Obama Revises Job Plan

January 12. 2009

President-elect Barack Obama has revised his economic plan for a second time, with the news that more jobs were lost in the U.S. economy. The current tally for 2008 is 2.6 million jobs lost.

Obama is now stating what I have believed and written about as well, America is facing a depression if the current crisis is not halted.

America's two main problems are:

1.) Overspending on the war in Iraq and wasteful government spending within the United States government

2.) A corporate sector rife with individuals committing financial crimes.

There is a great deal of cowardice among the Bush administration, FBI, SEC and Congress, in their unwillingness to lock up wrongdoers in a timely fashion, who refuse to follow the law in corporate America. They are the source of your problem and the staggering amount of suffering that has befallen the nation.

'We face deep depression unless we act soon' - Obama urges Congress to pass '$775bn' rescue package

Barack Obama has warned America could remain mired in recession for years without bold action in his first speech since being elected.

The President-Elect warned of dire and lasting consequences if Congress doesn't pump unprecedented dollars into the U.S. economy.

His speech - which doubled up as an urgent pitch for his mammoth spending proposal - said an 'irresponsible era' had led to the current crisis but was optimistic it was not to late to change things.

http://www.dailymail.co.uk

Obama pledges to create 3.5m new jobs as America suffers worst year of unemployment since 1945

Barack Obama aims to create at least 3million more jobs as part of his $775billion economic stimulus package

President-elect Barack Obama's economic team has announced its goal to create 3.5million new jobs in America to help boost a troubled economy.

It comes after figures showed that the U.S. shed 17,000 jobs a day in December to cap off a year that saw 2.6million driven out of work in its worst unemployment blight since the end of the Second World War.

A report released by Mr Obama's team claims that a $775 billion economic stimulus package, that the president-elect is proposing, would create well more than the 3million jobs.

But his top advisers said the plan was subject 'to significant margins of error' because of the uncertainties of economic modeling and no one - including his own economists - knew what version of his plan Congress would pursue.

http://www.dailymail.co.uk