Obama: ‘We must Restore the Confidence of Middle-Class Families’

President-elect Barack Obama announced that his first act as president would be the enactment of an economic recovery plan that would, in his words, be "big enough to meet the challenges we face," creating 2.5 million jobs by 2011. Key elements of Obama's plan echo actions CWA recommended in its Economic Recovery Plan for American Families. Here are excerpts from Obama's remarks:

We'll put people back to work rebuilding our crumbling roads and bridges, modernizing schools that are failing our children, and building wind farms and solar panels; fuel-efficient cars and the alternative energy technologies that can free us from our dependence on foreign oil and keep our economy competitive in the years ahead.

These aren't just steps to pull ourselves out of this immediate crisis; these are the long-term investments in our economic future that have been ignored for far too long. . . . We must restore confidence in our markets and among middle-class families who find themselves working harder, earning less, and falling further and further behind.

But what is not negotiable is the need for immediate action. Right now, there are millions of mothers and fathers who are lying awake at night wondering if next week's paycheck will cover next month's bills. . . . Retirees are watching their life savings disappear and students are seeing their college dreams deferred. Americans need help, and they need it now.