Nonsense spending:  all the above.  As for the economy, it will not matter if the people or the state spends the money, the economy will suffer the same.  The only way for the economy not to suffer will be to spend new savings.  As for the principle of the PFD, 5% of 50 billion is 2.5 billion.  Total state spending is at what, 4 billion plus the capitol budget, plus mega projects.  How much is the state dipping into savings this year?  Without high oil prices we will need the entire earning of the PF, and still not have enough.  And, don't forget, we are at the top of a massive asset bubble; the PF will suffer when property and stock prices some back to normal levels.