With unemployment rising and the signs of slowdown all around, is a second tax rebate or second stimulus check from Congress up ahead?

The U.S. economy continues to slow. More than 800,000 jobs have been lost since the slowdown began about a year ago, and many economists say the lay-offs are likely to continue or even increase.

Meanwhile, the world's major industrialized nations are striving to stabilize the global financial system and end a credit crunch that could further damage economies around the world.

Well, the answer to the question about a second stimulus check may very well rest on the answer to this one: Who are you voting for on Election Day, November 4?

Key factor: 2008 Election

Congressional Democrats, led by House Speaker Nancy Pelosi, D-California, have vowed to push for a second stimulus package totaling up to $150 billion to help jump-start the anemic U.S. economy, The San Francisco Chronicle reports.

It's not clear what exactly is causing the boost in Wal-Mart's (NYSE: WMT) share price today, but shares started climbing right around the time Wal-Mart announced that it will cash rebate checks from Uncle Sam for free. As of 3:15, shares are up about $1.17 or 2% to $58.52.

This is a pretty good plan for Wal-Mart. Tax rebates are being sent to over 130 million households this spring, for a total of about $100 billion. And while no purchase is necessary to cash the checks without the usual $3 fee at Wal-Mart, prices at the store are being cut on basics like juice and shampoo to entice rebate recipients to spend a little time in the aisles picking up a few items. As any retailer knows, there's nothing like a customer with a pocket full of extra cash to create a few extra sales.

Wal-Mart is not alone in using this tactic. Sears (NASDAQ: SHLD) and Kroger (NYSE: KR) are offering extra discounts to shoppers armed with rebate checks, but only if customers spend all of their checks at their stores. It sounds like Wal-Mart is offering the better deal. And if Wal-Mart could capture just 1% of the rebate checks flooding the country right now, it could generate an extra billion dollars in sales.

Maybe Bush's questionable stimulus plan should be called the Enrich Wal-Mart Investors Act of 2008.