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The New New Deal: The Hidden Story of Change in the Obama Era [Kindle Edition]

Michael Grunwald
4.3 out of 5 stars  See all reviews (113 customer reviews)

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Kindle Price: $12.99
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Book Description

In a riveting account based on new documents and interviews with more than 400 sources on both sides of the aisle, award-winning reporter Michael Grunwald reveals the vivid story behind President Obama’s $800 billion stimulus bill, one of the most important and least understood pieces of legislation in the history of the country. Grunwald’s meticulous reporting shows how the stimulus, though reviled on the right and the left, helped prevent a depression while jump-starting the president’s agenda for lasting change. As ambitious and far-reaching as FDR’s New Deal, the Recovery Act is a down payment on the nation’s economic and environmental future, the purest distillation of change in the Obama era.

The stimulus has launched a transition to a clean-energy economy, doubled our renewable power, and financed unprecedented investments in energy efficiency, a smarter grid, electric cars, advanced biofuels, and green manufacturing. It is computerizing America’s pen-and-paper medical system. Its Race to the Top is the boldest education reform in U.S. history. It has put in place the biggest middle-class tax cuts in a generation, the largest research investments ever, and the most extensive infrastructure investments since Eisenhower’s interstate highway system. It includes the largest expansion of antipoverty programs since the Great Society, lifting millions of Americans above the poverty line, reducing homelessness, and modernizing unemployment insurance. Like the first New Deal, Obama’s stimulus has created legacies that last: the world’s largest wind and solar projects, a new battery industry, a fledgling high-speed rail network, and the world’s highest-speed Internet network.

Michael Grunwald goes behind the scenes—sitting in on cabinet meetings, as well as recounting the secret strategy sessions where Republicans devised their resistance to Obama—to show how the stimulus was born, how it fueled a resurgence on the right, and how it is changing America. The New New Deal shatters the conventional Washington narrative and it will redefine the way Obama’s first term is perceived.


Editorial Reviews

Review

“One of the year’s deepest books” —Politico

“A must-read book” —PoliticalWire.com

“There’s plenty here for everyone to get aflutter about all over again in this riveting account of President Obama's stimulus bill. Grunwald, a Time magazine senior correspondent, provides captivating background history on the stimulus and how it may prove to be a far greater deal than the one FDR famously launched.” —Chicago Tribune

"The New New Deal is the most interesting book that has been published about the Obama administration. Even Republicans should read it." (The Economist)

“Mammoth in scope. . . . Throughout, Grunwald keeps his tone snappy and readable, while consistently grounding the political story of the Recovery Act in its real impact on everyday Americans. The result is an impressive book about the startling gap between facts and media spin.” —Publishers Weekly

“A cogent reality check of President Obama’s Recovery Act. . . . A pointed, in-the-trenches study whose thrust will be borne out with time.” —Kirkus Reviews

“Michael Grunwald is one of our generation's most original and tireless journalists—a reporter who is allergic to received wisdom, a writer with an uncommon talent for illuminating hidden truths. So it is a delight, but not a surprise, that The New New Deal demolishes clichés and vividly reframes our thinking about President Obama and his stimulus package through a gripping narrative. Even if everyone doesn't agree with Grunwald's provocative conclusions, every serious reader will see in Grunwald’s book a vindication of serious journalism, at a time when we need it.”
John Harris, Politico

About the Author

Michael Grunwald is a Time senior correspondent. He has won the George Polk Award for national reporting, the Worth Bingham Award for investigative reporting, and many other prizes. The Washington Post called his first book, The Swamp, “a brilliant work of research and reportage,” and The New York Times called him “a terrific writer.” He lives in Florida.

Product Details

  • File Size: 19722 KB
  • Print Length: 530 pages
  • Page Numbers Source ISBN: 1451642326
  • Publisher: Simon & Schuster; Reprint edition (August 14, 2012)
  • Sold by: Simon and Schuster Digital Sales Inc
  • Language: English
  • ASIN: B006JDFJO4
  • Text-to-Speech: Not enabled
  • X-Ray:
  • Word Wise: Enabled
  • Lending: Not Enabled
  • Amazon Best Sellers Rank: #365,375 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

4.3 out of 5 stars
(113)
4.3 out of 5 stars
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Most Helpful Customer Reviews
231 of 253 people found the following review helpful
5.0 out of 5 stars Stimulus Revised August 14, 2012
Format:Hardcover|Verified Purchase
The political parties disagree about whether the Recovery Act of 2009 has succeeded. This is based on deeper philosophical differences as to the preferred role of government in the economy as well as the historical effectiveness of FDR's New Deal in moderating the effects of the Great Depression. Author Mike Grunwald suggests that while reasonable people continue to debate the Recovery Act, they ought first "to hear the real story of what was in it, how it got there and how it got translated into action." To achieve this, Grunwald conducted interviews with more than 400 sources and utilized government documents as well as contemporary reporting.

