Transition Team Begins Work On Recovery Plan; Education Key Area For Investment

This week, president-elect Barack Obama and Congressional Democrats begin work on a two-year economic recovery package.

The president-elect has pledged to create three million jobs over the next two years. The American Recovery and Reinvestment Plan would “put people back to work today and reduce our dependence on foreign oil tomorrow.”

Obama’s plan includes spending and tax incentives to double production of renewable energy; increase government building efficiency; build and renovate roads, bridges and schools; and modernize health care technology, The New York Times reports.

“The fate of our economy and environment hinge on how quickly we move to repower America with clean energy solutions,” said Larry Schweiger, President & CEO, National Wildlife Federation.

“Clean energy investments create jobs, revitalize our economy, and reduce the pollution that is accelerating global warming. The investments in clean energy that forestall a climate meltdown will aid our recovery from the global financial meltdown.”

A key area for investment is in education and training, because educational services generate 23.1 jobs per $1 million in spending, nearly five times more jobs created than oil and natural gas sector spending.