GMAC Bailout money

It would also stimulate an incredible amount of inflation by increasing the money supply by about 125,000,000,000. (assuming 250 million americans recieved these cheques). The inflation would be insane. Absolute levels of wealth do not matter because these days money is ‘fiat’ or merely has value because the bank that issued it (like Bank of Canada) says it has value and has a monopoly (counterfeit aside) on printing the stuff.

Inflation would probably be around 100% if the government decided to do this.

only 125 billion? phft.
Obama’s spent atleast 10x that on bailing out banks and other companies, and look where it’s got us.
Yes, 95% of the people would probably not have anything to show for that $50k after they got it, but I feel it would be a better thing to do than to help pay for vacations and bonuses to these thieves on wall street when they screwed the market up to begin with.