It's a great idea. My grandfather participated in the CCC and was always proud of the projects he helped create. But we are a different country now than we were then. We are a corporate society and corporations won't approve an increase in their own taxes, nor would they spend their own money to help improve any infrastructure.
We also have become a society convinced that manual labor is beneath us, and anyone who does work with their hands must not be as intelligent or worthy. It would be difficult to get as many willing participants in this day and age.
That's how I see it, anyhow.