As for people paying off debt with rebate checks, nothing could be further from the truth. Debt has increased significantly at the same time rebates are being cashed. We spend, spend spend.
I saw a cartoon that had two guys walking down the street and one said to the other, “The economy’s bound to turn around. Never underestimate the American Consumer’s totally irresistible compulsion to spend money they don’t have on absurd junk they’ll never need.” Fact or Fiction? You decide… 😉