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Obama Widens Goals, Now Wants 3M Jobs

Recovery plans grow as advisers predict 9% unemployment

By Wesley Oliver,  Newser Staff

Posted Dec 20, 2008 5:37 PM CST
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(Newser) – Barack Obama is expanding his plans to reverse the nation’s financial crisis and will seek to create 3 million jobs in the next two years, up from the goal of 2.5 million he proposed last month, the New York Times reports. The new figure follows a meeting in which economic experts predicted a loss of 4 million jobs next year and an unemployment rate of 9%. Obama's proposed stimulus package calls for up to $775 billion in spending, but a growing chorus of experts says even that's not enough.

A top Obama aide predicted the downturn will be “more severe than anything we’ve experienced in the past half-century.” Obama encouraged advisers to develop “bolder” solutions, which will include creating jobs for the unemployed, tax relief for low-wage and middle-income workers, and revitalizing the nation’s infrastructure. But a major problem could be finding enough projects to finance, a source said.

Barack Obama plans to revitalize the nation's economy include construction work on roads and mass transit projects.
Barack Obama plans to revitalize the nation's economy include construction work on roads and mass transit projects.   (AP Photo/Eric Gay)
President-elect Barack Obama is expanding his economic recovery plan and will seek to create 3 million jobs in the next two years, up from a goal of 2.5 million jobs set just last month.
President-elect Barack Obama is expanding his economic recovery plan and will seek to create 3 million jobs in the next two years, up from a goal of 2.5 million jobs set just last month.   (AP Photo/Charles Dharapak)
President-elect Barack Obama is expanding his economic recovery plan and will seek to create 3 million jobs in the next two years, up from a goal of 2.5 million jobs set just last month.
President-elect Barack Obama is expanding his economic recovery plan and will seek to create 3 million jobs in the next two years, up from a goal of 2.5 million jobs set just last month.   (AP Photo)
President-elect Barack Obama gestures during a news conference in Chicago, Thursday, Dec. 11, 2008.
President-elect Barack Obama gestures during a news conference in Chicago, Thursday, Dec. 11, 2008.   (AP Photo/Charles Dharapak)
Christina Romer, Barack Obama's choice to lead his Council of Economic Advisers, said the current downturn is likely to be more severe than anything we've experienced in the past half-century.
Christina Romer, Barack Obama's choice to lead his Council of Economic Advisers, said the current downturn is likely to be "more severe than anything we've experienced in the past half-century."   (AP Photo/Charles Dharapak)
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COMMENTS
Showing 3 of 3 comments
Zebraone
Dec 21, 2008 6:26 AM CST
How about a REAL unemployment figure of 15%!!~~~~~~Do you really believe the gummint's numbers? ~~~~If you do, you're dumber than the jug eared "next president"
Guest
Dec 20, 2008 10:34 PM CST
Feragola, you think we haven't endure 8 year of BS? If so, where in the H-- have you been?
Guest
Dec 20, 2008 9:00 PM CST
This is gonna be like ol' Clinton's 100,000 Cops on the street plan. He said, yea, it's a good plan, then told municipalities, "Hey go ahead and hire 100,000 Cops". After 3 years the money ran out and Clinton had no plans of replacing the funding. Worse yet, his 100k figure was more like 10k, but it didn't stop him from fraudulently proclaiming that he did put 100k on the streets. We will just have to endure 4 years of BS and then we can move on when people realize what a mistake they made.

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Barack Obama • Congress • Martin Feldstein • economic stimulus package • Larry Summers • economy • job • Christina Romer

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