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Obama Promises $ 210 Billion for Jobs

Posted on 2/14/2008 12:48:00 PM

Democrat Barack Obama has promised that if he becomes president he will spend $ 210 billion to create more jobs. It is a clever strategy that is intended to win him the support of the economically deprived section of the electorate who had, up until now, supported Hillary Clinton.

Obama's proposal consists of two programs to be implemented over a period of ten years. Out of this, the larger, using $ 150 billion to generate 5 million green jobs in the alternative energy sector, would benefit the environment.

Besides $ 60 billion have been set aside to be put into a National Infrastructure Reinvestment Bank for the construction roads, bridges, airports, and other civic facilities. According to Obama, this would raise about 2 million jobs, especially in the construction industry. "This agenda is paid for," Obama stated.

The Republican National Committee, keen on projecting him as a tax-and-spender, has an online 'Obama Spend-O-Meter' online to track his proposals. The money, Obama rationalized, would be raised from that saved by ending the war in Iraq, slashing tax breaks for corporations, imposition of the carbon pollution tax, and taxing higher income earners.

Obama, who has been criticized for lacking specific policies, requested the workers at the General Motors plant in Janesville, Wisconsin, to excuse him, saying his policy speech would be different from the stirring speeches usually associated with him. "Today I want to take it down a notch," he said. "This is going to be a speech that's a little more detailed. It's going to be a little bit longer, not as many applause lines."

As he points out often, Obama has in the past exhorted automakers to bring up the fuel economy standard. However, at the event, a day after General Motors declared the loss of $ 38.7 billion for the year 2007, he refused to mention it.

"I know that General Motors received some bad news yesterday," Obama said, adding, "I also know how much progress you've made, how many hybrids and fuel-efficient vehicles you're churning out. And I believe that if our government is there to support you, and give you the assistance you need to retool and make this transition, that this plant will be here for another hundred years."

Owing to his wins in the last weeks, Obama is in a leading position as the likely choice for the Democratic nomination. He criticized Clinton, who is now lagging far behind him. He referred to her shared vote, along with Republican candidate John McCain on the Iraq war. He drew comparisons between her and George Bush for an economic recovery plan that excluded immediate relief, but forgot to add that she was open to tax rebates.

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