Gas bills ate your rebate: OPEC Countries- Not America- 'Stimulated'

Due to rising gas prices and an increasing dependency on imports for our energy sector, the stimulus package will be stimulating the oil-producing OPEC economies of the Middle East rather than reviving the American economy at home.

Source CNN Money

When President Bush announced that the government would begin distributing economic stimulus checks on Monday, he did so in the shadow of ever-rising gas prices.

The point is to boost the flagging U.S. economy. But record gasoline prices mean that up to a third of stimulus payments could be spent buying gasoline, most of which is imported from abroad.

"The rebate goes into the tank, and then finds its way into economies far from our own," said Jared Bernstein, a senior economist at the Economic Policy Institute, a liberal think tank.

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