Basic economics says that would fail.  If we gave each American $1 million, many would go on a spending spree.  But the NUMBER of products (houses, cars, TV's, etc) is fixed - as are means of production.  (We can't overnight produce millions of new cars, houses...)  What would result is a bidding war otherwise know as massive inflation.  This is how money becomes useless.  Many countries have tried printing more & more money to get out of problems which essentially devalued that same money.  Paying down our debt to other countries is a much better choice.