No. We need to cut spending a lower taxes to get this engine working again. People respond with greater effort when they get to keep a greater share of their efforts. See: http://finxknowledgeatcbsdu.files.wordpress.com/2008/07/lc-1.gif?w=300&h=202
But we have so much debt, that isn't really practical.
The reality is that taxes are going to have to increase, and spending is going to have to radically decrease. Think no SS, Medicare, overseas military, etc. There is no money, and a huge amount of debt