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

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In an interview shown on NBC's Today show Tuesday, President Obama rehashed some of his recent policies for job creation but offered no new insights about his economic plans for the year.

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.

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