Starbucks CEO Schultz pushes jobs initiative, says business leaders shouldn't wait for Washington

President Obama and Mitt Romney are in the midst of a back and forth over who's really out of touch with the American worker. It all started when President Obama said that the private sector was doing fine Friday. Republicans were quick to pounce, suggesting the President doesn't understand what it takes to get this country working again. Though job growth is slowing, more than 4 million jobs have been created since the President took office.

Putting the political spin aside, Christine talks with Starbucks CEO Howard Schultz this morning on "Starting Point," a business leader who knows a thing or two about creating jobs. He says it's incumbent on companies not to wait for Washington to do something about the jobs crisis.

"At one point there was 30 million manufacturing jobs just in 1979," Schultz says. "We are down to 9 million now in the United States. We have to be able to bring back and reset the table to get manufacturing back in America. What that's going to take, obviously, are policies from Washington that stimulate the economy. But what I'm saying is that companies and business leaders must recognize we can't wait for Washington, that we too can make a difference. In Starbucks' case, we're trying to demonstrate you can balance profitability with a social conscience and make a difference. And I also think the consumer today is willing to pay more for a product as long as it's high quality."

Also, Starbucks is rolling out a new initiative to support its Create Jobs for the USA program. Schultz explains how the company was able to revive the town of East Liverpool, Ohio.