The Grim Reality of Those Tax Rebate Checks

When President Bush approved the economic stimulus check it was hailed as the shot in the arm the economy needed. Unfortunately, the economy is proving to be worse off then first suspected and those stimulus check may prove to be a short term fix rather than the needed jump start.

Now this is not new to nay-sayers who are just being proved right by the continued credit crunch and the increase in gas prices. Experts now expect that nearly half of those stimulus checks will be used at the pump and for necessities like food instead of consumer goods like electronics, apparel, and other items. [Read more]

Fed Pessimistic For This Year

The Federal Reserve bank announced today, Wednesday, that the economic situation in America isn’t necessarily going to get better soon. Nonetheless, despite the bad news, the bank says that it is hesitant to lower interest rates any more than it already has. [Read more]