59% of Americans Pessimistic About Stimulus Package

[Apr 23, 2008.]

 

A new survey issued by the Experian Group states that 59% of American do not think that the $152 billion economic stimulus package recently issued by the federal government will help the American economy in any long-term way. Conversely, only 32% of Americans think that the package will get people to make bigger investments. Furthermore, only 15% of Americans indicated that the government package would be an incentive for them to spend more.

The poll asked questions about what respondents would do with the rebate check they are due to receive as part of the federal government's economic stimulus package. It also asked the respondents whether they thought they would receive a refund on their 2007 federal income tax returns. 34% of those who took the poll said they thought they would, even though they had not yet actually filed their tax returns.

Fully one quarter of the consumers who answered the survey said that they would use the money from their income tax refund to pay, or help pay, an outstanding debt. That is an unusually large amount, according to analysts. The experts at the Experian Group say that the 25% figure shows how Americans have been affected by the recent economic crisis. The crisis has forced Americans to think differently about money, say the experts.

In contrast to that 25%, only 15% of the survey participants stated that they would invest the money from the federal income tax refund. 6% planned simply to use the extra money to travel. 9% wish to use the money to fix up their house.

How was the survey conducted? During a single week in March, between March 6 and March 12 of 2008, 1,000 American citizens older than 18 were chosen arbitrarily from all over the United States. Although 1,000 people doesn't sound like a lot, the sampling error for the survey is only three percent.