"There cannot be a thriving Wall Street without a thriving main street," believes Obama.
After announcing key members in his administration, Obama said there will be a nationwide effort to jump-start job creation in America and build a strong and growing economy.
The Obama administration plans to a multi-year stimulus package of $500 billion to $700 billion to boost the economy.
He plans to create 2.5 million jobs by 2010 to offer relief to families who are facing jobs losses and pay cuts. The economy has lost 760,000 jobs this year. The unemployment rate is expected to exceed 8 percent by the end of next year.
The Obama administration plans to implement a windfall profits tax on excessive oil company profits to give American families an immediate $1,000 emergency energy rebate to help families pay rising bills.
This relief would be a down payment on the long-term plan to provide middle-class families with at least $1,000 per year in permanent tax relief.
He plans major investments in the healthcare, infrastructure sector, building roads, bridges, schools and alternative-energy infrastructure.
Image: Job seekers attend a career day sponsored by the New Jersey Nets.| Photograph: Spencer Platt/Getty Images
Also read: Obama: The new-age digital President
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