Expert: Checks stimulating foreign economies

NORWALK - A Connecticut-based research group says most of the government-issued stimulus checks are making their way into gas tanks, fueling overseas economies.

The Connecticut Public Interest Research Group released a study Wednesday that found many people are using stimulus checks to pay for gas, which nationally has surpassed $4.00 a gallon.

?You?re helping out primarily the economy of the country that?s supplying the crude oil,? says Edward Deak, the head of economics at Fairfield University. ?That could be Kuwait, or Saudi Arabia, or Venezuela or Mexico.?

Deak says the government would rather see the money spent domestically, instead of filling wallets abroad.

?The problem is what happens when it runs out?? he says.

advertisement | advertise on News 12

Trending Video

Max Antoine, 33, was shot and killed early 1 Family urges Stamford man's killer to surrender to police
State and local leaders kicked off a city-wide 2 Bridgeport kicks off anti-litter campaign
One person has been pronounced dead after an 3 Police: 1 person killed in Bridgeport shooting
Police say a man and woman from New 4 Police: Couple steals $30K in supplies from Home Depot
VIDEO: Bridgeport murder surveillance 5 VIDEO: Bridgeport murder surveillance

advertisement | advertise on News 12


Focus on Connecticut Focus on Connecticut

Features local, state and federal officials discussing the issues around southwestern Connecticut.

Celebrates African-American culture in southwestern Connecticut. Our Lives

Celebrates African-American culture in southwestern Connecticut.

Each week News 12 Connecticut introduces you to Hometown Hero

News 12 highlights people who give to the community.

We spotlight a local team each week. Connecticut Team of the Week

Each week News 12 Connecticut highlights a team from a local school.

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.