Was that an FDR-Sized Stimulus?
Obama’s $800 Billion Bill Was Big, But It May Not Have Been a New Deal
Few people know that the federal stimulus legislation of 2009, officially known as the American Recovery and Reinvestment Act, was twice as big as the Louisiana Purchase and Marshall Plan combined. Time magazine correspondent Michael Grunwald, in his new book The New, New Deal seeks to rectify that misperception, arguing that the stimulus is transforming American life. In advance of Grunwald’s appearance at a Zócalo in Grand Park, we asked scholars and writers: will the ARRA eventually be remembered as a new “New Deal”? Why or why not?