The Tonawanda News
April 23, 2008 01:48 am
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As you probably saw after reading the story on how locals plan to spend their economic stimulus funds; the money may not be
particurlarly stimulating after all.
Some plan to spend it the way President Bush and Congress would like — on recreation, entertainment and other special frills — but most are stashing it away or paying bills. In one case, parents plan to pay for a child’s hockey league. Not exactly stimulating to the local businessman.
It’s to be expected, though. Our economy is in shambles, the housing crisis is for real, although not as bad in Western New York, and we don’t have to tell you about gas prices. It’s no wonder people are looking to pay down credit with what could amount to $600 per taxpaying citizen.
Because everyday commodities are so darn expensive, we figure people have probably been charging more than they normally would. That means debt, which can be paid down with Bush’s stimulus package. Considering the interest rates most credit card companies are charging, it’s probably a smart move.
While we’d like to encourage readers to go out and spend that $600 somewhere around town, we have to be realistic. Spending wisely is probably the way to go. If that means spending on debt,
groceries or something that you would have had to pay for anyway like tuition or a kid’s hockey league then that’s fine too. Heck, if you have to use it for your always-growing tax bill, it may not be a 42-inch flat screen, but at least it will keep you in the county.
Whatever you do, make a smart choice when that check hits your mailbox.
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