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President Obama holds meeting on infrastructure investment

12-Oct-2010 10:40 AM

US Government released (11-Oct-2010) a new report on its USD50 billion infrastructure investment in America's roads, railways, and runways from the Department of the Treasury with the Council of Economic Advisers. The report discusses the positive economic impact infrastructure investment achieves by raising our nation’s economic output, enhancing America’s global economic competitiveness and creating good jobs for the middle class. Specifically, the report finds that 80% of the jobs directly created by investing in transportation infrastructure would be in the construction, manufacturing and retail trade sectors. [more]

US Government: "We need a new plan for America’s roads, rails and runways for the long-term. Over the next six years, we will rebuild 150,000 miles of our roads – enough to circle the world six times. We will lay and maintain 4,000 miles of our railways – enough to stretch coast-to-coast. And we will restore 150 miles of runways and advance a next generation air-traffic control system that reduces delays for the American people. By making these investments across the country, we won’t just make our economy run better over the long haul – we’ll create good, middle-class jobs right now.” Barack Obama, President of the United States of America. Source: Government statement.