Obama Calls for $1,000 Rebates to Pay Energy Bills

Barack Obama unvield an "emergency" plan for the economy today that includes $1,000 rebates for families or $500 for individuals to defray rising energy costs, Politico reports. The money would come in part from "windfall profits from Big Oil," the campaign says. Obama would pump another $50 billion into state governments and the national infrastructure to repair roads, bridges, and schools.

Obama’s campaign says the plan would save more than 1 million jobs while propping up state governments that face big budget shortfalls from the mortgage crisis. He released his plan shortly after another worrisome jobs report. John McCain’s reaction to the report was more muted: "Unlike Sen. Obama, I do not believe that raising taxes is the answer to our economic problems.” (More Barack Obama stories.)