Lifehacker has a poll asking people "What Are You Doing with Your Stimulus Check?"
Over 60% said they are either saving it all, or using it to pay down bills/debt:
Spending on essentials. 5.6%
Frivolous shopping spree! 12.6%
Saving it all. 23.8%
Paying bills or debt. 37.0%
A little of everything. 21.0%
Two caveats to this: As we have seen in so many surveys, what people say they plan on doing, and then what they actually do, are often two very different things.
Secondly, we don’t know the demographics of Lifehacker readers — geeks? middle class? higher educated? — and they might skew differently than the nation as a whole.
Regardless, its an interesting data set.
See also: My check? It’s going to pay off bills
We have previously reviewed the Uncle Sam’s withholding tax data as a read into the overall health of the economy. The most recent data point (March 13) shows W/H tax reaching a 23 month low. But we don’t like to rely on any single data point, especially one from a volatile series. Instead, look at…Read More
Another appearance on Kudlow & Co. tonite, from 7:00 to 7:30pm (ish).
Also on tonite: David Malpass, Bear Stearns chief economist, Jimmy Pethokoukis, senior writer at U.S. News & World Report, Andy Busch, global FX strategist at BMO Capital Markets, Jim Awad, chairman of WP Stewart Asset Management, and Don Luskin, chief investment officer, Trend Macro.
Note that Jimmy Pethokoukis and I have a bet as to whether or not there is a recession or not.
UPDATE: May 14, 2008 11:47pm
Considering it was 4 on 1, I thought I held up pretty well.