The US president Mr. Barack Obama has announced for a new infrastructure plan worth 50 billion dollars in order to give a boost to the shrinking US economy.

A per the estimate the 50 billion dollars will be invested in making railways, roads, airports and also for the creation of an infrastructure bank.

The infrastructure of US has been considered as underfunded and given low grades from the government agencies for a long time. This move has been taken because the economy of US is faltering day by day.

On last Friday the Labor Department of US said that the economy of US had lost 54000 jobs again which pushed the unemployment rate up to 9.6% in August from 9.5% in July. In a statement Mr. Obama has said the government is going to rebuild almost 150,000 miles of roads in next six years.

The length is long enough to circle the globe six times. The new project has also a plan to lay and maintain 4000 miles of the railways and 150 miles of the airport runways. The project also includes the implementation of new generation air-traffic control system.