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Obama tells business leaders they are key to job growth

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President Obama kicked off a much-anticipated jobs summit Thursday, telling 130 business leaders and others summoned to the White House for the afternoon-long session that private business, not government, holds the key to future job growth.

"Ultimately, true economic recovery is only going to come from the private sector," Obama said.

Obama is hosting the forum amid increasing calls from lawmakers of his own party to develop a plan to combat the nation's highest unemployment rate in 26 years, which is growing into both an economic and political liability.



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A "Dog and Pony" show designed to make it look like the current administration is actually doing something when, in fact, it isn't.

Businesses will not hire as long as they remain uncertain of the costs of doing so. The looming health care and carbon tax costs, for example, have left American companies deeply perplexed.



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There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises

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