Yes, that's why people who harp about debt-to-GDP ratio are usually ignorant of the fiscal multiplier. That said not all spending is the same. Spending on refor

Yes, that's why people who harp about debt-to-GDP ratio are usually ignorant of the fiscal multiplier. That said not all spending is the same. Spending on reforms or infrastructure that people benefit from (so things that help to make structural changes in the economy eg. by decreasing income inequality) has a large fiscal multiplier, spending on yet another useless thing (let's say paying Amazon - by giving it a tax break - to move its HQ from A to B) does nothing.