WASHINGTON (AP) — The new chairman of President Barack Obama’s Council of Economic Advisers says Americans can expect to see the high unemployment rate continue for some time.
Speaking on “Fox News Sunday,” Austan Goolsbee said the recession that began in 2007 put the U.S. economy deep in the hole and it’s going to be a long struggle to get out.
The unemployment rate is now at 9.6 percent, and Goolsbee declined to speculate what it might be at the end of the year.
But he says he doesn’t think the rate will be coming down significantly anytime in the near future.
Goolsbee takes over the council’s chairmanship from Christina Romer, who left the White House earlier this month to return to teaching.
Blaze editor’s note:
On the ABC News program “This Week,” Christiane Amanpour pressed Goolsbee about President Obama’s new plan that calls for $50 billion dollars in spending on infrustructure.
The ABC News article about the interview actually spells out that she asked a “tough question” about the potential effects of the new plan on the unemployment rate:
“It obviously depends on how you do it,” he said. “It could have a significant impact on trying to get investment in factories…by small businesses in buying equipment, research and development and job creation in this country.”
“Do you have sort of a target number?” Amanpour pressed.
“I do not want to speculate on that,” Goolsbee replied. “The point of those policies, they aren’t spending – they’re the government giving tax cuts to businesses to invest in this country, that’s what they are.”
Here are videos of both the Fox News and ABC News interviews:
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Comments (66)
weirdone
Posted on September 12, 2010 at 8:05pmOBAMA: “To those Americans whose support I have yet to earn , I may not have won your vote, but I hear your voices, I need your help, and I will be your president too.” It’s been nearly 2 years when will you start?
(1) Sixty-eight percent (68%) prefer a smaller government with fewer services and lower taxes to a more active one that offers more services and higher taxes. That’s the second highest finding in surveying on the question since November 2006.
(2) 55% of voters continue to oppose a second economic stimulus package, opposition that has held steady since spring of last year. However, 63% believe it is at least somewhat likely that Congress will try to pass another economic stimulus package before the year is over. The president has called for at least $50 billion in new government spending on the nation’s transportation infrastructure and billions more in tax credits in hopes of jumpstarting the troubled economy with midterm elections less than two months away.
(3) But then 62% believe that no matter how bad things are, Congress can always make them worse. This level of skepticism is shared by a majority of just about every partisan and demographic group, including 53% of Democrats whose party currently controls both houses of Congress.
(4) Congress’ chief accomplishment of the year is the passage of the national health care law, but most voters continue to favor repeal of that measure. A plurality thinks repeal would be good for the economy.
(5) For the third week in a row, just 29% of voters say the country is heading in the right direction.
(6) Two-out-of-three voters (66%) say the country is heading down the wrong track, up two points from last week.
(7) A majority of voters nationwide continue to support offshore oil drilling and deepwater drilling like that which caused the oil leak in the Gulf.
(8) The Rasmussen Reports daily Presidential Tracking Poll for Saturday shows that 27% of the nation’s voters Strongly Approve of the way that Barack Obama is performing his role as president. Forty-six percent (46%) Strongly Disapprove.
(9) Just 11% believe the nation has changed for the better since that horrific day 9/11/01. Sixty-eight percent (68%) believe it has changed for the worse. Seventy-one percent (71%) Most believe another such attack is at least somewhat likely within the next decade.
(10) Overall, 42% of voters say they at least somewhat approve of the president’s performance. Fifty-seven percent (57%) disapprove.
Enough Said!
Report Post »plunderpower
Posted on September 12, 2010 at 7:50pmIt’ll get higher for sure after midterms and impeachments and arrests.
Report Post »FindKeyToTheTruth
Posted on September 12, 2010 at 6:54pmLet’s stop the nonsense. Businesses are not going to hire people if they don’t have the demand for their products and services.
Report Post »PeterBreitholtz
Posted on September 12, 2010 at 7:52pmOn being unemployed:
If we choose, we can live in a world of comforting illusion.
Report Post »~Noam Chomsky
BurntHills
Posted on September 12, 2010 at 6:50pmof course the imam obama is going to try to spin it so we are “prepared” for the economic and jobless worsening and worsening devastating spiral downward as he destroys America so he can put his socialist agenda in place. we aren’t supposed to notice or protst we can see we are headed toward enslavement to his form of muslim socialism.
hey did we just see the big chart where unemployment under PRESIDENT Bush was only at 6.1%, and less than 2 years into imam obama it’s skyrocketed to 9.6% …. as imam obama forced car dealerships and factories etc etc etc to CLOSE DOWN.
