Tax Rebate Was a Flop
Posted in Democratic Party, Income Taxes, Senate, U.S. Government, congress on Aug 15th, 2008 3 Comments »
With most of the rebate checks cashed, it is obvious the plan failed, he said. Consumer confidence in the economy was not boosted by this fiscal bailout idea.
Instead, the rebate plan backfired. It only added about $20 billion to consumer spending, while about $80 billion was added to the national debt.

