Obama's Short on Details, Long on Optimism

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President-elect Barack Obama went for the hard-sell when he discussed his economic recovery plan Thursday, and despite being short on specific details, market analysts say investors should be optimistic about a potential near-term boost from the program.

Arguing that the current recession could "linger for years" if nothing is done, Obama said dramatic action must be taken as soon as possible. "In short, a bad situation could become dramatically worse," Obama said during his speech at George Mason University in Fairfax, Va.

Estimates currently peg the price tag of Obama's proposed American Recovery and Reinvestment Plan close to $800 billion, with 40% of that designated as tax cuts to individuals and businesses. The remainder would be used for infrastructure spending and to help individual states pay for Medicaid programs. ...