Obama Economic Plan Aims for 2.5M New Jobs by 2011 (Weekly Address)

Source: Assocaiated Press

Obama economic plan aims for 2.5M new jobs by 2011

By WILL LESTER, Associated Press Writer – 15 mins ago

WASHINGTON – President-elect Barack Obama promoted an economic plan Saturday he said would create 2.5 million jobs by rebuilding roads and bridges and modernizing schools while developing alternative energy sources and more efficient cars. "These aren't just steps to pull ourselves out of this immediate crisis. These are the long-term investments in our economic future that have been ignored for far too long," Obama said in the weekly Democratic radio address.

The goal is to get the plan quickly through Congress, with help from both parties, after Obama takes office Jan. 20. The plan, which envisions those new jobs by January 2011, is "big enough to meet the challenges we face," he said.

Obama noted the growing evidence the country is "facing an economic crisis of historic proportions" and said he was pleased Congress passed an extension of unemployment benefits this past week. But, he added, `We must do more to put people back to work and get our economy moving again." Nonetheless, he said, "There are no quick or easy fixes to this crisis, which has been many years in the making, and it's likely to get worse before it gets better."

It will take support from Democrats and Republicans to pass the economic plan, Obama said. "I'll be welcome to ideas and suggestions from both sides of the aisle," he said. "But what is not negotiable is the need for immediate action." People "are lying awake at night wondering if next week's paycheck will cover next month's bills," if their jobs will remain, if their retirement savings will disappear, he added.

Read more: http://news.yahoo.com/s/ap/20081122/ap_on_go_pr_wh/obam...