Paper: Instead of QE, the Fed Could Have Given $56,000 to Every Household in America

`` For the trillions already doled out to the financial sector via those "quantitative easing" asset purchases, every family in America could have been on the receiving end of $56,000. The result, the authors contend, would be an economic boost fueled not by re-inflating the housing market but by consumer spending, which accounts for nearly 70 percent of America's GDP.''