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Goolsbee: Get the Private Sector Up & Investing

Thursday, 30 Jun 2011 | 11:21 PM ET
AUSTAN GOOLSBEE, Economic Recovery Advisory Board Chief Economist
AP
AUSTAN GOOLSBEE, Economic Recovery Advisory Board Chief Economist

Three years ago, Austan Goolsbee left his position at the University of Chicago’s Booth School of Business to join, then, Senator Barack Obama on his journey to the White House. Now, as Chairman of the President’s Council of Economic Advisors, Goolsbee is preparing to leave his post as one of the President’s longest-serving policy advisors and return to academia.

Bartiromo sat down with Goolsbee today at the Aspen Ideas Festival where he gave a few words of advice for future growth in the U.S. economy. “ I wouldn’t advise the President to raise taxes,” Goolsbee said. “The most important thing the United States can do is invest in its people. We've got to get the private sector up and investing.” (Watch the full interview here.)

Outside of the economy, Goolsbee also talked about the news circulating over the potential departure of Treasury Secretary Timothy Geithner. “He's a good friend…I know his overwhelming focus is get this debt ceiling and deficit reduction bit worked out. I don't have any details on personnel decisions,” Goolsbee added.

Crystal Lau contributed to this article.

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