Obama adviser: US economy needs to be 'juiced' - KAIT Jonesboro, AR - Region 8 News, weather, sports

Obama adviser: US economy needs to be 'juiced'

WASHINGTON (AP) - President Barack Obama's top economic adviser says the administration wants to juice the economy and get it going faster amid signs of a continuing recovery in the new year.

Austan Goolsbee, who's chairman of the White House Council of Economic Advisers, tells ABC's "This Week" that administration efforts will focus on investment, exports and innovation.

Unemployment remains a sore spot at 9.8 percent. Goolsbee says previous forecasts for unemployment to average around 9 percent this year appear to be holding steady. He says initiatives under way, such as cutting payroll taxes and offering tax incentives to small businesses, are now coming into play to help.

Goolsbee also is warning against what he calls "playing chicken" with the need to raise the nation's debt ceiling.

For some conservatives, refusing to raise the limit on the federal debt would be a tactic to force the government into cutting spending, but Goolsbee says that refusing to raise the debt ceiling would push the country into default - and a far greater economic crisis than Americans saw in 2008.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

  • Region 8 News</span><a class="customMoreLink" href="/Global/category.asp?C=4391" target="_top">More >></a>Region 8 NewsMore>>

  • Local high school graduates inaugural senior class

    Local high school graduates inaugural senior class

    Friday, May 25 2018 11:05 PM EDT2018-05-26 03:05:02 GMT
    Friday, May 25 2018 11:36 PM EDT2018-05-26 03:36:46 GMT
    KIPP graduated their inaugural senior class. (Source: KAIT-TV)KIPP graduated their inaugural senior class. (Source: KAIT-TV)
    KIPP graduated their inaugural senior class. (Source: KAIT-TV)KIPP graduated their inaugural senior class. (Source: KAIT-TV)

    It's a milestone for the 36 graduating seniors for one local high school.

    It's a milestone for the 36 graduating seniors for one local high school.

  • Filing period ends for mayor's races in region

    Filing period ends for mayor's races in region

    Friday, May 25 2018 11:12 PM EDT2018-05-26 03:12:31 GMT
    Friday, May 25 2018 11:35 PM EDT2018-05-26 03:35:35 GMT
    (Source: AP Graphics Bank)(Source: AP Graphics Bank)
    (Source: AP Graphics Bank)(Source: AP Graphics Bank)

    The November general election may be several months away, but voters in Newport, Pocahontas, Searcy and several other towns already have municipal races to decide this fall. 

    The November general election may be several months away, but voters in Newport, Pocahontas, Searcy and several other towns already have municipal races to decide this fall. 

  • "Sweetpea" lives up to her name!

    "Sweetpea" lives up to her name!

    Friday, May 25 2018 7:40 PM EDT2018-05-25 23:40:53 GMT
    Friday, May 25 2018 10:50 PM EDT2018-05-26 02:50:02 GMT
    "Sweetpea" is a very good-natured four-legged friend. (Source: KAIT-TV)"Sweetpea" is a very good-natured four-legged friend. (Source: KAIT-TV)
    "Sweetpea" is a very good-natured four-legged friend. (Source: KAIT-TV)"Sweetpea" is a very good-natured four-legged friend. (Source: KAIT-TV)

    A “sweet” Brindle Terrier Mix awaits adoption at the Northeast Arkansas Humane Society.

    A “sweet” Brindle Terrier Mix awaits adoption at the Northeast Arkansas Humane Society.

Powered by Frankly