this to be used by the general consumers to stimulate the economy.

Now, we don't claim to be economic gurus, but isn't our personal family economy equally as important if not more. Our country has been gradually dwindling into recession for the past 8 years under the Bush administration. From the perspective of the federal debt, we are truly in worse shape in terms of the ratio of debt over GDP between 2001 until now, as compared to the Clinton years between 1993-2001.

Link to Wikipedia source on National debt by U.S. presidential terms

In addition, the subprime mortgage mess has rattled the foundation of many households in America due to the widespread effects of unchecked and unethical lending practices. The number of foreclosures is at an alarming rate across the United States. On top of that, we have a weak U.S. Dollar in the global currency market. We have rising gas prices at the pump, and rising food prices at the grocery store. How much more does the American public have to battle on the home front? Is it realistic to expect the average American family to spend their Economic Stimulus tax rebate on discretionary purchases? We didn't think so.

We believe it is perfectly patriotic and perfectly American, in true spirit of red, white and blue, to spend our tax rebate on our mortgage, on our utility bills, on food and on absolute necessities.

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