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Saturday, December 06, 2008

Obama "We won't just throw money at the problem,"

Treasury Department officials are laying the groundwork for seeking the second half of the $700 billion financial rescue package from Congress and have approached President-elect Barack Obama's transition team in an effort to gain access to the funds, sources familiar with the matter said.
With lawmakers on both sides of the aisle expressing heated opposition to such a request, Treasury officials have come to realize that they need the president-elect's help to obtain the rescue money, the sources said.

Obama Pledges Massive Public Works Program (VIDEO)

Your Weekly Address from the President-Elect

CHICAGO — President-elect Barack Obama said Saturday he's asked his economic team for a recovery plan that saves or creates more than 2 million jobs, makes public buildings more energy-efficient and invests in the country's roads and schools.
"We won't just throw money at the problem," Obama said in his weekly radio address and Internet video. "We'll measure progress by the reforms we make and the results we achieve _ by the jobs we create, by the energy we save, by whether America is more competitive in the world."
Obama's remarks come after the Labor Department announced Friday that employers cut 533,000 jobs in November, the most in 34 years.
Obama said his plan would put millions of people to work by "making the single largest new investment in our national infrastructure since the creation of the federal highway system in the 1950s."

Obama vows Eisenhower-like infrastructure investment

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