The Washington Post
WASHINGTON -- President Obama's jobs summit was aimed at producing ideas to battle a surging unemployment problem exacting ever greater economic and political toll, but the event only highlighted the tough dilemma he confronts.
Obama says he does not have the money for the plan many of his liberal supporters say packs the biggest employment punch -- direct federal investment in job creation. Instead, he came close to embracing a to-do list for the private sector that sounded rather familiar: weatherization, small-business incentives, regulatory and other help for exporters, and tax credits for employers who hire new workers.
Obama said the proposals could create jobs immediately, while providing long-term benefit at a relatively small expense to the federal government. "Overall, we generated a lot of important ideas," he said. "Some of them, I think, can translate immediately into administration plans and, potentially, legislation."
Speaking to 130 business leaders, union chiefs, economists and others summoned to the White House for the forum, Obama reassured his audience that some of the ideas he cited are under close consideration as his administration grapples with ways to improve the bleakest labor market in a generation.
Constrained by the $1.4 trillion federal deficit, the president has been reluctant to endorse a specific job-creation plan, especially as about half of the $787 billion in stimulus funds remains unspent.
But as he has come under increasing political pressure to take visible action to stem the nation's 10.2 percent jobless rate, Obama said at the summit that he would present some details of his administration's preferred ideas next week.
Labor unions and liberal think tanks have released proposals to spend hundreds of billions of dollars on job-creation programs focused on public works and infrastructure. The Congressional Black Caucus, increasingly vocal with its concerns about the administration's priorities, has promised to release legislative proposals. But the details of a consensus plan remain elusive.
Democrats are considering a broad range of ideas, including increased help for the unemployed, a tax credit for jobs, additional aid to states, more infrastructure spending, tax reductions for small businesses and a public jobs program. House Democrats have set a tentative goal of passing a package this month.
Obama said private business, not government, holds the key to future job growth. "Ultimately, true economic recovery is only going to come from the private sector," he said.
