Last week, congressional Democrats began shaping a possible economic stimulus package - a sequel to this spring's first round, when about $100 billion worth of rebates were handed out to taxpayers.
Backers of the proposed package say it is needed because of rising inflation and unemployment, combined with tightening credit and a slumping housing market.
But President Bush has said a second stimulus package would be premature, citing the resilience of the nation's economy.
In a series of on-the-street interviews, Missoula residents had varied reactions to the proposal.
“In theory, yeah, it would be great to get another check because who doesn't want more money from the federal government,” said Jared Frickle, 26, a law student at the University of Montana who was walking downtown on Friday. “But it would just dig the government into a bigger hole in an attempt to uplift the economy.”
Outside a downtown coffee shop, Molly Elshire, 24, paused from working her crossword puzzle to consider the prospect of another check. She said she used the first $300 check to open a savings account.
“It would be really nice because I have to start paying off my student loans, but I could manage without it,” said Elshire, who graduated from UM in December and works at a group home for teen mothers. “It seems like a ploy, with it being an election year.”
Several folks said the first round of economic stimulus checks failed to jolt the economy, so they doubted a repeat would have much effect.
The first checks, designed to jump-start consumer spending in a flagging economy, ranged from $300 to $600 for individual taxpayers and $1,200 for married couples. Some taxpayers with children received $300 per child.
But with prices soaring for gas and basic commodities on grocery shelves, several people said their checks were used for basics or for paying bills.
“I don't think it is enough to stimulate the economy. Inflation is doubling, so people are using their (spring) economic stimulus checks just to get by,” said Mitch Royce, a train dispatcher who was outside Big Dipper Ice Cream on South Higgins Avenue.
Kirk Flynn, wearing a black hat emblazoned with the phrase “Yadda Yadda Yadda,” said the checks would be a Band-Aid on a larger problem.
“It won't change our energy problems or keep us from having problems on Wall Street,” said Flynn, who works at the University of Montana.
But Missoula County resident Roman Bucholtz, 24, said the money could help repay some student loans, which is what he did with his spring check. He and his wife, Rachel, recently graduated from Central Washington University in Ellensburg, Wash.
“We would use the money to pay down our loans or have more money to tithe,” said Bucholtz, who does maintenance work at Missoula's First Presbyterian Church.
Reporter Pamela J. Podger can be reached at 523-5241 or at pamela.podger@missoulian.com.
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