Barack Obama pledges massive infrastructure works

Barack Obama promised today on his YouTube/radio address to implement a public works program unseen since the federal highway system was built in the 1950s.

Obama's pledge comes after bleak unemployment figures were released for November, the worse since 1974.

The new plan would include spending on roads, bridges, schools, sewer systems, mass transit, electric grids, dams and other public utilities. He also promised to improve schools, expand broadband coverage, make government buildings more energy efficient and improve information technology at medical facilities.

Estimates of costs for the plan have ranged from about $400 billion to more than $1 trillion. As Obama has been less committal on rolling back the Bush tax cuts for the wealthy, we have to assume that the program will be funded through deficit spending.

CBS News
Obama Pledges Public Works on a Vast Scale
New York Times, United States - 2 hours ago
By PETER BAKER and JOHN M. BRODER WASHINGTON — President-elect Barack Obama committed Saturday to the largest public works construction program since the ...

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