Personal income flat, but consumer spending increases.

Although distribution of tax rebates (estimated at $ 106.7 billion) only began in the 2nd quarter of 2008, 1st quarter statistics from the US Bureau of Economic Analysis showed improvements in the US economy.
Gross Domestic Product grew 1.0% in the 1st quarter of 2008 versus only 0.6% in the 4th quarter of 2007. Profits of financial corporations increased by $ 14. billion against a $74.4 billion decrease in the preceding quarter –indicating some recovery from the subprime crisis. Overall corporate profits decreased by only $5.2 billion in the 1st quarter of 2008 versus a $ 52.9 billion …read more

Estimated rebates for 2008 provided by the Economic Stimulus Act of 2008 total $ 106.7 billion, distributed on a weekly basis from 28 April through mid-July. Statistics from the US Bureau of Economic Analysis show improvements in Personal Incomes of US Residents.
The 5% savings rate indicate that a significant share of the tax rebates did not all go to consumption –although Personal Consumption Expenditures did go up by 0.8% (current dollars). If the Personal Consumption Expenditures are adjusted (i.e., 2000 dollars), the increase is only 0.4% –so some of the increase can be accounted for by …read more

Estimated rebates for 2008 provided by the Economic Stimulus Act of 2008 total $ 106.7 billion, distributed on a weekly basis from 28 April through mid-July.
Statistics from the US Bureau of Economic Analysis show improvements in Personal Incomes of US Residents:

It looks like, on a national basis, the tax rebates are working. A significant statistic is the Savings figure of 5% of Disposable Personal Income. Despite the increase in oil and foodprices, US residents have managed to maintain a good savings rate.
Is the Economic Stimulus Act working for you?
graphics by Ren Garcia

Estimated rebates for 2008 provided by the Economic Stimulus Act of 2008 total $ 106.7 billion, distributed on a weekly basis from 28 April through mid-July.
The amount of rebate is based on:
2007 tax filings
filing status
level of adjusted gross income
number of qualifying children.
Do you feel the Economic Stimulus Act working for you?
info source: US Bureau of Economic Analysis, image from Microsoft Clipart reconstructed by Ren Garcia