by Donald J. Trump

I have to admit I wasn’t so sure the government’s economic stimulus plan was going to be the perfect solution to all our nation’s woes. I still don’t think it’s much more than a temporary Band-Aid but at least it seems to be helping.

The Commerce Department reports that the millions of economic stimulus payments sent out in the first wave gave a huge boost to household finances in May, boosting consumer spending by the largest amount in six months and sending after-tax incomes up by the largest amount in more than three decades.

The Bush administration hopes that the $106.7 billion in stimulus payments being made to some 130 million households will offset serious economic problems arising from everything from a seemingly unending housing slump, rising debt, soaring energy issues, and more. However, many people are concerned that this economic boost will only be temporary. Once the checks are spent, the risks of more economic downturn are still there. They may even increase.

Just look at the financial markets. Recently, the Dow Jones industrial average plunged 360 points in one day, its lowest level in nearly two years. The economic impact obviously can’t be good, stimulus checks or not.

So what’s next? If you got a check and didn’t spend it yet, consider making some well-thought-out purchases, at least with some of the money. If you need it to pay bills, then do that. I’m glad the checks are making an impact but I know it’s no long-term economic cure. We need a serious fix, not a short-term solution.

Donald J. Trump is Chairman of Trump University.