Report Post »WIjoyzie
Posted on September 12, 2010 at 6:35pm“…the recession that began in 2007 put the U.S. economy deep in the hole and it’s going to be a long struggle to get out.”
Soooo… stop digging the hole bigger by the senseless spending!
Report Post »M31Sailor
Posted on September 12, 2010 at 7:08pmWhich was the party elected in the 2007 cong. elections? Nancy and her band of thieves Harry and his band of thieves.
Report Post »Vote Chicago style ,,,Early and Often
dteam270
Posted on September 12, 2010 at 6:27pmHMMMM. trickle up economics doesn’t work. Who would’ve thunk it.
Report Post »bbach57
Posted on September 12, 2010 at 5:37pmOnce again Danglingbags can Not put a spin on this report to make the Reps look bad. So he keeps his fat mouth shut. Where you at dinglingbags. You are just like all Dems you can’t lie your way out of this so you hide
Report Post »Live Free or Die
Posted on September 12, 2010 at 6:25pmTroll life is tough.
Report Post »slwolfgram
Posted on September 12, 2010 at 6:46pmUnder a bridge most likely.
Report Post »broker0101
Posted on September 12, 2010 at 5:36pmI’ll clarify for the lefties among us. The “solution” to 6.7% unemployment (gleefully reported in November 2008 as a “15 year high”), is 9.6% unemployment.
Report Post »quicker
Posted on September 12, 2010 at 5:34pmto broker0101 Just remenber a coutry boy can sirvive
Report Post »broker0101
Posted on September 12, 2010 at 5:37pmRoger that. Stay smart.
Report Post »broker0101
Posted on September 12, 2010 at 5:33pmWe were told before the 2008 election that these people had the solutions to this and every other problem. These are the results of those “solutions”. Any questions?
Report Post »A1955Rosie
Posted on September 12, 2010 at 5:26pm“Remain high”? I think it‘s going to go alot higher befor we get dingle’s kind out. Even then, there’s going to be a price to pay no matter who gets in.
Report Post »redneck
Posted on September 12, 2010 at 5:23pmI have total confidence in our president, because he has considered every idea on our economy, and the best way to handle everything, because he says that what he’s doing, that the unemployment will remain below 20 percent.
Report Post »jjs
Posted on September 12, 2010 at 5:21pmAt 9.6 % and higher unemployment the people that are going to be hurt the most are the poor and the socialist progressive child adults who selfishly consider themselves elites with nothing to back it. The truly poor have no choice in most cases. The socialist progressives child adults and communist will suffer because they find it cute to suck off the tit of others but when the tit runs dry they have no skills to support themselves in the adult world. They will face this reality at some point. They are going to be stuck for ever and ever unless they change. It will be a miserable life for them otherwise. There are only so many government and academic jobs for these fools. In a few short years even colleges will not want them because they will not be able to afford to have none productive people on their staff. It is hard to put on your resume that all you‘ve done your whole career is sat at home at mom’s house and blogged on the computer and played video games.
Myself, I am an educated and a highly skilled person whose trade is needed throughout the world and I have traveled extensively. I use my extra money and time to help families in Haiti, Kenya and Mexico. I also am involved in small business in these parts of the world. Life is much more than about you, there is a higher reason.
I do not know of too many companies or governments that are looking for adult children to play video games and blog nonsense all day. Even George Soros’s will dump you after his cause looses its voice and he passes away. I wish the progressive children luck; they will need it, because things are going to get much tougher for them…much tougher.
Report Post »Time_To_Stand
Posted on September 12, 2010 at 5:18pmRemember – this is the same person that is against extending the tax cuts!
Report Post »I heard other economist state that we are in trouble when Austan was appointed. He brings no new ideas for economic recovery – just more of the same.
Freelancer
Posted on September 12, 2010 at 5:17pmWhere is Joe and his “Summer of Recovery” tour??? Oh, if you watched the entire interview, there is a new spin on that too. This new clown says what Biden meant was it was supposed to mean that he was on a tour to tout the recovery package, not a recovery itself….
Report Post »mzmaj7
Posted on September 12, 2010 at 5:09pmLast year, he said the stimulus was already working.
Report Post »quicker
Posted on September 12, 2010 at 5:08pmGo figure when the job creaters are uncertain or taxed more jobs go away.Thank God Iknow how to raise my own food…
Report Post »kahall
Posted on September 12, 2010 at 5:05pmAhh Dad. He just needs a little social justice.
