Paulson: Economy has turned down sharply

[I-luvmoney]

Paulson said on Thursday that the U.S. economy had “turned down sharply” and still faced risks from the housing and finance sectors.
“The U.S. economy ... has turned down sharply. Risks continue to be do the downside,” he said, citing troubles both in the housing sector and capital markets.
However, he noted that under an enacted economic stimulus bill, tax rebate checks would begin going out in early May. “We believe that given how they are targeted that they will make a real difference in the economy,” he said.

we will have to wait and see how this plays out i think we are in
for a long hall on this mess

read here http://www.msnbc.msn.com/id/24049112/

[moneysense]

The tax rebates that are given as a stimulus may not help as much as is thought. Most people will be putting that money away for "harder" times.

That way they know they will have something to fall back on. And unless most people spend these checks, I dont believe it wil help much if at all.