Are you ready for some money?

As I was picking up the kids at my parents' house yesterday, I overheard mention of something that would "bring relief to millions of tax payers" on the news. And then the kids started into something that quickly took my attention away from the TV (lost shoes, fighting over who was or wasn't picking up toys, I don't even remember now). Fast forward to a conversation with my sister last night and we're talking about money (or lack, thereof) and she mentions this tax rebate. So, today, I had to do some research- see what we might be in for. What I found is that, in an effort to ward off a recession, the government is counting on the irresponsibility, impulsivness, and greed of the American people to immediately go out and spend any extra money they may get their hands on. And, for the most part, they are probably correct in their assumptions. It's one of the defining characteristics of the American people. So, they are thinking of providing that extra money. How much, you may ask. That's not quite clear yet. An article written yesterday said, "The administration is examining boosting those amounts this time around (referring to the $300/individual, $600/family tax rebate given to Americans in 2001) to up to $800 for individual taxpayers and $1,600 for families." The most recent article that I read states that: "Lawmakers are considering tax breaks for businesses investing in new equipment and a $500 rebate for individuals, said congressional aides involved in the talks. Details for couples and people with children are still being negotiated." So, as of right now, we may be getting "stimulated" with an extra $500+ so that we can go forth and be frivolous and save our economy from certain doom.
Now, I am no economist. I went into my required Macroeconomics class in college saying to myself that, "If I came out with a 'C', I would be happy," and that's exactly what I did (talk about your self-fulfilling prophecies). So, suffice it to say, I don't know all of the intricacies of finance, economies, and government. But it seems to me that since it is now tax season and most Americans will be getting a tax rebate, that it will do the same thing- giving us "extra" money that we can go forth and blow. That being said, who couldn't use an extra $500+ dollars? So, with no decisions being made and no guarantees, how would you spend an extra $500- $1000? Just food for thought... I'll be doing some thinking this weekend and get back to you with my answer.