2010 Stimulus Check & 2009 Stimulus Check

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Stimulus Package

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Economy is slowing down in second quarter 2010

Monday, August 2nd, 2010

There is a new report coming out of Washington showing the economy in the United States is slowing down compared to where it was a year ago.   The economy is even slowing down from the first quarter of this year.  This recent slowdown in the economy shows how the fragile the economic turnaround is and how it is unlikely to be providing many new jobs in the coming months.

The growth percentage in the 2nd quarter in 2010 was 2.4% and 3.7% growth in the first quarter.  Both numbers were down from the 4th quarter in 2009 of 3.7%.  This data suggests a deeper recession then any other data previously suggested.

Many analysts have attributed the downturn to the housing tax credit expiring, as well as the lack of stimulus checks and other stimulus style benefits that were helping the economy rebound.  There are economics that are suggesting another round of stimulus checks would be key to helping in the recovery of the recent downturn.

Posted in 2010 stimulus check, Stimulus, Stimulus Check, Stimulus Package | No Responses »

2010 Stimulus Check Update

Sunday, July 4th, 2010

The 2010 stimulus check has been rumored for many many months now, going back to fall of 2009 if there was going to be one or not.  There was hope of a 2010 stimulus check after the major successes of the 2008 stimulus check sent out by President Bush and the 2009 stimulus check sent out by President Obama.

However, at this time, there is no 2010 stimulus check planned for 2010.  Had there been a stimulus check this year, it would have already been in the process of going out starting sometime around may or june of this year.

Keep checking back to see if there are any updates on the 2010 stimulus check.

Posted in 2009 Stimulus Check, 2010 stimulus check, Obama, Stimulus Check, Stimulus Package | 4 Responses »

How has the 2009 stimulus act done for creating new jobs?

Sunday, July 4th, 2010

Have you ever stepped back and thought about one of the original reasons the 2009 stimulus act was created and how it measures up to what actually happened?  The stimulus act was originally set up to provide new jobs to help with the ever raising joblessness rate.  If you look at how the money was split up, it didn’t do very well to create new jobs.

By tracking the money it was split up into roughly three thirds.

The first third was used as tax breaks to those that already had jobs.  Yes, it was nice for those of us that had jobs, but the little amount that we did save was meant to be spent to stimulate the economy.  Which is hard to track how well that worked out.

The second third was used to add funds to health care and education budgets to help teachers and other people make it through the falling incomes collected by taxes to pay salaries.  Teachers and other people in this field keeping their jobs is a good thing, since teachers are teaching the youth of America.  That is a field we can’t do without.

The final third was meant to create new jobs.  The money was sent out to grants and other channels with the intention of hiring those that didn’t have jobs.  The road improvements by far did the best for creating jobs and also doing something that has been needing to be done for a while now.  As for the rest of it?  There have been numerous reports of spending the money on needed upgrades in equipment and keeping people on payroll instead of laying them off.  With very little going towards hiring new people.

How did it fair, not very well if you ask me.

To figure out how this relates to the 2009 and 2010 stimulus checks that money would have been part of the tax breaks.  It has been helping people keep afloat in this tough economic times and not really spent on random things to keep the economy going.

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Posted in 2009 Stimulus Check, 2010 stimulus check, Stimulus Package | No Responses »

Stimulus Check Date

Thursday, May 13th, 2010

The stimulus checks were sent out over a set schedule the last couple years.  The date the stimulus check was sent out varied for the year it was sent out.

2010 Stimulus Check

There is currently no stimulus check in 2010. Therefore there is no set date that the stimulus check is set to go out on.

2009 Stimulus Check

The 2009 stimulus check was sent out between late April and late June to those on social security and retired military.   These checks were worth $250 dollars.

2008 Stimulus Check

The 2008 stimulus check was sent out to everyone in American 18 and over.  These checks were worth $600 if you paid at least $600 in federal taxes.  Less if you made over a max limit cap.

Posted in 2009 Stimulus Check, 2010 stimulus check, Second Stimulus Check, Stimulus Check, Stimulus Package | 3 Responses »

Where is My Stimulus Check?

Saturday, May 8th, 2010

If you are wondering the same thing as many American’s are, you are thinking. “Where is My Stimulus Check?” If you are thinking that, you aren’t alone.  After the 2009 stimulus check that sent $250 checks to millions of retired Americans or the 2008 stimulus check that sent checks to every man woman and child in America.  It can be easy to think or wonder, where is the stimulus check in 2010?

The short answer, is that there is currently no 2010 stimulus check.  There have been talks, but no checks. no stimulus money will be sent out this year.

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Posted in 2009 Stimulus Check, 2010 stimulus check, Second Stimulus Check, Stimulus, Stimulus Package | 9 Responses »

Cash For Appliances

Tuesday, January 5th, 2010

There is a new federal stimulus program that began Jan 1, 2010 called Cash for Appliances.

This new stimulus program is similar to the Cash for Clunkers that ran throughout 2009 where you traded in your junker car for a new one with better gas mileage and reduced CO2 emissions.

The new Cash for Appliances program running in several states lets you trade in your appliances for a discount on a new one that is more energy efficient.

You can get up to $100 rebates on washing machines, $75 on a refrigerator and $50 for a room air conditioner.  This rebate works on nearly any new energy star appliance in your household.

