'Job One' for the President: Creating Jobs

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?