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Monday, September 06, 2010

Obama to Propose $50 Billion in Infrastructure Spending

by Calculated Risk on 9/06/2010 12:06:00 PM

From the NY Times: Obama to Call for $50 Billion Spending on Public Works

President Obama on Monday is to call for as much as $50 billion in government spending to start up a long-term public works plan emphasizing transportation projects – roads, rail and airport runways – over the next six years.
The spending is one part of a broader economic recovery package that Mr. Obama is to unveil during a speech in Cleveland on Wednesday.
While Mr. Obama’s plan would call for investment over six years, the White House says it would be front-loaded with an initial investment of $50 billion in taxpayer money, to help create jobs in the shorter term.
Based on some media leaks, I'm not optimistic that the recovery package to be announced on Wednesday will help significantly with (un)employment. However this investment seems to make sense.