The ongoing economic downturns have raised alarm across the nation as the stock market continually reports losses and hundreds of thousands of homeowners feel the stinging backlash of subprime mortgage rates as they default on loans.

In an effort to boost the economy, motions were made recently in Congress to give rebates to Americans in the hope of stimulating spending.

Economic trends show that Americans typically do not save money as much as citizens of other nations. These rebates will provide a much needed temporary lift in the economic lilt and set up a chain of events whereby the stock market experiences a gradual rise again.

Taxpayers earning between $75,000 and $300,000 are eligible for the rebates, which give $500 per individual, $1,000 per couple, and $300 for each additional child in one’s family.

Though initial reports indicate that the majority of Americans eligible for these rebates plan to use the money to pay off debts rather than for additional spending, it is still a valuable plan to restore stability to the economy. The decrease of debt throughout the nation would show a promise of better economic status and free up future resources for consumers. Credit card debt, in addition to mortgage woes, continue to cripple middle Americans.

The Senate, which votes on the $146 billion stimulus bill this week, will decide whether to add an additional $10 billion to the plan passed Jan. 29 in the House of Representatives. The nation’s representatives in Congress must put aside partisan squabbling and finally make a move to support the American citizens in need of aid in this time of financial turmoil.

The flattening effect of global economics, especially in the form of departing manufacturing jobs and the rise of outsourcing has hurt Ohio’s jobs perhaps more than any state. Rebates will provide some much needed help.