Economists point out that this obviously won't be like Franklin Roosevelt's Depression-era program that allowed virtually anyone with the strength to wield a shovel to join a construction crew or move to a work camp.

CNN: Will infrastructure stimulus create jobs?

In 2002, the U.S. launched its Nuclear Power 2010 program, an initiative by the government and the private sector to encourage the construction of more plants, though that effort has been slowed somewhat by regulatory issues.

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Ms. Quinn's plan to build 40, 000 new middle-income apartments would be the largest such housing construction program since the Mitchell-Lama program was created in 1955 to provide affordable rental and cooperative housing to moderate- and middle-income families.

WSJ: Quinn Address Aims at Middle Class