Obama announces early budget priorities: infrastructure and cleantech

November 22, 2008 | Eric Eldon | Comments |


President-elect Barack Obama announced a two-year program intended to create more than 2.5 million jobs by 2011, in his second YouTube video (and radio) “Weekly Address” since getting elected. He was surprisingly specific in terms of  the support he expects to provide to various cleantech technologies. Excerpt:

“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.”

He says his economic team is working out the details at this time; their agenda already says a lot, though. It aims to put $25 billion toward road and school infrastructure repair costs. It wants to invest $150 billion over the next ten years in a wide range of technologies and job-creation programs.

Many fiscal conservatives would prefer to fight recessions by lowering taxes, reducing government spending and regulations, and other methods. The focus on infrastructure and some of the cleantech spending, however, might strike a non-partisan chord.

For example, FedEx chief executive Fred Smith recently touted more oil drilling, less overall business regulation and an overhaul of the tax structure in order to spur innovation. Yet he also agrees that advancing battery-powered car technology is a generally important priority.

Also of note: Obama published this video on his transition-team site, Change.gov. While comments and ratings are closed for the video on the YouTube site, Change.gov offers a way to participate — you can fill out a form expressing your thoughts. It’s not clear how the incoming administration will make use of this feedback, but it’s certainly another step in making the government more open and accessible.

What do you think about this spending focus? Let us know in the poll, below.

<a href="http://www.buzzdash.com/index.php?page=buzzbite&BB_id=133503">What do you think of Obama's new spending focus?</a> | <a href="http://www.buzzdash.com">BuzzDash polls</a>

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About the Author, Eric Eldon

Eric currently covers digital media technology and business news, especially what's happening on social networks and their platforms. He also writes and edits stories about venture capital, and lots of other stuff, too. He started at VentureBeat in the spring of 2007, half a year or so after Matt Marshall left his reporting job at the San Jose Mercury News to found the site. Eric previously cofounded a startup called Writewith, that was building editorial software for newspapers and other groups of writers. The startup didn't work out, but he learned a lot.

  • TC
    Ahh, jeez. Welcome to ObammyBeat.com. I really enjoy the site, yet here's hoping once most of the Obammyites realize he's nothing more than a ego-driven politician, we can do away with the weekly Obammy posts.
  • Haha. Well, I wrote this post in a large part because federal funding, etc. could have a big impact on the cleantech companies we've been covering for years.
  • Dave Parson
    Of course Obama is going to squander $15 billion on "clean energy technology development" and avoid the obvious technology that actually is cost effective-nuclear.

    These folks with their "electric cars" are either really stupid or disingenuous. Electricity comes from coal (the industry Obama said he wanted to bankrupt), natural gas (a clean burning FOSSIL FUEL) and nuclear.

    As far as wind and solar goes-if it was economically viable the govt. wouldn't have to spend any of the taxpayer money on it. The reality is that the coastal liberals don't really care about the middle class, and want to inflict higher energy costs, economic dislocation so that they feel self-satisfied.
  • "Suprisingly specific"? maybe for about 10 seconds, the other three and a half minutes were full of the usual Obama style rhetoric.

    The formula to his speeches seems to be: spend 5% of your time talking about what your going to do and 95% selling yourself and making everyone feel good about them selves.
  • Not enough credit is being given to the high gas prices this past year and it's serious damage on our economy and society. That one factor alone has caused serious stress in both individuals and businesses. A record number of homes and jobs have been lost as a direct result. And, while we are doing the happy dance around the lower prices at the pumps OPEC is announcing cuts to manipulate the prices upward again. We must get on with becoming energy independent.We can't take another year like this past. There is a wonderful new book out about the energy crisis and what it would take for America to become energy independent. It covers every aspect of oil, what it's uses are besides gasoline, our reserves, our depletion of it. Every type of alternative energy is covered and it's potential to replace oil. He even has proposed legislative agenda's that would be necessary to implement these changes along with time frames. This book is profoundly informative and our country needs to become more informed and move forward with becoming energy independent. Green technology would not only provide clean cheap energy it would create millions of badly needed new jobs. The Book is called The Manhattan Project of 2009 Energy Independence NOW. Our politicians all need to read this book. check it out..www.themanhattanprojectof2009.com
  • TC
    They also need to read "the forgotten man" by Amity Shales.
  • As far as wind and solar goes-if it was economically viable the govt.
  • Looking back at this post now, you must agree that Obama is for real. He does what he says. Practises what he preaches. Obama, he's just the current world champion!