In 3 sections, Grunwald covers the developing economic crisis, the passage of the bill over Republican opposition and the Recovery Act in action. He reminds us that as Obama entered office, credit was frozen, consumer confidence was at its lowest ever recorded level and the economy was shrinking at a rate of 8.9%. Within 30 days, the new administration passed an 1073 page, $787 billion dollar economy stimulus bill. Grunwald tells us that the Act was the biggest and most transformative energy bill in US history, the biggest foray into industrial policy since FDR and contained the largest middle class tax reduction since Reagan. The bill also delivered the largest infusion of research money ever, was the first modern spending bill without earmarks and required of itself unprecedented transparency and oversight. While the Administration was trying to address the needs of an economy in desperate straits, it also designed the bill to deliver on 3 of the key promises of Candidate Obama: reducing oil dependency, improving health care and upgrading education.
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110 of 130 people found the following review helpful
5.0 out of 5 stars Imperfect, but a good read August 19, 2012
Format:Hardcover|Verified Purchase
Although I know that economists generally consider the stimulus to have been a success, and that it's considered one of the most transparent government programs ever, I've never been particularly familiar with the details outside of the HITECH Act. As such, I was looking forward to getting started on this book.

Reading the introduction made me excited about seeing what will be accomplished from the reinvestment part of the Act. It's the first time I heard about the ARPA-E agency, Obama's mini-Manhatten Project, designed to invest in high-risk, high-reward energy research. And while the size of the Act - half what economists said at the time was required, with much of it devoted to tax cuts - was a disappointment, the sheer reach is mind-boggling: investments in transportation infrastructure, investments in research, investments in healthcare, investments in energy. Reading this chapter left me wanting more, wanting to know the details behind each of these ambitious programs.

Chapter one takes a step back and looks at what Obama wanted to accomplish with the bill, what his priorities were and the values that the stimulus represented. Then in chapter two, we get what the author calls the four pillars of the stimulus. Energy: how can we reduce our energy use and our carbon footprint without reducing our standard of living? Health care: how can we prevent the explosion in health costs that were on track to take up a full third of the economy by 2040, and improve the quality of care? Education: could we reach the goals that No Child Left Behind set out, but dismally failed to reach?
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129 of 159 people found the following review helpful
Format:Hardcover
*****
"The New Deal's vast legacies are still with us, and so, too, are the questions it provoked. 'Was it a success or failure? The plot of a dictator? A paragon of progressive government or a harbinger of oppressive federal interference in American life?' Hiltzik asks." -- Richard Rayner, LA Times
*

In an absorbing account based on interviews with hundreds of sources on both sides of the debate, and newly revealed documents, Michael Grunwald, an award-winning reporter explores the least understood story behind President Obama's bill, comparing it with FDR's New Deal. The $800 billion, most controversial bill, is one of the most polarizing and least analyzed pieces of legislation in recent American history. Grunwald articulates a compelling study, based on serious investigative reporting, which shows how the 'American Recovery and Reinvestment Act', aka the stimulus, helped prevent a disastrous depression.

Officially, the $800 billion stimulus act was the largest economic recovery program in history. Adjusted for inflation, it is nearly five times the Works Progress Administration, and was bigger than the Marshall Plan. Economists and nonpartisan forecasting firms estimate that the stimulus created and saved more than 2 million jobs, short of the catastrophic job loss in 2008/9. It generated an unprecedented buzz around clean energy. Experts estimated the 'Stimulus' to amount to 3-4 times the one approved, extending on 2-3 five year plans, including the long neglected infra structure and utilities.

As ambitious and far-reaching as FDR's New Deal, the Stimulus is positively regarded by top economists as a down payment on the nation's economic recovery and environmental future.
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Most Recent Customer Reviews
3.0 out of 5 stars Three Stars
OK
Published 16 days ago by Richard L. Smith Jr.
1.0 out of 5 stars The title of David Mamet's Rolling Stone article says it all about...
Here is all you need to know about this bit of partisan cheerleading: http://www.claremont.org/article/the-same-old-deal/#.VTfIXSivL4Y
Published 1 month ago by Kevin B. Atkins
5.0 out of 5 stars Should be required reading for Nay Sayers
Then again I am the choir that has been preached to. If only the nay Sayers would give up their ingrained prejudice and read this well laid out and notated narrative maybe they... Read more
Published 1 month ago by Eric Andersen
5.0 out of 5 stars Informative history. A must read for those interested in the Obama...
Everyone should read it. Very informative. When historians want to study the Obama Era this should be one of the first books they read. Read more
Published 6 months ago by Cameron W. Glenn
5.0 out of 5 stars Five Stars
EXCELLENT and insightful examination of this important policy developments from the stimulus! Congrats to Mr. Grunwald.
Published 6 months ago by Sandy Stewart
5.0 out of 5 stars The Stimulus was far more successful than we were led to believe...
An explanation of the American Recovery & Reinvestment Act ("The Stimulus,") the circumstances that made it necessary, how it was crafted & implemented and why it... Read more
Published 7 months ago by CarolC
5.0 out of 5 stars Five Stars
Product was satisfactory in every way
Published 8 months ago by James N.
5.0 out of 5 stars Exposure of the war on America
Extremely well done. It is most unfortunate that very little of this information was presented by the corporate news media. Read more
Published 11 months ago by Tim Kauffman
4.0 out of 5 stars Very informative book
This book in very informative. I learned a lot about where we spent the stimulus money and the benefit of the program.
Published 11 months ago by Jeff
5.0 out of 5 stars the new new deal by michael grunwald
a refreshing and reasonably objective version and account of what really happened with the stimulas. Read more
Published 13 months ago by Spanish Seeker
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