The New New Deal

The New New Deal examines President Obama's response to the 2008-2009 financial crisis through the American Recovery and Reinvestment Act (ARRA). Author Michael Grunwald, a Time journalist, explores the political battles and policy decisions that shaped this massive economic intervention. The book documents the behind-the-scenes process of crafting the stimulus package, from initial debates within Obama's transition team through Congressional negotiations. Grunwald presents extensive interviews with key players and analysis of internal documents to reconstruct how the administration approached this unprecedented economic challenge. Drawing parallels to FDR's original New Deal, Grunwald traces both the immediate crisis response and longer-term investments in areas like clean energy, education, and infrastructure. The narrative covers the fierce partisan conflicts that emerged as the administration pushed its agenda forward. At its core, this is a book about transformation - how a moment of economic crisis created opportunities for broader policy changes that aimed to reshape American society and government's role within it. The story raises fundamental questions about the relationship between short-term crisis management and long-term reform.

Readers appreciate the detailed research and reporting on the 2009 stimulus package's implementation and impact. Many note Grunwald's clear explanations of complex economic policies and behind-the-scenes political maneuvering. Positive reviews highlight: - Thorough documentation of stimulus programs and outcomes - Clear breakdown of funding allocations - Balanced coverage of successes and failures Critical reviews mention: - Pro-Obama bias in analysis - Too much focus on political process vs economic impact - Length and dense policy details Sample reader comment: "Explains exactly where the money went and what it accomplished, without getting bogged down in partisan rhetoric" - Amazon reviewer Ratings: Goodreads: 4.1/5 (682 ratings) Amazon: 4.4/5 (156 ratings) Several readers note the book helped them understand the stimulus beyond media soundbites, though some conservative readers dispute Grunwald's conclusions about the program's effectiveness.

Too Big to Fail by Andrew Ross Sorkin The definitive account of the 2008 financial crisis from Wall Street's perspective provides crucial context for understanding why the stimulus was needed.

This Time Is Different by Carmen Reinhart, Kenneth Rogoff This analysis of financial crises throughout history illuminates the patterns that made both the 2008 crash and the government response typical of major economic turning points.

The Price of Politics by Bob Woodward A detailed examination of the Obama administration's economic policy negotiations with Congress shows the political dynamics that shaped the stimulus package.

Winner-Take-All Politics by Jacob S. Hacker The book traces the policy and political changes that led to the 2008 crisis and shaped the government's response options.

The Promise by Jonathan Alter A chronicling of Obama's first year in office centers on the administration's response to the economic crisis and implementation of the stimulus package.

🔷 The Recovery Act, detailed in this book, was the largest economic stimulus package in U.S. history at $787 billion - nearly 50% larger than FDR's entire New Deal when adjusted for inflation. 🔷 Author Michael Grunwald conducted over 400 interviews during his research, including exclusive access to key White House officials and economic advisors. 🔷 The book reveals that then-Vice President Biden personally called over 100 mayors in the first month after the Recovery Act passed to ensure proper implementation. 🔷 The stimulus package included the largest clean energy investment in history - $90 billion - which helped drive the cost of solar energy down by nearly 90% in subsequent years. 🔷 While researching for the book, Grunwald discovered that the Obama administration initially considered a much smaller stimulus package of around $300 billion before economic advisors convinced them to aim higher.