It depends where the dollar comes from. If the dollar is from taxes, it not only destroys the dollar but nearly two others along with it. If the dollar is from borrowing, the result is better. But if the dollar is in the form of tax cuts, then it ends up creating more good than bad.

As I've quoted elsewhere, this is from the study by Romer and Romer. http://elsa.berkeley.edu/~cromer/RomerDraft307.pdf http://elsa.berkeley.edu/~cromer/RomerDraft307.pdf