Obama Promotes Plan for Urban Developement

Obama Promotes Plan For Urban Development
By COREY DADEAugust 25, 2008; Page A4

Barack Obama's campaign plans to relaunch his "urban agenda" Monday in what people close to the strategy say is an effort to assure urban leaders and voters of the Democratic nominee's commitment to cities and minorities without alienating skeptical white voters.
The plan features an increase in the minimum hourly wage, a new White House office focused on metropolitan areas and $60 billion to establish a national bank to finance public-works projects.

The campaign didn't give a total cost for the plan, but the 32-page blueprint that will be released during a meeting of the Democratic Party's African-American caucus includes tens of billions of dollars in annual spending on antipoverty programs, the new federal bank, education efforts and other new initiatives. Obama aides say much of the funding would come from an estimated $200 billion saved from reducing government waste and ending the Iraq war.