As jobless rate remains high at 10%, here's the good -- and bad -- news

With Friday's jobs report showing that U.S. employers cut 11,000 jobs -- 114,000 fewer than expected, the data are the latest to suggest that the economy is getting worse more slowly than in March. But, as President Obama noted Thursday, to really rebound, the economy needs a virtuous cycle where "the recovery starts to feed on itself."

Much of the improvement in the economy may be a testimony to the economic policies of people like Jason Furman, deputy director of the President's Council of Economic Advisors, who I worked with in the 2004 presidential campaign and who remains focused on job creation. However, along with the recovery, there are significant costs.