Obama boost the U.S. economy with $ 50 billion

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U.S. President Barack Obama has launched a new infrastructure investment plan as part of efforts to revive the economy, writes.
Under the plan, will be invested 50 billion dollarsĀ  in roads, railways and airports, railways, high-speed trains and in creating a bank for infrastructure projects. American Infrastructure has long been considered underfunded.
The announcement comes amid signs that the U.S. economy experiencing problems.

Last week the Labor Department announced that the U.S. economy lost another 54,000 jobs, the unemployment rate climbed to 9.6% from 9.5% in July.
“Investments will not only lead to the creation of jobs now, but will ensure a good long-term course of the economy,” said U.S. President.
Obama also talked about the need to create an infrastructure bank that would focus on financing infrastructure projects of national and regional. Proposals President Obama will need congressional approval, which analysts consider uncertain amid concerns about the high level of federal deficit.
Mitch McConnell, the Senate Republican leader, said the plan “would be met with justified skepticism” that would increase taxes.
The announcement regarding infrastructure marks the beginning of a week in which U.S. President will focus on the economy, considered the most important issue for voters before the November elections.
Obama’s proposals concerning investment six years, supported by an initial amount of $ 50 billion.
White House officials suggest that the administration would consider the cancellation of tax exemptions granted to oil and gas companies to finance the plan.
According to a report by the American Society of Civil Engineers, 2.200 billion U.S. dollars would be needed for repair works related to infrastructure.

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Posted by M Cosmin on Sep 8 2010. Filed under Business, Featured News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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