This package is designed to reduce debt that is faced by many people during the collapse of the economy. Jobs were lost and bills became harder to pay. As an effort to help the people, the government has come up with this stimulus package to help them get out of their debt.

The stimulus packages works as follows:

1. It helps creditors reduce losses. Much of the money goes to the credit card companies making them even more willing to forgive your debt and sometimes they can waive up to 60% of your debt. If you take this opportunity to renegotiate your debt, you might get a positive response.
2. Credit card companies are very important to the government in order to generate the economy. Because when you spend, you will be paying out money this getting the economy back on track. Therefore the government cannot afford to lose these companies. This in turn benefits you as you will get help in becoming free of debt.
3. This package also serves as a warning to us. We are so accustomed to spending money we do not have and most of the time end up unable to pay our bills. This will be a remainder that maybe next time our spending might get the country into bigger troubles. That is why creditors are willing to forget your debt so that once your finances are back on track, you can continue spending again.

The government needs you to spend money so that the economy can re-generate. If you were in financial ruin and the stimulus package has saved you, you should consider being a more responsible shopper. Shopping is necessary but in moderate quantities. Avoid spending what you do not have so that you will not be caught up in the same mistakes again.