This is pretty good news. President Obama, at his jobs summit, just agreed that many of the solutions being offered at today’s session would involve public dollars, and that would be “a good investment in the future.”

There was a lot of concern about leaks that the President was more interested in deficit reduction in 2010, which would be really almost a death wish. This statement bears a much closer relationship to reality, in particular the reality of what needs to be done to fill in the demand shortfall and reverse unemployment.

Here are the opening remarks from the President at the jobs summit. I know these things are largely irrelevant, but getting the President on the record that job creation is more important than deficit reduction is important, and he should be held to it. While Obama said that there “aren’t enough public dollars to fill the hole of private dollars” created by the recession, he did say there’s a role for those public dollars to play in the near term. And anyone who doesn’t agree needs to look in the eyes of the 15 million unemployed and tell that to their face.

David Dayen

David Dayen

2 Comments