Will it work?

For those of you that don't know what I am talking about the government approved not too long ago a plan that works as follows:

As many as 116 million people would be eligible to receive tax rebates, which range from $300 to $1,200 per household. Not everyone gets a check: only those who earned at least $3,000 and less than $75,000 in 2007 (the cap is $150,000 for joint filers). Eligible households with children would see a rebate of $300 per child.

The idea is for said money to flow back into the economy once returned to people. But I am wondering if it will work. See I fall into the percent of people that qualify to get the money but I have a Student loan, Car payment, and numerous credit cards. So while I would like to blow the money chances are - I have already spent it so to speak.

But on the other hand last year - while I used my tax check to pay on the before menchened bills - my brother bought a motorcycle and computer parts/furniture and my sister a brand new TV and entrainment center. This year I don't know their plans for their money - though my sister may have wised up my bother it's not likely has changed.

So I am wonder how many people like me are already in debt from over buying and will use the money to cover said debts instead of buying even more?