Oil prices continued to trade on Friday above the $140 per barrel mark. Sending out the stimulus checks, the government was hoping to bolster consumer spending. There was a survey done, according to the Manchester Times’ website, of 3004 people that found 29.4 percent of the funds that people received from the stimulus check are going to be for everyday expenses and 20 percent would use it to pay down their credit card debts...
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Another 24.4 percent would use it to help them avoid foreclosure of their home, bankruptcy, or organize their finances to help avoid foreclosure or bankruptcy. That only leaves 26.2 percent that would spend it in the economy. To help stimulate the economy, consumers would need to spend it on goods and services, paying debts or helping with the cost of necessities, may not help get us out of recession...
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