THE TELEGRAPH: President Barack Obama yesterday unveiled a $50 billion plan to expand and renew roads, railways and airports in a late bid to boost confidence in the economy and prevent the Democratic Party from suffering a landslide defeat in forthcoming polls.
The plan was one of several economic initiatives Mr Obama was due to unveil this week, when campaigning begins in earnest for the Nov 2 midterm elections.
Speaking in Wisconsin on the Labour Day holiday, which marks the end of summer in the United States, President Obama proposed building 150,000 miles of roads, constructing and maintaining 4,000 miles of rail and rehabilitating 150 miles of runway, as well as modernising the air traffic control system.
He also proposed setting up an infrastructure bank to coordinate private, state and local capital to invest in projects.
A senior administration official said the American President's goal was to "create a substantial number of jobs in the short turn [sic] and lay the foundation for jobs growth in the long run".
The plan, which needs the approval of Congress, would spend $50 billion (£32 billion) in the first of its six years, and would be paid for by ending tax breaks for oil companies, the official said. Obama unveils $50 billion roads, rail and air plan to win votes >>> Alex Spillius in Washington | Monday, September 06, 2010
ZEIT ONLINE: Obama will mit weiteren Milliarden Aufschwung sichern: Die US-Wirtschaft kommt nicht auf die Beine. Präsident Obama plant daher erneut ein gigantisches Konjunkturprogramm – zumal seine Demokraten ein Wahldebakel fürchten. >>> Zeit Online, Reuters, AFP | Montag, 06. September 2010
