Gas bills ate your rebate

[No DUplicitous DUpe]

Source: CNNMoney.com

Gas bills ate your rebate
Rising pump prices mean a big chunk of your check could end up stimulating an economy far from America's.

NEW YORK (CNNMoney.com) -- When President Bush announced that the government would begin distributing economic stimulus checks on Monday, he did so in the shadow of ever-rising gas prices.

The point is to boost the flagging U.S. economy. But record gasoline prices mean that up to a third of stimulus payments could be spent buying gasoline, most of which is imported from abroad.

"The rebate goes into the tank, and then finds its way into economies far from our own," said Jared Bernstein, a senior economist at the Economic Policy Institute, a liberal think tank.


Read more: http://money.cnn.com/2008/04/25/news/economy/gas_rebate/?postversion=2008042511

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Gas prices go up (for us) as the dollar goes down in value...Could there be a connection?

[NJmaverick]

1. I doubt this was an accident- I am sure this was what Bush

planned for all along

[Magleetis]

12. It seems that way

Put all the money and power in the hands of a few.

[Phred42]

20. Agree. This was a premeditated plan to funnel more $$ to teh Oil Compainies

[no_hypocrisy]

2. So that means we're borrowing money from China to give to Saudi Arabia which

our grandchildren will have to repay with megainterest. How stimulating!

[No DUplicitous DUpe]

3. Nice summation! nt

[lutefisk]

4. It doesn't all go to Saudi Arabia

The oil companies get some, the traders and speculators get some, etc.

[yardwork]

11. Dick Cheney and the Bush Crime Family get their share.

[texastoast]

18. That's what I was told

When I got my taxes done, the accountant said we would get a rebate. "Actually, your kids are giving you a rebate. You are borrowing the money from your kids."

How much more will America put up with?

[chill_wind]

5. Much too little, too late. KR #5 n/t

[canoeist52]

6. The rebate is just to stave off the expected protest over $4.00

gas this summer. This may hold off major riots 'til the next president takes office.

[Ichingcarpenter]

7. News it is $4.00 now

In many parts of the country, it will hit $4.00 for the rest of the nation
way before summer starts.

[Amonester]

8. $peculators and Big O i L need more stimulus...

more more more more more !! they shout

[damntexdem]

9. And now we hear about production cuts around the world.

What a coincidence!

[IronLionZion]

10. We need something to stimulate Americans' brains

Please, please, please elect Democrats who support education!

[MadHound]

13. Yep, just an elaborate way for our tax money to be transferred to the rich

We only get to hold on to it for a little while.

[onehandle]

14. File this under "no shit." ny

[delt664]

24. Seconded.

[suegeo]

28. thirded

[LynnTheDem]

15. Saudi is sure reaping the 911 profits.

But then, so is the entire bUsh cabal.

[Demobrat]

16. Just like last time.

When he came right out and said people should use their "rebates" to pay their energy bills. They should just give the money directly to Exxon and eliminate the middle-men. More efficient that way.

[Harry Monroe]

17. And dingoes ate my baby!!

[and-justice-for-all]

19. Those fuckers are NOT getting my 600.00..

I am taking all of mine to the Credit Union to pay on an auto loan.

[gorfle]

21. Can we pool our money and buy a new president?

:)

[TexasBushwhacker]

22. Considering that pawn shops are doing big business

with people selling household items to buy gas and groceries, how could $600 to $1200 per household help the economy all that much? Just because Bush doesn't have a clue, does he think we don't either?

[Pappy]

23. Well Bush should repeal his stupid ethenol bill, that would help some

Stupid Ethenol bill raised prices and its now causing food shortages, what a brilliant move. Who honestly think that by making 10% of gas ethenol that it would actually help the environment?

[aggiesal]

25. Yo George, this is your friend Shell speaking, ...

our buddies, Chevron, Exxon/Mobil and BP would like
it if you can distribute those tax rebate checks a little
early, say maybe by Monday.

You see, we plan to continue raising gas prices, so
those checks will actually go into stimulating our
pockets.

***** NEWS FLASH *****
This just in:
President Bush said tax rebates will start going out Monday, earlier than previously announced.
http://www.toledoblade.com/apps/pbcs.dll/article?AID=/20080425/NEWS14/984740732

Well done George.
Your Lifelong Friends,
Shell, Chevron, Exxon/Mobil & BP

[bluesmail]

26. the so called economic stimulus plan is a plan

to put that 'rebate?' right back onto the laps of Big Oil. No further comment needed.

[bluesmail]

27. * isn't going anywhere not after 'nobody' has challenged his

unitary executive, or whatever, He Is King. And when he says Economic Stimulus he means get on your knees and bow to Big Oil. Do It Or Else we have our vays.