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Government Checks Won't Stimulate Consumers

DALLAS -- While some members of Congress are mulling the idea of another series of government checks to stimulate the economy, a majority of consumers say they would bank the extra cash or use it to pay down debt.

According to a survey released Tuesday by the International Council of Shopping Centers and Goldman Sachs, only 39 percent of consumers said they would spend the extra cash on holiday shopping. About the same number (38 percent) said they would save it, and 18 percent said they would pay down their debit.

Among consumers who would spend a tax rebate, 21 percent said they would use it on holiday gifts and 18 percent would spend it on themselves and their families, but not holiday gifts, according to a report in the Dallas Morning News. Twenty-nine percent of consumers said they saved the tax rebate check they received earlier this year, while 37 percent paid down debt with it and 33.5 percent spent it.
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