Obama unveils economic stimulus plan

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Source: CCTV.com | 01-09-2009 10:13

The new president of the United States has unveiled his economic stimulus plan.

Barack Obama was officially declared by Congress as the next US president on Thursday, and he wants Congress to approve his plan as soon as possible.

US president-elect Barack Obama on Thursday warned that only immediate and massive spending to jolt the world's largest economy could avert a deep recession and double-digit unemployment.(AFPTV/Pool)

As part of a raft of proposals to revive the US economy, Obama pledged to double the country's production of alternative energy in three years, and improve the energy efficiency of two million homes.

He also laid out goals for modernizing over 75 percent of federal buildings, as well as updating schools and universities, making medical records electronic, and expanding broadband networks.

However, analysts say his remarks shed little new light on the details of his proposal, which could cost as much as 775 billion dollars over two years in tax cuts.

Nor did he elaborate on his proposed spending on infrastructure, including roads and bridges, intended to create three million new jobs and help put the US economy back on track.

Editor:Zhang Pengfei