No, it's not going to each of us. It's going to those among us who could not manage their money. Those of us with some sense of not overextending our credit, and not over-buying our homes will get no benefit, but will be required to pay for this debacle for decades through taxes.
Instead, we are going to get high long term rates, low (or maybe even negative) short term rates and an inflation rate approaching double digits.
Then congress will just sit back and pray for a growing economy.