Andrew
President-elect Obama’s economic team is preparing a large stimulus package of government spending to boost the economy. He has not yet put a price tag on the plan, but it is likely to cost hundreds of billions of dollars. He says that the plan’s goal is “to save or create at least two and a half million jobs.”
He announced several parts of the stimulus plan last weekend, including a “massive effort to make public buildings more energy-efficient,” a large investment in national infrastructure, a plan to modernize and upgrade school buildings, expansion of broadband and Internet access, and an effort to modernize medical technology and record-keeping.
Obama will create a new institution, the Economic Recovery Advisory Board, to oversee recovery plans. The board will be led by former Federal Reserve Chairman Paul Volcker and economist Austan Goolsbee.
Tags: Economic Recovery, President-elect Obama, Stimulus
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