Obama: We Need 2.5M Jobs in 2 Years

Barack Obama says he will move quickly once in office to enact an ambitious, two-year plan to save or create 2.5 million jobs, Bloomberg reports. Obama announced his plan in his weekly radio address, where he also warned that “we risk falling into a deflationary spiral that could increase our massive debt even further.” About 1.2 million jobs have already been lost this year, and the trend could continue.

“It will be a two-year, nationwide effort to jumpstart job creation in America,” Obama said, “and lay the foundation for a strong and growing economy.” The president-elect said the plan would include massive injections of cash into infrastructure and the nascent green economy. Obama welcomed input from across the aisle but said “what is not negotiable is the need for immediate action.” (More Barack Obama stories.)