"President Barack Obama on Tuesday touted the nation's community colleges as a key ingredient in his efforts to resuscitate the flailing economy. He called for a $12 billion investment to prepare millions of people for well-paying, 21st century jobs. Obama's funding commitment, if ultimately approved by Congress, would bring new academic programs, new buildings and a new sense of optimism to America's nearly 1,200 community colleges. The White House says the $12 billion would be spread over 10 years, and would be paid for by ending wasteful subsidies to banks and private lenders of student loans."
This could be a good idea. This could be a bad idea. But, it won't do a thing to lower unemployment today or tomorrow or any time in the next few years.
When the administration sells everything as a "jobs program" to "reduce unemployment", they're being dishonest.