My first complaint about all this money that the politicians want to "give back" to the people is that not everyone gets the money. (Just like that one from George Bush; not every body got that "stimulus check", or the one before that.)
And, as you so clearly point out, bailing out failing banks, irresponsible home owners, financing ballparks, bridges (and tunnels!) to no where, rebuilding New Orleans (again! look it up: how many times has it been zapped? No thinking person would want to live there.), etc., is why (a big part of the why) our economy is down the tubes.
Another major factor is all those Illegals; 13,000,000 of them send $40,000,000,000 (according to Money Magazine) each year back home to Mexico, the Carribean, and Latin America: the biggest part of those government's revenues.
And, don't forget that oil (gasoline) soared at the pumps because of those folks at Wall Street bidding the prices up.
So, yes, in a nutshell, Obama is "buying" votes.
Like his saying tire pressure makes a big difference in mpg. I have kept logs on all of my cars, trucks, vans for the past 45 years; the most important thing about tire pressure is SAFETY and has no significant effect on mpg. Now, if folks would drive ONLY when necessary, that would make a big impact on gasoline prices which in turn effects our imports and balance of trade. Why didn't Obama bring THAT up?