Stimulus checks won't trigger spending

DALLAS, Nov. 5 (UPI) -- A new consumer survey indicates only 39 percent of Americans will go shopping if the U.S. Congress provides another economic stimulus check.

The inquiry commissioned by Goldman Sachs and the International Council of Shopping Centers found 38 percent of those surveyed would save any money from Uncle Sam, The Dallas Morning News reported Wednesday.

Eighteen percent of the 1,000 consumers surveyed indicated they would use the extra money to pay down existing debt.

The newspaper says retailers have been pushing for rebate checks in time for holiday shopping because they fear consumers are tightening their belts.

Last month the J.C. Penney chief executive Myron Ullman suggested the government send out gift cards instead of checks. Ullman said the stimulus checks issued earlier this year were offset by higher fuel prices.