President Obama took to the airways today to promote his economic aid plan that would provide thousands of better schools, lower electricity bills, health coverage for millions who lose insurance.
It was the latest appeal from the new president for a massive spending bill designed to inject almost $1 trillion into the economy and fulfill campaign pledges. As lawmakers consider an $825 billion plan and Obama woos them with an eye toward a second economic package, he used his first radio and Internet address from the White House to update the public about his goals.
“Our economy could fall $1 trillion short of its full capacity, which translates into more than $12,000 in lost income for a family of four. And we could lose a generation of potential, as more young Americans are forced to forgo college dreams or the chance to train for the jobs of the future,” Obama said in a five-minute address. “In short, if we do not act boldly and swiftly, a bad situation could become dramatically worse.”
Here are all the nitty gritty details of the plan:
–double within three years the amount of energy that could be produced from renewable resources. That is an ambitious goal, given the 30 years it took to reach current levels. Advisers say that could power 6 million households.
–upgrade 10,000 schools and improve learning for about 5 million students.
–save $2 billion a year by making federal buildings energy efficient.
–triple the number of undergraduate and graduate fellowships in science.
–tighten security at 90 major ports.
–put heavy emphasis on public works projects, which have lagged as state budgets contracted.
–provide health care coverage for 8.5 million people who lose their insurance when they either lose or shift jobs.
And how much would get spent immediately, you ask?
The plan would spend at least 75 percent of the total cost — or more than $600 billion — within the first 18 months, either through bricks-and-shovels projects favored by Democrats or tax cuts that Republicans have pushed.
We will let you know how it all unfolds over the weeks to come!!
[image: WENN]
