Which Was Bigger: The 2009 Recovery Act or FDR's New Deal?
May 30, 2017
Total Cost
Assistant Vice President and Economist William Dupor noted that ARRA’s total cost was $840 billion. The New Deal, on the other hand, cost $41.7 billion at the time, according to a 2015 study by economists Price Fishback and Valentina Kachanovskaya.1 That figure translates to $653 billion in 2009 dollars (the year ARRA was passed).
“Without any other adjustment, one would conclude that the Recovery Act was the more expensive of the two stimulus programs, which also would make it the most expensive in U.S. history,” Dupor wrote.
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The 2 covid bills, the infrastructure bill, and the reconciliation bill will all cost at least twice what the inflation-adjusted New Deal did. In addition, there was another covid bill in Dec, 2020, which was over $900B. Those are our 5 biggest spending bills ever, in a span of 18 months, or whenever reconciliation passes.
That's a fuckload of money. |
