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Obama proposes $210 billion for new jobs

Submitted by GreenCollar on Sunday, 16 November 2008No Comment

WASHINGTON – US President-elect Barack Obama said on November 18 that as president he would spend $210 billion to create jobs in construction and environmental industries, as he tried to win over economically struggling voters.

Obama’s investment would be over 10 years as part of two programmes. The larger is $150 billion to create 5 million so-called “green collar” jobs to develop more environmentally friendly energy sources.

Some $60 billion would go to a National Infrastructure Reinvestment Bank to rebuild highways, bridges, airports and other public projects. Obama estimated that could generate nearly 2 million jobs, many of them in the construction industry that’s been hit by the housing crisis.

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