Even if a stimulus package temporarily reduced unemployment, in this theory, it would be entirely ineffective over the long haul.

就这个理论而言，即使财政刺激计划暂时减少了失业率，在长期来看也会完全失效。

youdao

At the same time, almost one-third of the stimulus was devoted to tax cuts, which Keynesian economics correctly predicted would be relatively ineffective.

与此同时，刺激方案中差不多三分之一是致力于减税的。而根据凯恩斯主义经济学的正确判断，相对而言，减税对经济的刺激效果不大。

youdao

Fathom argues that the higher the ratio of government debt to GDP, the more likely it is that a stimulus will be ineffective and that Ricardian equivalence will apply.

ECONOMIST: The dilemmas facing policymakers