Report Post »quicker
Posted on September 12, 2010 at 5:03pmGo figure when the job creaters are uncertain ortaxed more jobs go away.Thank god that I can riase my own food…
Report Post »broker0101
Posted on September 12, 2010 at 5:12pmBe careful and smart. If it comes to that, those of us with the most guns, ammunition and training will simply take your food, gold, etc. Be self-sufficient intelligently.
Report Post »Ruler4You
Posted on September 12, 2010 at 5:01pmIt just goes to show you that just because you are a politician, understanding of economic mechanics is not a given.
Report Post »smartypoop
Posted on September 12, 2010 at 5:00pmIm glad to see that they are finally starting to admit what the rest of the country has known for the last two years. Heres a tip; STOP SPENDING!
Report Post »I wonder what the next takeover will be. There must be something the government does not own and has yet to destroy, that wont help the economy.
slwolfgram
Posted on September 12, 2010 at 6:44pmObama said we are still trying to dig ourselves out of the hole the economy is in. Doesn’t he realize that digging in an already deep hole only makes it deeper?
Report Post »Freelancer
Posted on September 12, 2010 at 4:58pmGo figure…. He‘s from Chicago so he’s got to do all he can to keep all of those Chicago thugs in the White House.
Report Post »A1955Rosie
Posted on September 12, 2010 at 5:25pmDingle is chicago. No wonder the stupidity w/an attitude. Well not ALL Chi think (I use that term loosly) like him.
Report Post »RESTORATION1787
Posted on September 12, 2010 at 4:39pmDinglebags. Were you bunking with Goolsbee? Speaking your kind of Spin!
Report Post »I’ll stick with Goldline. A much better choice for economic security.
CherryBomb
Posted on September 12, 2010 at 4:50pmDinglebags was last seen cleaning out his dad’s colostemy bag…no joke. :)
Report Post »baldwin4freedom
Posted on September 12, 2010 at 9:33pmCome on guys. I like having the other side here. Just think if we can articulate our reasoning for disagreement into an honest debate, that would be a good thing. I need the practice because I have alot going on in my head and need to get it out. Our Country depends on us all to get on the same page.
Remember divided we fall.
Report Post »broker0101
Posted on September 12, 2010 at 4:36pmBut raising taxes on would-be employers has NOTHING to do with it. How stupid do these people think we are?……Don’t answer that.
Report Post »notimeforthis
Posted on September 12, 2010 at 4:50pmIt wouldn’t surprise me if they have to create an emergency take-over bill. Take over all companies who have profits and are not hiring! Now wouldn’t that take care of that problem. Executive order!!!
Report Post »Slaves turn over thyne business! We need to feed the masses! Sounds omnipotent!
CherryBomb
Posted on September 12, 2010 at 4:34pmTrickle down poverty. Yee-ha!
Report Post »ProgressivesLoveAmerica
Posted on September 12, 2010 at 5:50pmI wouldn‘t say it’s about trickle-down poverty.
I would say something about the unemployment rate, though. Businessweek and other business-oriented periodicals are already talking about re-adjusting our goal as far as employment goes to about 6% or 7%. We can no longer set a goal of about 5% or 4% anymore. Too much has changed due to this recession.
That said, the traditional way of tackling unemployment since the 1980s has been to get “tough on crime.” By which I mean we round up huge numbers of the unemployed and throw them in jails. This really became popular during the Clinton years. It’s we artificially deflate our unemployment numbers: incarcerate the unemployed because they’re useless from the point of view of short-term profit making. It would cost too much money to educate the poor & unemployed. On the other hand, there’s lots of money to be made in prison construction. So this stimulates the economy.
Report Post »TomBurpee
Posted on September 12, 2010 at 7:10pm@PROGRESSIVESLOVEAMERICA
I‘m glad you’re here. Now my nightmares are affirmed and I can now no longer rest easy knowing there are real, living people.. As sick, twisted, and backward as yourself, and those who share the same view points as you. Where-as before hand, I was under the impression that only the moonbats in DC had such evil intentions for innocent Americans.
Anywho, thanks for destroying my sleep cycle!
Report Post »van
Posted on September 12, 2010 at 7:22pm@PROGRESSIVESLOVEAMERICA, I think you checked your brain when you logged in.
