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Obama to propose massive rebuilding program costing at least $50 billion

Proposals to see 150,000 miles of roads, 4,000 miles of railways, 150 miles of runways constructed or rebuilt.

This means jobs for the American People Folks! I don't care if you are republican, democrat, independent or tea bagger! If you really care about this Country, if you really want this Country to get on it's feet again you should write your congressman and tell them to say YES to this plan! The party of NO has done enough damage. It's time for the American People to go back to work and rebuild this Country road by road, railway by railway!-Mem

Carolyn Kaster / AP
President Barack Obama, waving to media on White House's South Lawn Sunday, hopes is considering closing tax breaks for oil and gas companies to pay for the proposals.


WASHINGTON — President Barack Obama is asking Congress to approve at least $50 billion in long-term spending in the nation's roads, railways and runways in a pre-election effort to show he's trying to stimulate the sputtering economy.
The infrastructure spending is part of a package of targeted proposals the White House announced on Monday. With November's elections for control of Congress approaching, Obama planned to discuss the proposal later Monday at a Labor Day event in Milwaukee.
The proposals would require congressional approval, which is highly uncertain with many legislators and voters worried about adding to federal deficits that are already sky-high. With Republicans saying spending is out of control and polls showing many people want to end Democrats' control of Congress, even many Democratic lawmakers are reluctant to approve new spending so close to Election Day.

Even if legislators could pass a bill in the short window between their return to Capitol Hill in mid-September and the elections, the early projects would not create jobs immediately. Senior administration officials, who would not be quoted by name before Obama's announcement, said the initial projects would lead to new jobs over the course of 2011.
The officials said the initial $50 billion would be the beginning of a six-year program of transportation improvements, but they did not give an overall figure. The proposal has a longer-range focus than last year's economic stimulus bill, which was more targeted on immediate job creation.
The goals of the infrastructure plan include: rebuilding 150,000 miles of roads; constructing and maintaining 4,000 miles of railways, enough to go coast-to-coast; shorter, high speed rail projects; and rehabilitating or reconstructing 150 miles of airport runways, while also installing a next generation air navigation system designed to reduce travel times and delays.
Obama will also call for the creation of a permanent infrastructure bank that would focus on funding national and regional infrastructure projects.

Update: 09-06-10 3:11 pm ET- President Obama spoke about the economy on Labor Day at Laborfest in Milwaukee.

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