hello, washington, look at your past! this has been tried before and people do not spend the money, either they pay-off credit cards(theyve already spent the money), or they save the money. rebates dont do s*** to "stimulate" the economy
actually, if you're correct, and 120 million people suddenly
1) pay $300-600 on their credit cards
2) save/invest the money,
The economy will get quite a boost. The credit card companies will have more money and will pay out higher dividends and have more money to loan. Investing the $ is great too, keep the DOW alive. And for those who spend it at walmart, or at a local mom/pop business, that's even better.
No matter how they spend it, our economy will be stimulated. Should be slow down the war spending, foreign aid, and end tax breaks to already loaded oil companies? Of course. Will we? No, as that would piss off Bush's puppeteers. So, this is just another cork in the dam that will do a little help with a lot of long term strain.