$9,718.49

$9,718.49! How would you like to get a check for this amount? That would be nice, huh? This is the amount that you would be entitled to, if the government sent your portion of the bailout money to you. How did I come up with this figure? From the CNN/Money website. CNNMoney.com took the total of the bank bailout, $700 billion, and added that to the proposed stimulus spending in the House of Representatives bill, $819 billion. That totals $1.519 trillion. They then divided that number by 156.3 million, which was the total number of U.S. filers in 2008.

So: $1.519 trillion divided by 156.3 million equals $9,718.49 per U.S. taxpayer.

Pretty sweet, right? Well, don't expect a check like that anytime soon. The reason why the government is sending bailout money to banks and other financial institutions and not to you, is because most people (not all) would save the money or use it to pay down debt. Saving and not spending does not stimulate the economy. But saving more and spending less is good right? Yes, for individuals and families, this is a wise move. And more people are doing just that in these tough economic times. But again, while it's good for your budget and future, it's not helpful to the local and national economy in the short run. This was proven last year when most Americans received checks in the mail for $600 per individual ($1200 per couple and $300 per child). Only 17% of the recipients actually spent the money on something. The rest put it in the bank or sent it to their credit card companies. A new proposal that is being weighed right now, is to give every taxpayer $500 in the form of a reduction in payroll taxes. This would get the money in your hands in smaller increments. Your weekly paycheck would increase by nearly $10. Doesn't sound like much right? Well, you're right, but the idea is that you will be much more inclined to spend the extra $10 than save it. Thus, your $500 will go into the economy instead of into your bank account. Well see if it actually happens that way. It sure would be nice to get that check for 10 large though!