Giving that money to everybody would just increase inflation and nullify a large portion of the credit. You can't just make more money and everybody's rich, you need the resources to back it up.

Now if that kind of war money (actually substantially less, since it's bankrupting the country) were put into education, healthcare, or perhapse a multitude of disease research, I'd be a good deal more supporting. It seems, though, when kids can't get education and people can't get medicare, we just don't have the money..... but a war in a Iraq? Oh yes, we'll spend any amount on that, here's the funds!