Obama proposes “use it or lose it” funds for infrastructure improvements

Over the weekend, President-Elect Barack Obama announced a few key parts of his economic recovery plan. His proposals include energy-efficient federal buildings, the single-largest investment in national infrastructure since the 1950s, and school upgrades.

In his weekly radio address, Obama identified the three issues. "First, we will launch a massive effort to make public buildings more energy efficient. Our government now pays the highest energy bill in the world. We need to change that. We need to upgrade our federal buildings by replacing old heating systems and installing efficient light bulbs. That won’t just save you, the American taxpayer, billions of dollars each year. It will put people back to work.

"Second, we will create millions of jobs by making the single-largest new investment in our national infrastructure since the creation of the federal highway system in the 1950s. We’ll invest your precious tax dollars in new and smarter ways, and we’ll set a simple rule—use it or lose it. If a state doesn’t act quickly to invest in roads and bridges in their communities, they’ll lose the money.

"Third, my economic recovery plan will launch the most sweeping effort to modernize and upgrade school buildings that this country has ever seen. We will repair broken schools, make them energy efficient, and put new computers in our classrooms. To help our children compete in a 21st century economy, we need to send them to 21st century schools."

To read the complete transcript, click here.