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Obama Adviser: Private Sector is Key to Economic Recovery


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Fox News:

The Obama administration has shifted from the "rescue phase" to encouraging private sector development to push the economy off the slow burner, one of President Obama's key economic advisers said Sunday, arguing that the latest reports of a faltering economy are not a trend in the making.

Austan Goolsbee, chairman of the president's Council of Economic Advisers, said the government has moved from efforts focused on saving the economy to a phase in which policies are aimed at "trying to leverage the private sector and give incentives" for growth.

Speaking on ABC's "This Week," Goolsbee said a review of agency regulations to ensure rules aren't too costly, onerous or outmoded and a Social Security payroll tax break are encouraging businesses to continue adding to its record of 1 million new jobs in the past six months.

On top of that, free-trade agreements, increased exports and investment in an "infrastructure bank" to leverage government investment against private capital are critical to moving the economy forward.

"We passed a tax policy in December, which has come into place this year and will continue over the course of this year, to put -- to give a payroll tax of $1,000-plus to 150 million workers and to give direct incentives for business to start investing. And they've accumulated money on their balance sheet," he said.

"Our effort now as a government should be to get the private sector, to help them stand up and lead the recovery. The government is not the central driver of recovery," Goolsbee added.

Now they tell us. So does that mean more Obamacare waivers will be available?
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