Obama’s New Deal
Barack Obama unveiled his $60-billion economic rescue plan on Monday and urged Washington not to wait for a new president to take up his proposals. The Obama plan includes tax breaks for companies that hire new workers, a short moratorium on foreclosures and, with an eye on job creation, federal financing for public works and infrastructure projects.
Guardian:
In an echo of the 1930s New Deal, Obama proposed embarking on programmes to repair bridges, roads, schools and other infrastructure projects that have been on hold for decades.
To provide immediate relief for struggling families, he suggested allowing people to dip into their retirement plans and imposing a three-month moratorium on mortgage foreclosures.
Obama’s Rescue Plan:
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