See the NY Times article: Obama Pledges Public Works on a Vast Scale
Obama's approach is right on the money. We must build ourselves up to improve our country and our world -- instead of knocking others down as George W. Bush and the Republicans were fond of doing (as in Iraq).
Those "Borrow and Spend" Republicans deserve to be in the dog house for a very long time. Obama has tons of challenges ahead thanks to the multiple messes that the Republicans have created: The Economic Collapse, The Iraq Mess (due to lack of good regulation, over spending, over borrowing, making war on others, negative campaigning, etc).
Obama's team is looking very good and has been masterful in keeping a steady stream of positive developments flowing as he approaches the presidency. Obama built up more goodwill for the United States in the eyes of the world during his campaign then Bush did during his entire 8 years. Obama is getting more accomplished for the US in the time between his election and his inauguration than Bush did during his entire 8 years. If Obama keeps this up, he will be one of the best Presidents in US history.