BLOOMBERG: — President Barack Obama proposed a $50 billion transportation spending program that he said would boost jobs in the construction, manufacturing and retail industries and help rebuild the nation’s infrastructure.
“Crumbling” roads, bridges, airports and rail lines are hindering U.S. economic growth, Obama said after meeting with members of his Cabinet, former transportation secretaries, as well as governors and mayors from around the country. ..
A report by the Treasury Department and White House Council of Economic Advisers said that about 90 percent of the new jobs in those three segments of the economy would fall in the middle- class range. The construction industry, where unemployment exceeds 17 percent, would benefit the most, with 61 percent of the jobs created. The unemployment rate is 9.6 percent nationally… (more)
