THE ECONOMY

Last spring, 45 percent of Americans believed their rebate checks would help stimulate the economy, a Harris Poll found.

Now that summer is over and the checks are cashed, attitudes have changed. More than half of Americans (52 percent) say spending the checks did not stimulate the economy, while 37 percent believe that it did.

These are some of the results of a nationwide Harris Poll of 2,710 U.S. adults surveyed online between Aug. 11 and 17:

•52 percent of Republicans say rebate checks did stimulate the economy; 61 percent of Democrats and 56 percent of independents say they did not.

•In April, 73 percent predicted they would receive payment; 71 percent now say they received a rebate check.

How the checks were spent: While the government hoped that the checks would be spent to spur the economy, the reality was a little different.

•People primarily used their checks to reduce non-mortgage debt, such as paying off bills or credit cards (36 percent) and to add to their cash savings (29 percent).

•One in five (21 percent) did actually spend the money on other things they wanted to buy.

•Just one in 10 actually used the rebate to take a trip for leisure purposes.

•Americans spent their money on home improvements (14 percent) and in restaurants (12 percent).

•Only 5 percent said they used the money for technology devices or entertainment events.

As predicted, much of the rebate money ended up deposited in savings or being mailed to credit card issuers. Retailers did try their best to get some of the rebate money, but not as much as they wanted.

The economy is still one of the most important issues facing the country – something that did not change from late spring to the end of the summer.

With the economic uncertainty, Americans thought they would want to put away some cash and help reduce debt, and that is exactly what they did.

From wire reports