Personally....I don't think there could be anything better to get the economy going again. It saves everyone money...cash in the pocket every day which adds up. After all...when it comes right down to it, it's the insane oil and gas prices that got us into this mess to begin with. Not that it was the only thing, sub-prime interest rates, variable mortgages, etc, but this was probably the one thing that had the most dramatic most impact on everything and everyone. JMHO.
Of course there's a long way to come back, but there are sure lots of people living paycheck to paycheck that will be able to breath a little easier.