Check the new federal site for more information on Cash for Appliances

http://www.energysavers.gov/financial/70020.html

Posted in Stimulus Package | 5 Responses »

President Obama lowered expectations in 2010

Tuesday, January 5th, 2010

In 2009, President Obama set some mighty high goals for his first year in office.  To his credit, he hit most of them.  The big winners were the multi billion dollar stimulus package, making progress for financial reform, lowering unemployment rates and dealing with terrorist threats.

Since this is a blog about the Stimulus Check, I won’t go over the points from the other achievements President Obama has made.   The Stimulus Package that he signed into law shortly after coming into office created many opportunities and hope for businesses and individuals.

Not everyone can agree on how they see eye to eye on if what Obama did was the best, but it did work.  He got money into the hands of most of the people who needed it most.

Most of the plans from the stimulus package about helping those that are currently employed remain in effect through 2010.  For those currently not working and retired, there will more then likely be a 2010 stimulus check coming your way this spring/summer.

Posted in 2009 Stimulus Check, 2010 stimulus check, Obama, Second Stimulus Check, Stimulus, Stimulus Check, Stimulus Package | 3 Responses »

Will the $250 2009 stimulus check have to be paid back?

Wednesday, July 8th, 2009

Question: Will the $250 2009 stimulus check have to be paid back?

Answer: It depends. But mostly likely no, you do not have to pay back the $250 2009 stimulus check that you received this year as part of the 2009 stimulus package.

Instead of explaining why you would not have to pay back the 2009 stimulus check it is easier to explain why you would have to pay it back to the government.

There are currently 2 ways that you would have to pay back the 2009 stimulus check that you received in the mail or via direct deposit.

  1. If you are on social security and receiving social security income and received a $250 stimulus check because of that AND are also working at a job you will have to pay back the $250 stimulus check.  By working at your job you will be eligible for the $400 tax rebate that is adding additional funds to your paycheck each week.  Since you can’t double dip, you will have to repay the $250 come tax time in April 2010.
  2. If you are on social security receiving a check like the first point AND also received a military pension or other form of military check each month AND received a $250 stimulus check from both sources, you will have to pay back one of the $250 stimlus checks.  The military went through the records and tried to exclude anyone already in this category from receiving a second stimulus check in 2009.  It is possible that not every had their 2nd stimulus check not sent out.

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Posted in 2009 Stimulus Check, Second Stimulus Check, Stimulus Check, Stimulus Package | 9 Responses »

2009 Stimulus Check

Saturday, May 30th, 2009

In the recent stimulus package passed by President Obama earlier this year, otherwise known as the American Recovery and Reinvestment Act of 2009, Obama provided many forms of stimulus and stimulus checks to provide the economy.  The only mentions of a 2009 stimulus check for the American public were in two places in the recently passed Stimulus bill.

The first is a 2009 stimulus check for those on social security incomes, military pensions and railroad pensions.  This is a $250 2009 stimulus check that is a one time payment similar to the 2008 stimulus check that President Bush issued last year.  To qualify for the 2009 stimulus check you had to have already been on social security by the end of 2008 to receive your 2009 stimulus check in May 2009.  If you started your social security income January 1, 2009 or later you do not qualify for this years stimulus check.  However if there is a 2010 stimulus check similar to how the 2009 stimulus check worked you would qualify next year for that stimulus check.

The second part of the 2009 stimulus check is a tax rebate that amounts to $400 if you are single or $800 if you are married over the course of 2009.  Starting in April 2009 the government is lowering the taxes withheld from your paychecks to the amount of about about $20/week so that over the course of the year it would amount to $400 (or $800).  This is the only 2009 stimulus check that is available to those that are working.  The 2009 stimulus check is essentially a $400 check paid over the course of the year.

This 2009 stimulus check that is being paid out weekly via a tax rebate will be in effect for 2010 as well.  The amount of the money making up the 2010 stimulus check on a weekly basis is less then this years $20/week because it is spread out over the course of the entire year instead of 8 months.

There is not a singular 2009 stimulus check for those on employment, it is split up into several incentives.  President Obama provided the following ways to help those on unemployment through the 2009 stimulus package.
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Posted in 2009 Stimulus Check, Obama, Stimulus Check, Stimulus Package, Unemployment | 77 Responses »

Will the american taxpayers receive a stimulus check for 2009?

Thursday, May 28th, 2009

Will the American taxpayers receive a stimulus check for 2009?  How will the mortgage modification program outlined work if and when some lenders refuse to cooperate with the stimulus package?  Will there be any other sort of 2009 stimulus check given out this year? Will there be a 2010 stimulus check?

Only a small percentage of Americans will be eligible and benefit from the 2009 stimulus package for a stimulus check in 2009.  Americans that are on social security and other retirement incomes will receive the 2009 stimulus check.  All other Americans that are working will receive an increase on their paycheck in the form of of a tax credit totaling $400 for 2009, about $13 per paycheck.  Those on unemployment benefits have a few benefits as well from the stimulus package.

The mortgage modification program does not apply to everyone nor is everyone qualified for the program.  Those that do meet the requirements for buying their first house and in the certain time period that it is bought will get the benefits of the mortgage program.

This is the only stimulus check sent out in 2009  for those on retirement incomes.  If you didn’t get one yet and you weren’t eligible to receive the one sent out you will not be receiving one.

As of this time there is no information on if there is a 2010 stimulus check or how it would work.

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Posted in 2009 Stimulus Check, Obama, Stimulus Check, Stimulus Package | 27 Responses »

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