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MONEY WELL SPENT?
The Truth Behind the Trillion-Dollar Stimulus, the Biggest Economic Recovery Plan in History
MICHAEL GRABELL |
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SUMMARY | EXCERPT
The American Recovery and Reinvestment Act of 2009
was an audacious gamble to hold back a second Great
Depression and dramatically remake the economy.
So, did it work?
The American Recovery and Reinvestment Act was bigger than
the Works Progress Administration, the Manhattan Project,
the Louisiana Purchase, the moon race, the Marshall Plan, and
the first seven years of the Iraq War.
Though billed as a public works program, infrastructure made
up only 10 percent of package, and some shovel-ready projects
were delayed six months to a year because of red tape involving
prevailing wages and American-made materials. Factories
touted as creating jobs making buses, windows, and solar
panels suffered layoffs and struggled to hire employees.
But the notion that the New Deal built public works while the
stimulus filled potholes isn't entirely true. From a tunnel in
San Francisco to a light-rail line in Dallas to a new Coast
Guard headquarters in Washington, D.C., generations from
now there will be countless projects that communities can
point to as the enduring legacy of the Recovery Act.
The stimulus paved and improved more than 41,000 miles of
roads, created an electric vehicle and battery industry in the
United States, and caused dozens of states to reform their
education and unemployment laws. |
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HARDCOVER
ISBN 9781610390095
Pub date: 01/31/12
Price: $28.99/33.50 Canada
6 1/8 x 9 1/4
416 pages
Economics, Politics
Selling Territory: W
Rights: Electronic, British Commonwealth, Audio: PublicAffairs
Performance rights: Writer's Representatives
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