Look at the situation this way - this is a re-allocation of resources. Taken away from those who have too much, and who are using it poorly, and redistributing it to people who keep it in circulation. Like bank robbers spending the proceeds of their theft. No real wealth was created, but boy, did the local economy ever kick up.
Money disbursed this way was not available to purchase coke or other hard drugs, and probably most of it stayed in the US instead of streaming south to Colombia.