Stimulus Checks Lead to Income and Consumer Spending Gains
June 27th, 2008
Some $50 billion worth of U.S. Treasury economic stimulus checks mailed to taxpayers in April and May led to an after-tax income gain of 5.4% and an inflation-adjusted consumer spending gain of 0.4% last month. “‘You pump out $50 billion in a couple months time, and there ought to be some noticeable impact,’ said Joshua [...]