Obama Defends Economic Policies, Need for Tax Increases In 'Today' Interview

Co-host Ann Curry spoke to Obama after he visited Durham, N.C., on Monday to meet with his Jobs and Competitiveness Council about how to boost short-term job growth and spoke to workers in a manufacturing plant. Asked why businesses were so slow to hire new workers while spending much more on equipment, Obama spoke of structural changes in the economy caused by technology -- ATMs instead of bank tellers, airport kiosks instead of ticketing agents -- that have made businesses function with fewer employees.