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Wasn;t it determined that no one actually spent that money and just paid of debt instead?
by strunz 7y ago
Wasn;t it determined that no one actually spent that money and just paid of debt instead?
- jfengel 7y agoNot no one, but few. That's what the National Bureau of Economic Research concluded: https://www.nber.org/papers/w15421 https://www.nber.org/papers/w15421 "Only about one-fifth of respondents in the Reuters/University of Michigan survey report that the 2008 tax rebates led them to mostly increase spending, while over half said it would lead them to mostly pay off debt... [T]he results imply that the rebates provided only a modest stimulus to spending per dollar of rebate."