In the New York Times this weekend, Paul Krugman pondered just exactly what is hindering job creation in the U.S. Or, conversely, he cited President Obama's statement this weekend of “We can out-compete any other nation on Earth,” and asked, well, what's keeping us from doing that?...

In the run-up to the 'State of the Union,' President Obama has been ramping up a focus on job creation, including the creation of a new advisory council.

As Krugman points out, however, the president may be focusing in the wrong areas:

talking about “competitiveness” as a goal is fundamentally misleading. At best, it’s a misdiagnosis of our problems...if confronting China is what Mr. Obama is proposing, he should say that plainly.

Krugman suggests that if the president is proposing "a serious increase in spending on infrastructure and education," he'd be pleased.

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