US

Obama promises 2.5 million jobs by 2011, picks economy chiefs

Article published on the 2008-11-23 Latest update 2008-11-23 10:26 TU

Barack Obama
(Photo: Reuters)

US President-elect Barack Obama has announced a plan to stave off the effects of economic crisis and create 2.5 million jobs over two years. In his party's weekly radio broadcast on Saturday Obama committed his administration to a public works programme with an emphasis on environment-friendly measures and promised more of the same to follow. His supporters say that he has picked two experienced players to head his economic team.

Promising to "jumpstart job creation in America and lay the foundation for a strong and growing economy," Obama said the programme would involve rebuilding roads and bridges and modernising schools.

And, in a new emphasis on green issues, wind farms will be built, solar panels and fuel-efficient cars encouraged and alternative energy technologies will be developed to reduce the country's reliance on foreign oil.

"These aren't just steps to pull ourselves out of this immediate crisis," he said. "These are the long-term investments in our economic future that have been ignored for far too long."

The President-elect declared that the plan is "an early downpayment" on the type of measures that his adminstration will introduce.

It may not be easy to push it through Congress, he said.

"But what is not negotiable is the need for immediate action. Right now, there are millions of mothers and fathers who are lying awake at night wondering if next week's paycheck will cover next month's bills."

Amid much speculation about choices for his cabinet, sources close to Obama have confirmed that he will name New York Federal Reserve chief Timothy Geithner to replace Henry Paulson as Treasury Secretary and Clinton-era Treasury Secretary Lawrence Summers as head of the White House economic team.

Earlier he named his former Senate communications director, Ribert Gibbs, as White House press secretary.