Report Post »Try again!
baldwin4freedom
Posted on September 12, 2010 at 7:22pm@PROGRESSIVESLOVEAMERICA
The traditional way of tackling unemployment since the 1980′s has been “to get tough on crime”
Well I am glad to get to discuss this because I noticed it when I was looking at some government statistics. The budget for our judicial system went up more than many other government agencies, starting in the 80′s. So, I agree that you are right.
This is a little proof that the government has been trying to fill the voids in the job market with government jobs. This helped offset the losses of private manufacturing jobs that were lost in the 70′s. I believe the war on drugs was a way to create jobs, not truly battle drugs.
Government jobs do not actually create any true wealth to America, and only lower the work ethic standards of more people every year that goes by. It takes eight government employees to accomplish what one good employee could do. It is not necessarily the employees, but the standard for production is weak. They do not create anything, so there is no reason to be productive. You know that old saying, robbing Peter to pay Paul.
On the other hand there is alot of money to be made in prison construction. So, this stimulates the economy.
This concept is ridiculous. Government money going into an area will not do anything for long term jobs or economic growth.
Private capital going into an area is the only way to possibely stimulate long term job or economic growth. Private enterprise, in general, is the only engine that truly produces wealth for an area.
I know some arguments are that private enterprise only exploits the labor force and natural resources. Well, some do and they get punished by the market. Maybe not as fast as one would like, but in time they still get punished.
When it comes to the labor force no one is making an individual work for any particulair employer. If the individual does not think that they are being compensated correctly then move on or better yet, look in the mirror and realize that they are not as good as they think they are. Get better at their job or move on to something that they like better. Just realize that if a person is going to do better for themselves they are going to have to get a few calouses on their hands and strain their brain, too.
Natural resources. They are there for us to use to live. Business has learned that it is to their benefit to use the resources wisely and minimize the damage to the environment. We must produce and process our own natural resources. Those that stand in the way of that do not have the welfare of our environment in mind. Only the destruction of our economy.
The United States of America must produce and process more resources for our use and export more than we import. Our economy is in a hole because we import more than we export. There is no true wealth creation, so our government has been utilizing Keynes theory to prop up our economy. Self-destruction. No, it is not all Obama’s fault. This crap started a long time ago, and almost all those alive do not know any different. This is why Obama’s agenda was to complete the move to some form of socialist standard like economy. We have been socialist lite for years.
They believed that it was the right time because there are so many on the dole in this country. They are finding out now that it is not going to be easy.
Report Post »PostProgressiveAmerican
Posted on September 12, 2010 at 8:03pmCome on guys – @ProgressivesLoveAmerica is participating in the discussion – if you find an alternate point of view so distasteful, maybe you should ask yuorself if it is because it challenges your beliefs and you don’t have a good argument, or if it is because you cannot tolerate opposition…either is unacceptable. Open, honest discussions are the only way America will be set right.
PLA, your argument supports my position that Government should be smaller…incarceration costs tax dollars, as does the employment of correctional officers and facilities construction and operations; since these positions make nothing, they are a drain on the economy. The ‘war on crime,‘ ’war on drugs,’ or any other effort of this ilk are counterproductive. Sure, unemployment figures go down on paper, but taxes skyrocket…the only ones who benefit are the politicians.
Smaller Federal Government, States Rights, and Lower Taxes for me!
Report Post »danglingbags
Posted on September 12, 2010 at 8:38pmEmployment Rate Recovery is always the last thing to happen after a recession. This is Economic 101 in all universities except the unacredited Beck U.
We ARE pulling out of this Bush Era Depression and lets have some optimism in this great country.
Report Post »PostProgressiveAmerican
Posted on September 12, 2010 at 8:54pmBush era? I think the causes go back much further, and both parties are to blame. The main thing here is that the current administration addressed it all wrong, prolonging the problem while ballooning the debt. In the end, things will be much worse for a much longer period of time.
Depression? I happen to agree there, but I believe politicians (both sides) call it a recession…
BTW, that post ALMOST made you sound like a rational human being :)
Report Post »Veritasvincit
Posted on September 13, 2010 at 3:16pm@PROGRESSIVESLOVEAMERICA
Again you cite numbers, perhaps they are statistically driven. Can you provide numbers on prision or county jail construction over the last ten years. If these construction projects stimulate growth in the economy then provide your data.
May be new prision construction has more to raising revenue. That is, housing other State’s prisioners for a fee.
I welcome your opinion but show me the facts. How much money is made. How many construction workers were employed. Unless you can provide the facts your giving me subjective opinion and we all can do that, can’t we.
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