Obama calls for drastic measures to revive economy

January 9th, 2009 - 2:28 am ICT by IANS  

Barack ObamaWashington, Jan 9 (DPA) US president-elect Barack Obama is expected to call for drastic measures to revive the ailing US economy Thursday, even if that means tipping the US deficit over $1 trillion.In prepared comments for a speech scheduled for 1600 GMT, Obama said the economic situation could deteriorate further and a recession last for years without government intervention. He said unemployment threatens to reach 10 percent.

Obama left little doubt that his proposed economic programme, while necessary, would increase the deficit. The proposal would either add or preserve 3 million jobs over the next year with investments in infrastructure and alternative energy industries.

Tags: , , , , , , , , ,

Posted in Business |