The US economy grew at a vigorous rate from 1934 to 1936, 11%, 9% and 13.9%. When stimulus spending was cut by 60% and the Fed tightened things up after the 1936 election, the country fell back, in 1937-1938.
Summary:
1) 3 years of stimulus ('34-'36) was not enough.
2) GNP loses in the Depression were more severe than recent loses (20% to 4%).
3) Current unemployment might be three quarters as bad as it was at the peak of the Depression.
We spend 2.4% of GDP on infrastructure, Europe and India 5-6%, China 9%. We have a 15 trillion dollar economy , we need to spend 750 billion the first yr of a infrastructure plan. We need to spend another 5% of GDP on job stim.
Total: 10% of GDP for 5 years.
Expanding Americas Energy Portfolio
An initial goal of 20% in 20yrs each for solar and wind, plus building the HVDC supergrid are important sectors, not just because its energy policy that effects carbon emissions, these areas are labor intensive, and generally pay very good wages, 40k to 75k, a 20% in 20 yrs goal creates long term jobs since we're talking about emerging tech and markets, not sunset markets.
Good paying jobs like I mention tend to support better secondary job creation than lower paying job creation, so job stim spending in renewables are dollars that tend to stay in the US.
A dollar spent in 1936 stayed in the US, thats no longer true, so sectors that give us a better multiplier are to be relished and developed with vigor.
Potential Job Creation broken down by sector
What exactly is the HVDC Supergrid?