$$$$$$$$$$$$$$$$ SIX HUNDRED DOLLARS $$$$$$$$$$$$$$$$

Bush says rebates going out Monday will boost economy

WASHINGTON - President Bush said tax rebates will start going out Monday, earlier than previously announced, and should help Americans cope with rising gasoline and food prices, as well as aid a slumping economy.

Democrats said they were glad the rebate checks were about to go out, but suggested that multinational oil companies were not among the businesses the stimulus package was originally designed to help.

"Starting Monday, the effects of the stimulus will begin to reach millions of households across our country," Bush said Friday in remarks on the South Lawn of the White House.

Those first rebates will be directly deposited into people's bank accounts. The Internal Revenue Service had been saying direct deposits wouldn't start until next Friday. Bush said paper checks would begin going out on May 9, a week earlier than previously announced.

"The money is going to help Americans offset the high prices we're seeing at the gas pump, the grocery store, and also give our economy a boost to help us pull out of this economic slowdown," Bush said.

Bush's emphasis on fuel and food prices differed from other comments he's made since signing the economic stimulus legislation, intended to aid the economy by boosting overall consumer spending — which accounts for roughly two-thirds of the nation's economic activity.

Bush has suggested the rebates could trigger a spending spree. "When the money reaches the American people, we expect they will use it to boost consumer spending," he said last month.

By saying expressly that people could use these one-time checks to pay for such necessities as food and gas, Bush underscored the deepening challenges facing the economy.

Democrats were quick to pick up on the change of focus.

"It's galling to think that taxpayers' stimulus checks will be lining the pockets of OPEC. The sad truth is that the average American family will spend almost their entire stimulus check on higher gas prices this year," said Sen. Charles Schumer, D-N.Y., chairman of the Joint Economic Committee of Congress.

OPEC is the Organization of Petroleum Exporting Countries.

"Unless the administration gets OPEC to increase oil supply, American consumers are going to be in for a scorching summer of $4 gasoline with no relief in sight," Schumer said.

House Speaker Nancy Pelosi, D-Calif., agreed that people "need this rebate to cope with the rising cost of gas and groceries." She said that, while the rebates would help to get the economy moving, there was a need for a second stimulus package "and we have begun some conversation with the administration and Republicans."

As he had earlier in the week, Bush used the word "slowdown" to describe the state of the economy. He has denied that the nation is in a recession, although many economists say it is.

"It's obvious our economy is in a slowdown. But, fortunately, we recognized the signs early and took action," Bush said.

The rebates — up to $600 for an individual, $1,200 for a couple and an additional $300 for each dependent child — are the centerpiece of the government's $168 billion stimulus package, enacted in February. Roughly 130 million households are expected to get them.

Bush made the comments before boarding his helicopter at the start of a day trip to Connecticut.

People must file a tax return for their 2007 income to be eligible for a rebate check.

The IRS now says all checks for those who filed tax returns on time are scheduled to be deposited or mailed by July 11.

The economy — burdened by the collapse of home prices, a financial and credit crisis, and now rising energy and food prices — grew at an anemic 0.6 percent in the final three months of last year and is believed to have gotten even weaker in the first three months of this year.

The government will report on the first quarter's performance next week.

With the economy faltering, the nation's unemployment rate has climbed to 5.1 percent, the highest since September 2005, when it suffered from the devastating blows of the Gulf Coast hurricanes. Job losses in the first three months of this year neared the quarter-million mark.

Foreclosures have surged to record highs and financial companies have taken multibillion losses on mortgage investments that soured. The situation has sent a tremor through Wall Street and has sent the administration, Congress and presidential contenders looking for ways to provide relief.

schumer you moron

paying for gas lines the pockets of companies that sell gas, not fucking opec nations, oh wait, opec = terrorists, gas companies = fortune 20

http://www.big-money-marketing.net/images/chris-cash-cars.jpg

lol spammers

"When the money reaches the American people, we expect they will use it to boost consumer spending"

whoa how did he know i was planning to use my $600 to boost consumer spending? mindreader

i am going to bury my $600 in the woods and wait for it to decrease even further in value.

