Now that his 10-day vacation in Martha’s Vineyard is over, President Barack Obama is set to promote certain initiatives to drive the country’s economy ahead of the November election. Obama is schedule to spell out an infrastructure proposal today at a Labour Day event in Milwaukee.

The infrastructure investments package is a long-term investments spanning over six-years and will cover the nation’s roads, runways and railways at a staggering cost of US$50 billion. The infrastructure plan includes:

• rebuilding of 150,000 miles of roads
• constructing 4,000 miles of railways
• constructing 150 miles of airport runways
• modernizing new air navigation system

 

This infrastructure investments plan is actually part of the US$814 billion stimulus package approved by Congress last year and the objective was to put construction workers, welders and electricians back to work.

 

Other initiatives to be on Obama agendas include:

• to get Senate’s approval for US$12 billion in tax breaks and US$30 billion fund to help unfreeze lending
• to sell the idea of increasing and make permanent research and development tax credits for businesses worth US$100 billion
• extending a law passed in March that exempts companies that hire unemployed workers from paying Social Securities taxes

 

August has been recognized as the worst month for the bull in the stock market and September has so far started with promising bullish momentum. However during market uncertainties the bear normally outpaces the bull and that’s the reason what Obama administration can do (or rather promise) during this month is crucial to the longevity of the bull.

What people on the street want to hear before give more of their thumb-ups is concrete plans on how the government will tackle the unemployment problem which stubbornly affecting the economy recovery. Has Obama’s administration reloads their bullets for the month of September?

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September 6th, 2010 by financetwitter

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