The drop will create a lot of disposable income for US consumers. It will also relieve a lot of economic pain for many. It will boost employment some.
The economic activity associated with fracking and pumping our own oil is good for the economy.
More disposable dollars will also help the economy, but it’s unlikely to alleviate the main fundamental flaw in our economy.
A lot of those freed up dollars will go to buy cheap Chinese imports as opposed to foriegn oil imports. Thus those dollars will still be funding the build up of our competitors and ideological opponents. And could accelerate the offshoring and sell out of American firms.
Until we restore the import tariffs and bring manufacturing back to the US, we will remain on the course of weakening the U.S. until our labor costs are competitive with third world countries.
I am not complaining about the falling gas prices and think they need to go much lower