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Obama to Spur Economy With Infrastructure Investment (Update3)

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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 11:30 AM
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Obama to Spur Economy With Infrastructure Investment (Update3)

Obama to Spur Economy With Infrastructure Investment (Update3)

By Edwin Chen and Julianna Goldman

Dec. 8 (Bloomberg) -- President-elect Barack Obama is focusing his economic recovery strategy on making the biggest investment in the nations infrastructure since President Dwight D. Eisenhower created the interstate highway system a half- century ago.

Speaking yesterday at a Chicago news conference and on NBCs Meet the Press, Obama said state governors have many such projects that are shovel ready, meaning they could be undertaken swiftly and have an immediate impact on jobs.

He declined to specify a price tag for the stimulus, saying his advisers are busy working, crunching the numbers, looking at the macroeconomic data to make a determination as to what the size and the scope of the economic recovery plan needs to be. But it is going to be substantial.

<...>

He also indicated that proposals -- which could include updating health care administration and public schools -- would be reviewed as part of his broader plan.

Earlier, on NBC, Obama said the U.S. recession will worsen before a recovery takes hold and that he will offer a plan to boost the economy equal to the task.

more


President-elect Barack Obama lays out key parts of Economic Recovery Plan:

<...>

But we need action and action now. That is why I have asked my economic team to develop an economic recovery plan for both Wall Street and Main Street that will help save or create at least two and a half million jobs, while rebuilding our infrastructure, improving our schools, reducing our dependence on oil, and saving billions of dollars.

We wont do it the old Washington way. We wont just throw money at the problem. Well measure progress by the reforms we make and the results we achieve -- by the jobs we create, by the energy we save, by whether America is more competitive in the world.

Today, I am announcing a few key parts of my plan. First, we will launch a massive effort to make public buildings more energy-efficient. Our government now pays the highest energy bill in the world. We need to change that. We need to upgrade our federal buildings by replacing old heating systems and installing efficient light bulbs. That wont just save you, the American taxpayer, billions of dollars each year. It will put people back to work.

Second, we will create millions of jobs by making the single largest new investment in our national infrastructure since the creation of the federal highway system in the 1950s. Well invest your precious tax dollars in new and smarter ways, and well set a simple rule use it or lose it. If a state doesnt act quickly to invest in roads and bridges in their communities, theyll lose the money.

Third, my economic recovery plan will launch the most sweeping effort to modernize and upgrade school buildings that this country has ever seen. We will repair broken schools, make them energy-efficient, and put new computers in our classrooms. Because to help our children compete in a 21st century economy, we need to send them to 21st century schools.

more


In Congress:

High Speed Rail coming to America - Kerry introduces landmark bill

Video: John Kerry On High Speed Rail, Cambridge Town Hall

Ted Kennedy Drops Judiciary Post to Focus on Health Reform





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politicasista Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 01:03 PM
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1. Interesting
Check your pm. :hi:
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SuperTrouper Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 01:04 PM
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2. Agreee! revamp the railroad system...new bridges, new rail, new jobs
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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 01:43 PM
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3. "Absolutely Confident" We Can Get Economy Back On Track
Edited on Mon Dec-08-08 01:43 PM by ProSense

"Absolutely Confident" We Can Get Economy Back On Track

by Jed L
Mon Dec 08, 2008

During his Sunday press conference announcing the appointment of Eric Shinseki to the cabinet, President-elect Obama reaffirmed his concern that the economy could deteriorate in the next few months.

But despite the headlines, he wasn't all doom and gloom. Obama also expressed his optimism that his plan for the largest public investment in our nation's infrastructure since the 1950s would work, saying he was "absolutely confident" that it would get the economy back on track.

(Video: 'Absolutely Confident' We Can Get Economy Back On Track)

Just six more weeks until he's president. It can't come soon enough.


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