Hussein Obama Goes On Another Spending Spree On Taxpayers’ Dollars
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

Americans Elected Obama into Office; Now Americans Are Going to Have to Pay the Price!
TIMESONLINE: The US economic crisis will deepen next year, Barack Obama warned the country yesterday when he announced the first details of a stimulus package that could ultimately exceed $1 trillion.

The President-elect, giving the most extensive interview since winning the election a month ago, spoke the day after he announced the biggest public works construction programme since Dwight Eisenhower created the interstate highway system half a century ago.

In saying twice that “things are going to get worse before they get better”, Mr Obama was not simply reflecting the realities of the stricken US economy but seeking to gain political advantage from the financial crisis.

By talking up the scale of the recession, the President-elect was lowering expectations for what he can achieve next year while seeking to justify what will, in effect, be the greatest injection of federal money into the US economy since the Depression-era New Deal.

The economic crisis is so great that Mr Obama and his economic team now believe that nothing less than a giant stimulus package is needed. The depth of the worsening recession has presented him with an extraordinary mandate to throw hundreds of billions of dollars at the problem – an opportunity that he did not have even a few weeks ago – and with it the chance to fund much of his hugely expensive legislative agenda.

The economic conditions – combined with a Democratic-controlled Congress – mean that Mr Obama is perhaps the most powerful incoming President, in terms of the ability to pass legislation quickly, since Lyndon Johnson took office in 1963. Barack Obama Reveals Stimulus Package that Could Exceed $1 Trillion >>> Tim Reid in Washington | December 8, 2008

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