Austan Goolsbee
Austan Goolsbee
Austan Dean Goolsbeeis an American economist and the Robert P. Gwinn Professor of Economics at the University of Chicago's Booth School of Business. Goolsbee formerly served as the Chairman of the Council of Economic Advisers and was the youngest member of the cabinet of President Barack Obama...
NationalityAmerican
ProfessionEconomist
Date of Birth18 August 1969
CountryUnited States of America
thinking years two
I think actually the American people are pretty realistic. In polls they ask what do you think of the president's policies. Is he on the right track? They say yes. They ask them how long will it take for the economy to recover. And people are saying two years.
cutting average years
Cutting taxes for very high income people an average of more than $100,000 a year for people that make more than a million dollars a year is not an effective way to get the economy going.
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Cutting taxes for very high income people an average of more than $100,000 a year for people that make more than a million dollars a year is not an effective way to get the economy going.
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The U.S. fiscal union has worked, in no small part, by enabling subsidies to the Mississippis without requiring the approval of the Minnesotas. It creates an important form of insurance.
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There were 14,000 people at the rally for the president in Ohio. There were another 8,000 people in Virginia. If all 22,000 of those people opened their wallets and gave $1,000 each, that would be less than one donation from a billionaire to the super PACs. And that's why he's in for the fight of his life.
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Giving Northern Europe a veto over Southern Europe's budgets will not hold a monetary union together. The euro zone will continue to need the weaker countries to stomach decades of high unemployment to grind down wages.
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If you had asked people in 1929, 'Here is what is about to happen. How much would you pay to avoid the Great Depression from occurring?' The answer is they would have paid a lot. They would have borrowed money if it could be used to prevent the Great Depression.
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We enter the government essentially in a hotel that is on fire. We're throwing people from the windows into the pool to save their lives and this is the evaluation of the Olympic diving committee: Well, the splash was too big.
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The share of income that small business people are paying in taxes is the lowest it has been in 65 years - since Obama has cut taxes 18 or 22 times for small business.
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The data does not support that high-income tax cuts are the main drivers of growth, so I don't think that uncertainty over what the tax rate will be for someone that makes a million dollars a year has that big an impact on the economic growth rate in the country.
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I don't believe, the president doesn't believe, that the high income tax cuts work, period. I don't think the evidence supports that.
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I believe - I'm not a political expert, but I believe there is a broad consensus, a middle ground if you will, that Democrats and Republicans, business people and workers can agree on, to get this - the economy growing faster, getting people back to work.
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So more than 8 million people lost their jobs. It's going to take a significant push on our part and time before that comes down. I don't anticipate it coming down rapidly.
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We know there are a lot of people in the unemployment pool that do not match up in their skill set for what jobs are going to be created, and that's an area we've got to keep pressing on.