Source: CCTV.com

11-23-2008 14:15

With the latest from the Labor Department offering yet more evidence of a plunge into recession. The number of Americans on unemployment aid now stands at its highest level in 16 years, with another 540 thousand people losing their jobs. But speaking in response on Saturday, President-elect, Barack Obama, proposed an aggressive, two-year stimulus plan to revive the troubled economy.

President-elect, Barack Obama(File photo)

Obama said, "I have already directed my economic team to come up with an economic recovery plan that will mean 2.5 million more jobs by January of 2011. A plan big enough to meet the challenges we face that I intend to sign soon after talking office. We'll be working out the details in the weeks ahead but it will be a two-year nationwide effort to jump-start job creation in America and lay the foundation for a strong and growing economy."

The United States faces an economic crisis of historic proportions. Obama's bold two-year stimulus plan would be a sizeable effort. The package is expected to include tax cuts for the middle class and billions of dollars for public works projects, such as road, bridge, and mass transit construction.

 

Editor:Yang Jie