Statement of Governor Kaine

Statement

Statement of Governor Kaine

Governor Timothy M. Kaine today issued the following statement in response to President-elect Barack Obama's radio address:

"Yesterday we learned that employers across the nation cut an astonishing 533,000 jobs in November. This is the highest monthly total since 1974. The nation's unemployment rate is now at 6.7 percent or 10.3 million people.

"It has been reported that in the third quarter of this year one in 10 U.S. homeowners are behind on their mortgage payments or in foreclosure. This is an all-time high. Families everywhere are finding it increasingly difficult to make ends meet during this economic crisis.

"President-elect Obama understands the aggressive steps necessary to restore the nation's economic strength and create jobs.

"Today in his radio address, he discussed his plan to provide for significant investment in critical infrastructure projects, such as road and transit construction, bridge repairs, energy efficiency upgrades, and school repairs. His plan will put people to work and give the economy a critically important boost.

"Moreover, the President-elect's 'use-it-or-lose-it' approach for infrastructure investment, requiring that infrastructure funds be used immediately on projects that are ready to go, makes sense. This ensures that the work will begin on these long-term investments and thousands of new jobs will be created quickly. Here in Virginia, we have more than a billion dollars in ready-to-go bridge, highway, rail, transit, port and airport projects that have been through appropriate local, regional and state planning processes and that can be under contract within 180 days.

"I have been fighting to restore Virginia's infrastructure since I became Governor in 2006, and I am so gratified that President-elect Obama understands the important value of these investments, especially given the current economic climate across the country and here in Virginia.

"The President-elect understands that hard working families being hurt by this recession need help now. Long neglected investments in the nation's infrastructure are a crucial step in that recovery process."

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