They had something like this in the Netherlands during the 80s. Basically everyone was out of a job back then so it didn't really matter. Worst recession since 1929. Artists had to make a buch of art which was then given to the government. The state ended up with entire warehouses filled with crap.
There was also the WPA program in the USA: https://en.wikipedia.org/wiki/Works_Progress_Administration The work also included infrastructure projects, and often would create public art to decorate the infrastructure. That is why you'll see far more decorative work when looking at bridges from that era, for example.
As I've gone on to live in a few older cities, I have been surprised the number of times that I have (for example) come across a bridge or tunnel or whatnot and seen a big serif "WORKS PROGRESS ADMINISTRATION 1936" plaque on one side of it. It always feels like stepping into an alternate reality where history is more present and real.
It feels like a silly way to phrase it, but growing up where only a handful of buildings were older than 40 years, encountering history in a more banal form, like a simple bridge with some engravings, always feels more impactful than seeing some 500-year-old castle, monument or other touristy site.