With our own government muddling our minds by telling us that a loan is a credit via the recently passed Housing and Economic Recovery Act of 2008, is it any wonder that Americans seem a bit economically challenged? Oh, sure, at least it’s an interest free loan, but as long as you have to pay it back, it sure is not a credit to this taxpayer.
And yes, I know you could play a little arbitrage and come out with a little extra coin in the end. But you and I both know that the majority of people taking advantage of this are not going to be doing that. They are going to be blowing it on some other thing they cannot really afford but for this $7,500 advance from the government. And then in a couple years they will discover they owe that money back, and be further in the hole than before. Could you please explain the logic in helping those with debt problems by giving them extra debt? All while sacking everyone — including future generations — with a little more debt via a nice little boost to the deficit? (Oh, that’s right, this isn’t a helping hand for citizens — it is for the banks.)
On a personal note, I am so looking forward to answering the inevitable client questions from those who take advantage of this as to why they need to pay an additional $500 in taxes, every year, for the next 15 years… 
I propose a new law:
Congress shall enact no new spending legislation during an election year.
