Economic News
Nov. 22nd, 2008 04:08 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
ysabetwordsmithThese are some encouraging signs:
I don't know this guy, but the market has responded to this news by perking up slightly. That's a good start.
This is very promising. First, Obama isn't talking about free handouts; he's talking about creating jobs. In order for people to be financially secure, they need jobs. Second, he's targeting those jobs in areas that need development anyhow: infrastructure (so our roads and bridges will be usable) and green energy (so we won't be dependent on foreign oil or run out of resources). This shows serious foresight and an understanding of how the world actually works. However, Obama anticipates resistance to this plan and could use support getting it put into action. Be prepared to scream at your representatives to pass a plan that will really help, after they've already rubber-stamped a bunch of handouts that haven't helped.
Geithner Said to Be Chosen for Treasury Secretary
Jackie Calmes: The New York Times, "President-elect Barack Obama will name Timothy F. Geithner to be his Treasury Secretary, according to a knowledgeable Democrat, elevating a Treasury veteran who as president of the Federal Reserve Bank of New York has all year been at the center of the worsening economic crisis."
I don't know this guy, but the market has responded to this news by perking up slightly. That's a good start.
Obama Plans to Create 2.5 Million New Jobs by 2011
Agency France-Presse: "US president-elect Barack Obama announced Saturday that he had ordered his economic advisers to produce an economic recovery
plan to create 2.5 million new jobs over the next two years."
This is very promising. First, Obama isn't talking about free handouts; he's talking about creating jobs. In order for people to be financially secure, they need jobs. Second, he's targeting those jobs in areas that need development anyhow: infrastructure (so our roads and bridges will be usable) and green energy (so we won't be dependent on foreign oil or run out of resources). This shows serious foresight and an understanding of how the world actually works. However, Obama anticipates resistance to this plan and could use support getting it put into action. Be prepared to scream at your representatives to pass a plan that will really help, after they've already rubber-stamped a bunch of handouts that haven't helped.
