Obama signs jobs bill, says more must be done

WASHINGTON (AP) — President Barack Obama today signed into law a package of tax breaks and spending designed to give the nation a jobs boost by encouraging the private sector to start hiring again.

It's the first of several such measures Democrats have promised this election year to address the public's top worry: jobs. The measure includes about $18 billion in tax breaks and pumps $20 billion into highway and transit programs.

At a ceremony in the sunny White House Rose Garden, Obama said the bill is necessary "but by no means enough."

"There is a lot more we need to do to spur hiring in the private sector and bring about full economic recovery," he said.

There is plenty of skepticism that the new law will do much to foster hiring. Optimistic estimates are that the tax break could generate perhaps 250,000 jobs through the end of the year; some 8.4 million jobs have been lost since the start of the recession.

Small businesses in particular will benefit, the president said.

"Many of them are on the fence right now about whether to bring on that extra worker or two, or whether to hire anyone at all," Obama said. "This jobs bill should help make their decision that much easier."