I think it depends a lot on who it is and how it's being spent. I don't' think there is a one size fits all answer here.
With that said, TB is right. The people are no longer in control, but aren't we kidding ourselves when we say "vote 'em out"? Haven't politics over the years shown that ultimately, politicians end up more concerned with politics than anything else?
And I'm sorry, spin it however you want but a capitalist economy is only going to worsen unemployment in this day and age. Technology has and will continue to take jobs away because it promotes profits to businesses. As business profits skyrocket, the rich then become more powerful than the politicians thus controlling who gets the funding to run for office and thus increase corruption. As lifespans increase, population grows and technology advances how do we suppose we're just going to conjure jobs out of thin air?
I'm not saying "go socialism" because I'm aware of the impact a curve creates but perhaps we will have to come up with some form of hybrid that can limit the power of the rich because don't kid yourselves...they are who truly run this and other countries.
I've had this thought before...limit a persons income to 5 times that of the normal "cost of life" and then force retirement. This still allows for people to achieve high levels of success beyond others but then instead of continuing to empower them with far more money than is needed to live and support ones family, they retire comfortably at a younger age and open up jobs to those beneath them creating a trickle effect right on down to the loading docks. Of course you have to close loopholes for hiding money but... Opinions?