No. But good telescopes have never been available for such reasonable prices as they are today. You can get a really good 6" reflector for only $250:
http://www.telescope.com/control/product/~category_id=dobsonians/~pcategory=telescopes/~product_id=08942
Here are a few web pages with good information on beginner's telescopes:
http://www.gaherty.ca/tme/TME0702_Buying_a_Telescope.pdf
http://www.scopereviews.com/begin.html
http://observers.org/beginner/j.r.f.beginner.html
For more advanced information, read Phil Harrington's Star Ware, 4th edition (Wiley).
You'll get the greatest value for your money with a Newtonian reflector on a Dobsonian mount, such as these:
http://www.telescope.com/control/category/~category_id=dobsonians/~pcategory=telescopes/~VIEW_INDEX=0/~VIEW_SIZE=1000000
http://www.skywatchertelescope.net/swtinc/product.php?class1=1&class2=106
Buy from a store which specializes in telescopes and astronomy, either locally or online; don't buy from department stores, discount stores or eBay as mostly what they sell is junk. Find your local astronomy club and try out different telescopes at one of their star parties:
http://www.skyandtelescope.com/community/organizations