My $300 will almost replace what I actually paid in taxes lol.

god I hope I don't get audited

it will go towards my massive credit card bill from getting my car fixed or possible future dental work

^^^bingo

does anyone know how the delivery dates of the rebate checks are determined w/r/t when i'm gonna get my $$$$$$$$$~~6large~~$$$$$$$$$$$

100 is large to me btw : D

Check this: http://www.irs.gov/irs/article/0,,id=180250,00.html

When you get it depends on the last 2 digits of your ssn and whether you go went for direct deposit on your last refund.

ayo may 9, hurry the fuk up

yeah !! in time for my birthday

so whats this "up to" six hundred dollars??? how little do you have to make to qualify for the maximum?

There's a calculator link on that schedule page, gr8080.

Yeah, I'm wondering that too. I'm hoping for 600 and I'm probably going to get 60 or something.

How much does XBOX 360+GTAIV cost? That's all I want, I swear. My rebate check is going to line the corporate videogame fatcats.

My rebate check is going into my savings account, where it belongs.

According to that calculator, I'm getting $300. Thanks U.S. government. Now I have to get the 20GB hard drive instead of the 80GB. I thought you were cool, Uncle Sam.

Fuck a July 11th.

lol sense of entitlement

TRY GETTING A JOB KIDDOES

I HAVE A JOB BUT IT COSTS ME $10 IN GAS EVERY TIME I HAVE TO GET THERE

ALSO I WANT RECORDS AND VACATIONS AND NEW CLOTHES

ya rly telecommuting plz

I'm so glad I don't ride the subway at rush hour, I don't even want to know what it looks like now that it costs $70 to fill up

My tongue has been planted firmly in cheek for the past 20 minutes, but I don't know the proper emoticon. Thanks for that, Uncle Sam.

no way i'd kill myself so fast if i worked from home.

who are you gonna hand out cookies too over the phone HOOS?

hanging up on racists not as fun as kicking them out. :(

xxp

No you were serious and you deserve belittlement

http://farm1.static.flickr.com/126/318542190_479a442275.jpg

lol suckers:

http://farm1.static.flickr.com/194/527389010_f171dcd437_o.jpg

</braggin>

52 through 63 June 20

WHAT THE SHIT i'ma be suckin down instant coffee while yall fuckin around with ya 20gb hard drives

Nah, I'll be drinking Nestea too, I don't get mine until a week before you.

I mean NESCAFE. Nestea if for people with 80gb hard drives.

Tom, how will you have a missed connection without riding the subway at rush hour?

According to that calculator, I'm getting $300. Thanks U.S. government. Now I have to get the 20GB hard drive instead of the 80GB. I thought you were cool, Uncle Sam.

-- Z S, Saturday, 26 April 2008 00:06 (1 hour ago) Link

wtf kind of 80gb coffee-making weather detecting hard drive are you buying that costs $600??

ebay, dude. ebay.

what

<i>a half ounce and a very cheap escort</i>

If the commentators on the Eliot Spitzer case are correct, what would cost at least $1000 in NYC can be had in DC for $200 or $250.

I might make an Ikea run. But gosh I'm so enthusiastic about the idea.

I'm so enthusiastic about the idea.

The gov just put it on your tab.

wtf kind of 80gb coffee-making weather detecting hard drive are you buying that costs $600??

Maybe SSD?

hit newegg.com, dude, where you get the best stuff. i just got me a little card thing lets my pda-phoney-whatsit get on the innernet n' not cost me nuthin'

GOT MINE

probably going to spend it on a plane ticket next week, sadly not one to tokyo

DAER GOVERNMENT,

WHERE MY MONEY BITCH?

check your ss# date?

i think mine's coming on the 9th.

9th at the latest, but I hoped it would arrive early.

and the longer it takes, the more paranoid I get that they're looking over my returns

shit doesn't even get sent for another month

hi where is mine