From a selfish standpoint, most Americans would love to see our federal government hand out a second economic stimulus check this year. But it just doesn't make economic sense.
Talk of a second stimulus check heated up Friday with the delivery of a triple whammy of economic news - unemployment made its largest monthly jump in 22 years in May; the price of a barrel of oil reached a record $139; and the Dow Jones plummeted in response by more than 400 points.
Before heading to Europe, President Bush on Monday reiterated his understanding that Americans are suffering financially. While he hasn't said a second economic stimulus check would be forthcoming, talk of one has been growing.
It's still hard to tell what impact the first stimulus checks will have on the slumping economy. The president insists positive impacts will begin to show soon. But most polls suggest consumers were going to use the checks to save and pay down debts rather than pump the money into the economy.
The end result of the first check, and likely a second, could be to further drive up the national debt without making a dent in the country's economic woes. While getting the checks may make people happier temporarily, the long-term benefit is negligible.
Talk of a second stimulus check heated up Friday with the delivery of a triple whammy of economic news - unemployment made its largest monthly jump in 22 years in May; the price of a barrel of oil reached a record $139; and the Dow Jones plummeted in response by more than 400 points.
Before heading to Europe, President Bush on Monday reiterated his understanding that Americans are suffering financially. While he hasn't said a second economic stimulus check would be forthcoming, talk of one has been growing.
It's still hard to tell what impact the first stimulus checks will have on the slumping economy. The president insists positive impacts will begin to show soon. But most polls suggest consumers were going to use the checks to save and pay down debts rather than pump the money into the economy.
The end result of the first check, and likely a second, could be to further drive up the national debt without making a dent in the country's economic woes. While getting the checks may make people happier temporarily, the long-term benefit is negligible.
