From what I've seen of #CivilEngineering and the news, that seems generally accurate.

Government normally aims for useful and cost-effective, but slow. #FiscalStimulus needs to be fast, but often money allocated for that purpose is actually spent after a #recession ends. And the money that *is* spent quickly tends to be spent on things that would fail cost-benefit considerations at other times.

This is why under most situations #MonetaryPolicy and automatic stabilisers should be preferred.

Not being an economist, my views on the merits of #FiscalStimulus generally or specifically should be treated sceptically. Even so...

I read an essay by #DavidFrum once in which he claimed that government spending could be fast, cost-effective or useful: pick two. That is, a government can build something useful at a good price, but not quickly; it can rapidly build something useful, but not at a good price; it can build something quickly and cheaply, but it won't be particularly useful.