For those who think that quick spending by the government including the construction of mega projects is the way to go for stimulating the economy, then wasteful spending is really not a bad thing.
It does not matter how one spends the money so long as one spends it. They may even quote the great mighty Lord Keynes to lend support to their thinking - "You can employ men to dig holes on the road...."
There is a certain truth in this kind of thinking. The whole idea is to put cash into people's pockets so that they can spend in order to keep factories running so that people can continue to be employed by these factories.
At the macroeconomic level, it does not really matter how the money is spent - because we are thinking in the aggregate - not that the microeconomic workings are not important but that they are not being considered yet.
At the extreme, we could have money being printed and passed in boxes from the mint to the central bank who then delivered the cash to the government to be distributed - by some criteria - to the people.
The people receiving the cash would in principle spend on the things they need - like rice and salt - and then are happy. This is the political side. This is how elections in the free world are won.
But the economic consideration is slightly tricky. You want to see how that cash is used, specifically whether that cash can be used to stimulate production of products that people want. If the additional cash does not trigger additional effort on the part of the people, then the whole economy is in deep trouble. You have money without effort. This may sound like utopia for individuals, but it spells disaster for the whole nation - because it is not sustainable. More money can be printed - for forever - but the nation is likely to be incapable of doing anything else.
So when we are talking about "stimulating" the economy, we are talking about how to excite people into effort or more effort because they have become motivated to become active in the economic mainstream. There are incentives that they can see, incentives that excite them to excellence, that there is reward at the end of the day - either in terms of cash, awards or mere recognition from peers or community.
The money part is an important and crucial part, but it is only one small little part. The money is required because of the structure of the modern economic system, where there is such a great dicotomy between production and consumption - of the right stuff - that without money, we as individuals are dead in society.
The money part is the wheel that moves. The real part is the exercise of men and women in their daily existence - of the things they do to make themselves feel alive, every day, every moment.
The judge of the correctness of our government spending is whether it is exciting the right thing in the people. This is how we know whether we are heading the right direction, and whether we are going to have an economic future.