Updated Trends: New Infrastructure Plan By President Barack Obama, $50 Billion To Jump Start Job Creation
President Barack Obama will be taking a very strong and serious step to bring US out its apathy, he has announced a six year infrastructure rebuilding plan. The first step is an initial investment of $50 billion in the market, to restart the job creation system. He has also kept forward an infrastructure bank plan that will provide private capital.
The announcement of this plan is scheduled in his speech in Milwaukee, on the eve of Labor Day, which also marks a day to begin his election campaign. And now it actually seems that the America has to stand up to its fallen economy and that there has to be a proper plan to pull it out.
Unemployment rate in the US has nearly touched 10% and if this will continue, and the job cutting too, then the US will be witnessing another phase of recession in the beginning of the next first quarter. As of now for the people who had the vision of the American Dream to go to the States has now started to fade and in some places is already gone, specially in developing countries in the east.
Source: Reuters
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