MONEY MATTERS

President Obama has finally turned his attention towards unemployment but he has not promised total remedy. He sought new ideas from business executives, labour leaders, economists and others, to bring down the number of unemployment. Mr. Obama said that he would entertain “every demonstrably good idea” for creating jobs, but he also cautioned that “our resources are limited.”
Jobs are the issue and it is really the biggest challenge and the most difficult problem to be faced, said Mr. Bernanke. He also said that many credit worthy small businesses were unable to get bank loans. The House makers are particularly concerned with the employment issue, since they all face re-election next year.
Now, at a time when Mr. Obama has ordered for 30,000 additional troops to Afghanistan, and both the domestic and the military demands on the administration are raising costs, he has to face pressure from his own office to bring down unemployment. The modest proposals made by the government are of less use, with the highest unemployment rate at present.
Mr.Obama told his audience of executives and critics that “I want to be clear: While I believe the government has a critical role in creating the conditions for economic growth, ultimately true economic recovery is only going to come from the private sector.”

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