Barack Obama on Sunday spelled out plans for the biggest infrastructure investment in the US for half a century and called for tighter regulation of the financial industry. The president-elect argued that with the economy reeling, his incoming administration could not afford to worry about a spiralling budget deficit. Obama’s proposals for government works on roads, bridges, internet broadband and school buildings, together with energy efficiency measures and health spending, are far more detailed than the normal announcements during a time of transition. At a time of deepening economic gloom – with half a million jobs lost last month alone – president George W. Bush has been largely absent from the recent economic debate. Obama is attempting to highlight his concern at the depth of the recession he will inherit, while fast-tracking his plans to counter it. “Things are going to get worse before they get better,” he said on Sunday on NBC.

This entry was posted by Gwen Robinson on Monday, December 8th, 2008 at 5:45 and is filed under Capital markets, People. Tagged with Barack Obama. Edit this entry.