economy solution (?)

the other day i rode the elevator with a random stranger.  for whatever reason he started spouting off to me about the economy.  no 'hello's' or anything, just 'hi im a total stranger and now im going to start talking to you as though we are longtime friends about a random subject.'  anyways, he told me that there was yet another bailout that was happening and that the government should just give every citizen $1,000,000 instead of bailing out all of these businesses.  ive received some email forwards that have proposed this same theory, so this man wasnt the first person to present this idea.  now im no economist, but i just dont think it would work.  it sounds like a great idea to all of us commoners and in an ideal world it could work.  you and i, and other responsible adults would probably be wise and prudent with our $1,000,000.  i know i would pay off all my student loans (pay back debt to the government), we would probably buy a house and pay for all of it or a huge portion of it (and not default on our loan and help the housing market), we would probably make a fun purchase, like a new car (and thus help the economy) and then we would invest a large portion as well (thus helping stocks and other areas that currently could use some investors).  

anyways, like i said, im no economist so i dont even know if every person that received $1,000,000 spent it prudently, if it would even save all the failing businesses.  you would think it would since people could pay off their houses and invest in the economy.  but the bottom line is that we all arent prudent and reasonable, in fact, most arent.  and when the man was telling me about 'his idea,' it made me think of a clip from the chappelle show, which perfectly explains what would really happen if the masses were given a huge chunk of money.  (note:  this clip does come from the chappelle show, therefore the language and content isnt entirely family friendly)

Dave Chappelle-Reparations For Slavery | Funny Jokes at JibJab