Economic Stimulus Package Is Short-Term Fix, Survey Reveals
IRVINE, Calif. -- More than half of Americans feel the recently signed $152 billion federal economic stimulus package is a short-term solution for the troubled U.S. economy, according to an Experian Consumer Direct poll.
The Experian Consumer Direct and Experian Research Services survey was conducted March 6--12 and included 1,000 adults randomly selected from across the country, according to Experian.
Fifty-nine percent said they feel the stimulus package is a "short-term fix" for the U.S. economy, while 32% feel the package will cause more Americans to reinvest in the economy. When asked how consumers plan to use their rebate check from the federal economic stimulus package, 19% said they would pay off debt, 16% said they would pay utility bills and 10% said they would apply the proceeds toward home repairs.
Forty-one percent said they "strongly agree" that the economic stimulus package is not enough to help distressed homeowners. Twenty percent "disagree" that the stimulus package will harm the U.S. economy by increasing the federal deficit, while 16% said the effect of the stimulus package will lead to an increase in consumer spending.
The survey also gathered consumer attitudes regarding their 2007 federal income taxes. Twenty-five percent of respondents indicated they plan to use their refund to help pay off debt, 15% said they would invest the proceeds and 6% said they would use the refund for travel expenses. Nine percent plan to use their tax refund toward home repairs.
Of those who have not currently filed a 2007 tax return, 8% said they had planned to file on April 15, while 4% plan to file for an extension. Sixty-three percent of those surveyed filed their tax return electronically, and 48% of those who have not yet filed their return plan to do so via U.S. mail.