Obama's Employment Woes

President Obama's Thursday jobs summit highlighted the fact that the president is between a rock and a hard place. The plan that liberal supporters say would help ease the 10.2 percent unemployment rate most is direct U.S. investment in job creation—an expensive proposition for government with a $1.4 trillion federal deficit. But Obama said ultimately, he believes the private sector, not the government, will produce future job growth. The president favors a proposal that includes small-business incentives, regulatory and other help for exporters, tax credits for businesses that hire new workers, and weatherization, all of which would cost the federal government relatively little. Obama said he will provide further details next week.