Expected Results

If you have balance sheet problems, that is, if you have too much debt, your financial life isn't going to improve until you pay off some debt. Borrowing more won't help.

Our current recession/depression is a balance sheet recession. People, companies and nations have too much debt. National governments have responded with still more borrowing and spending with predictable results. Dig these charts from Vox comparing the current recession with the Great Depression.

Budget deficits across the globe

We are borrowing and spending at a much faster rate than in the 1930s...

Industrial output

... with nothing to show for it.
That's pretty much what you'd expect if your problem was too much debt.

Here's the rest of the essay. It has a lot more information and is worth a read.