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"I will!"- Obama Pledges 2.5m News Jobs as "US Faces Crisis of Historic Proportions"
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by Christina 123 | November 22, 2008 at 04:12 am
95 views | 12 Recommendations | 3 comments
PRESIDENT Elect Barack Obama has today been outlining US Economic Policy and warns of "a crisis of historic proportions" and unveils plans to create 2.5 million jobs.
"As US president," he announced, "I will".
Nov. 22 (Bloomberg) -- President-elect Barack Obama said he aims to create 2.5 million new U.S. jobs in a two-year plan to simulate an economy facing a “crisis of historic proportions.”
Obama, in his weekly radio address, today said that “financial markets faced more turmoil,” potentially leading to a “deflationary spiral” that may plunge the nation further into debt and cost millions more jobs. New home purchases in October were the lowest in half a century and 540,000 more jobless claims were filed last week, the highest in 18 years, he said today.
Job losses in the U.S. have totaled 1.2 million this year as the economy entered a slowdown exacerbated by the worst credit crisis in seven decades. More firings will weigh on the economy and consumer spending, putting pressure on Obama and Congress to agree on legislation that will stimulate growth.
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Most RecentMost Recommended Comments (3)
at 04:44 on November 22nd, 2008
To pledge new Jobs is nice, how does he intend to create those and will those be long term or just short term jobs. Well remunerated jobs or bordering on welfare? Words are easy and yet what counts will be the not only the action behind those words but more so the results in the long run.
at 06:20 on November 22nd, 2008
Well, it's a radio "pep talk" of course, and you note he quailfies it by saying "...by 2011".
After all, he is a politician and an attorney, you don't expect candour (i.e., it will be really miserable for millions in the coming year...")?
Plus ca change, plus c'est la meme chose.
at 08:01 on November 22nd, 2008
Dennis Kucinich had a rather progressive and pragmatic job creation plan similar to FDR's - Kucinich's is the Works Green Administration - Obama could look to his more experienced, and supposed "left leaning" comrades in the Dem Party...
instead I think Obama means he'll create new jobs with Bechtel and KBR as they set up expanded camp in Afghanistan or require more data gatherers for warrantless wiretapping...