
A lot of people are asking if the country is headed towards a recession. Politicians are trying to come up with ways to stimulate our economy and one proposal is a tax rebate check.
Congress and President Bush both agree that something needs to be done. There's been talk of sending out rebate checks to consumers but they are still debating who gets it and how much.
On Martin Luther King Day, a lot of stores are offering deals to entice shoppers to spend money — which is always good for the economy. But the question is, is it working?
Gary Sams is a man on a mission. He is determined to shop and plans to cover the entire Galleria Mall by 9 o'clock.
“I don't get out much so whenever I get a chance, I do take advantage of the sales,” he said.
And with all the holiday sales, he's off to a good start, “$8 for a pair of dress pants. $8 for a dress shirt.”
But he says the uncertainty of the economy is fresh on his mind. “I am not out there spending on any high ticket luxury items. I am trying to not get into any debt.”
As Sams and other shoppers found out, stores aren't shy about their sales. You don't even have to go in the store to see the markdowns.
“I've seen a lot of 70-percent and there are good sales out there,” said shopper Robin Giese. She's shopping with her daughter and grandkids today. And while they are looking for jewelry, she says she's being very careful about what she buys.
“I am probably not spending as much as I usually do — waiting to see what happens,” she said.
While the stock market was closed for the holiday, foreign markets took a dive because of fears of a possible U.S. recession.
Experts are anxiously waiting to see what plan President Bush and Congress come up with, how soon it will be implemented and whether it will jumpstart the economy.
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