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Obama's Top Economic Adviser Steps Down

Austan Goolsbee
Austan Goolsbee

The White House announced Monday that President Obama's top economic adviser, Austan Goolsbee, will be stepping down this summer in order to return to teaching at the University of Chicago Graduate School of Business.

Goolsbee has worked side by side with Obama since his 2004 Senate race and served as his senior economic policy officer during his 2008 presidential campaign. Since the start of Obama's term, Goolsbee has been a part of the three-member economic council.

"Since I first ran for the U.S. Senate, Austan has been a close friend and one of my most trusted advisers," Obama said. "Over the past several years, he has helped steer our country out of the worst economic crisis since the Great Depression, and although there is still much work ahead, his insights and counsel have helped lead us toward an economy that is growing and creating millions of jobs."

Goolsbee replaced Christina Romer as council chairman when she returned to a teaching position at the University of California, Berkeley. We're sure he wants to get back to what he loves, but maybe he's just burned out. We can only hope that his replacement is up to the task of reviving our flagging economy and getting us out from under the crushing burden of high unemployment.


Read more at MSNBC.

In other news: Weiner: I Sent Photo, Won't Resign.

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