How the $800B stimulus failed - NYPOST.com: Vice President Joe Biden was eager to get moving. In office for only a month, the Obama administration had already passed a monumental economic stimulus plan to address the biggest downturn since the Great Depression.
Now, at the first implementation meeting in 2009, Biden — with a smudged Ash Wednesday cross still on his forehead — declared that the stimulus would “literally drop kick us out of the recession.”
Officially called the American Recovery and Reinvestment Act, the $800 billion stimulus was the largest economic recovery program in history. Adjusted for inflation, it was nearly five times more expensive than the Works Progress Administration. It was bigger than the Louisiana Purchase, the Manhattan Project, the moon race and the Marshall Plan.
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