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Obama Rebalancing Plans for Economic Recovery

New York Times: Obama Bolsters Recovery Plans as Economic Outlook Dims – “Faced with worsening forecasts for the economy, President-elect Barack Obama is expanding his economic recovery plan and will seek to create 3 million jobs in the next two years, up from a goal of 2.5 million jobs set just last month, several advisers to Mr. Obama said Saturday. Even Mr. Obama’s more ambitious goal would not fully offset as many as 4 million jobs that some economists are projecting might be lost in the coming year, according to the information he received from advisers in the past week. That job loss would be double the total this year and could push the nation’s unemployment rate past 9 percent if nothing is done.”

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