Mayor Michael Bloomberg has unleashed another flurry of jabs on Washington, ridiculing the federal government's rebate checks as being "like giving a drink to an alcoholic" on Thursday, and said the presidential candidates are looking for easy solutions to complex economic problems.

The billionaire and potential independent presidential candidate also said the nation "has a balance sheet that's starting to look more and more like a third-world country."

President Bush signed legislation Wednesday that will result in cash rebates ranging from $300 to $1,200 for more than 130 million people.

The federal checks are the centerpiece of the government's emergency effort to stimulate the economy, under the theory that most people will spend the money right away.

But Bloomberg does not believe it will do much good. And his harsh words at a news conference Thursday reflect the view among some of his associates that the country's economic woes present a unique opportunity for him to launch a third-party bid for the White House.

http://wcbstv.com/campaign08/bloomberg.federal.government.2.654315.html

>"has a balance sheet that's starting to look more and more like a third-world country."