Watch the Budget: Jay-Z Splurges $300K in Miami

While most folks are trying to find ways to pinch and scrape a dollar in our down economy, Jay-Z seems to have no problem spending endless amounts of money.

According to PEOPLE, the Hip-Hop Cash King was recently spotted blowing $250,000 on Armand de Brignac champagne during his 'Watch the Throne' release party at Miami's posh Fontainebleau hotel. And that's not all! The veteran rhyme-slinger also dropped $50,000 in tips at the hotel's Italian restaurant Scarpetta where he wine and dine with his entourage.

Interestingly, on Jay-Z's 'Watch the Throne' album, the rap king speaks highly of the Fontainbleau Hotel in one of his songs. On the braggadocios track 'Primetime' (with Kanye West), Hov raps: "New money, I found the fountain of youth / I’m headed to Miami to f--k up the Fontaine Bleu / A case of Ace, make it 2 / N---a we rolling, beat the deuce / The night is young, what the f--k we gonna do."

Talk about art imitating life, or is it the other way around?

But the night wasn't over for Jigga, after he stuffed his face with pasta, he moved the party to Miami Beach's LIV nightclub where he chilled until the early morning. "Jay-Z was well-behaved and laid low all night on a banquette with his entourage of boys," an insider told PEOPLE.

Recession? What recession?