'Job One' for the President: Creating Jobs

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In America's "jobless" economic recovery, unemployment is setting records. The Obama Administration has adopted a long-term approach to  creating new jobs. But the President has now conceded that "our friends, neighbors and family members are desperately searching for jobs," and has called for a Jobs Summit at the White House next month, partly in response to Democrats worried about next year's mid-term elections. Since the current increase in economic growth is not creating jobs the way it's supposed to, what about a more direct approach? In Germany, which gave birth to "Cash for Clunkers," the government has kept unemployment down by subsidizing a work-sharing program. Are there other programs that can be borrowed from Europe?  What about getting the banks to lend money?

Credits

Guests:
David Leonhardt - New York Times - @DLeonhardt, John Nichols - The Nation - @NicholsUprising, Michael Burda - Humboldt University of Berlin, Christine Fisher - President, Streich Brothers, Robert Lerman - Professor of Economics, American University

Host:
Warren Olney

Producers:
Andrea Brody, Karen Radziner, Sonya Geis