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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Obama Offers Job-Creation Plan

President-elect Barack Obama started his weekly address out with some bad news: turmoil in financial markets, new-home sales at a 50-year low, higher jobless claims, the specter of deflation.

He then outlined a plan that he says would create 2.5 million jobs by January 2011. " We'll put people back to work rebuilding our crumbling roads and bridges, modernizing schools that are failing our children, and building wind farms and solar panels; fuel-efficient cars and the alternative energy technologies that can free us from our dependence on foreign oil and keep our economy competitive in the years ahead," he said.

Obama called the plan an "early down payment" on the change his administration will bring to Washington and emphasized that he will need support from both sides of the aisle to make it work. He said he and his economic team would be working out details in weeks to come.

--Terri Rupar

By Terri Rupar  |  November 22, 2008; 12:38 PM ET
Categories:  The Ticker  | Tags: Obama  
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Comments

I applaud the President-elect's plan to create more jobs by focusing on public projects. It rings more true with me than throwing money around in bail-out packages. But I am confused about the energy tie-in. I am a huge proponent of alternate sources of energy and developing wind and solar energy to supplement and ultimately replace base load energy that produces greenhouse gases (coal power). However, while I realize that there is some small percentage of energy from oil used for power generation, the vast majority of our dependence on oil originates from our transportation needs. How exactly does building wind farms and solar power plants alleviate that dependency? His beginning is sound, however his energy policy needs to be developed/expanded to provide viable energy sources for transportation as well as to supplement base load energy.

Posted by: Qank | November 22, 2008 1:41 PM | Report abuse

For a quick hit here -- seeing how the fiscal side is going to be paramount -- Congress could back all the states up on their deficits from the word go. It's not a lot of money on the scale we're talking about, and it has all kinds of benefits, including that it maintains programs that are already up and running -- no prior paperwork and planning needed to hit the road with the clutch engaged. Otherwise we are going to see a lot of reasonably good programs curtailed all across the country, with a whole bunch of ensuing chaos that nobody really needs. Just saying here - back up the states, get your dollar's worth on day one. Don't criticize it - Federalize it, mon.

Posted by: pressF1 | November 22, 2008 1:48 PM | Report abuse

Yeah, and your little pipeline too.

Posted by: pressF1 | November 22, 2008 1:49 PM | Report abuse

I believe that for America's real oil independence to begin, we must first have the "end-user" tools available. That is what President-elect Obama is saying by allowing for the delay for the re-tooling of the "Big 3".

Until hybrid an electric cars (which can be charged from alternative sources like wind mills and solar panels) are easily available and more affordable, the public will largely ignore them. Who has the money, or the time, to wait 6 months to have a new car that cost $5000 more than its closest competitor delivered?

And a LOT of pollution comes from coal fired power plants that run our homes and businesses. Alternative energy could cut out nearly a third of that pollution in 15 years.

Posted by: poeticthevail | November 22, 2008 1:53 PM | Report abuse

most of the jobs he will create are of the minimum wage type,where the real livable wages are not,these jobs he plans to create are green jobs,you wont be able to raise a family on these wages.

Posted by: Lwebb121 | November 22, 2008 1:58 PM | Report abuse

And where does all this money Obama plans to spend come from? We already have a $700 billion bailout (in real terms more than $4 tril), the money for the last "economic stimulus" was borrowed, Obama wants another one of those, too.

This guy is going to bankrupt the country and open it up for attack economically, and after that, militarily.

Posted by: scorekeepn | November 22, 2008 2:05 PM | Report abuse

this new administration [while not in office} has stumbled allready,they will have to go a lon way to get my trust,so far i dont trust them allready.they are still using "Blackberrys which are classified as a security risk and have been breeched any information recieved or going out is a problem.they need to use encrypted phones and apparently the new dummies dont know that yet.

Posted by: Lwebb121 | November 22, 2008 2:07 PM | Report abuse

Back to qank's question on oil dependence, I believe their thinking is that in order to take on oil dependence and global warming at the same time, we can't just put a few million plug-in hybrid electric cars on a grid that is 50% coal -- not and come away with carbon emissions reductions. So, while for decades all the renewable industries have somewhat disingenuously talked about choosing them to reduce oil dependence, now that many believe that our transportation system will ultimately run on electricity instead of fossil fuels, more renewable generation will actually reduce oil dependence in the long run.

Posted by: davehamilton | November 22, 2008 2:07 PM | Report abuse

check the records,there is not that much pollution from the coal-use powerplants any longer they have used modern methods to cut out a lot of that.some factories and papermills produce more pollution tyhan the power-plants.remember 49% of the countries electric comes from coal,i trust coal way more than nuclear,to many chances of a meltdown with nuclear,i worked with nuclear systems before and they are dangerous at best.

Posted by: Lwebb121 | November 22, 2008 2:18 PM | Report abuse

this new administration bears watching,they have assembled Re-gurgitated " retreads from the clinton era.and at least a third of those were replaced with other retreads at some point early on in the first years. the main problem i see with this bunch is security,they cant keep their mouth shut on sensitive information,"blackberrys do not belong in government,to much information can be pulled from them.they are not encrypted for gov use.these dummies need to understand that!NOW' before they are in office.

Posted by: Lwebb121 | November 22, 2008 2:30 PM | Report abuse

I will make it a point to give the new administrstion a year in office before i start climbing all over them,any little miscue and i will jump!on this issue i am not by myself,there are lots of others just like me that dont like them to start with,but want to be fair and give them one chance.tomake good or get kicked out.

Posted by: Lwebb121 | November 22, 2008 2:38 PM | Report abuse

why is it that O"cant pass a security background check?[there is problems with that] and something came up with"selective service,a problem there also. and a problem with his computer-generated birth certificate."what kind of mess have we gotten ourselves into here? O" does not have evidence that he actually exists.and we voted him in as president are we actually a stupid country,easly decieved? it remains to be seen.and "God i hope not,for our childrens sake.they will be saddled with all we leave behind.

Posted by: Lwebb121 | November 22, 2008 2:56 PM | Report abuse

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