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Obama and his Achilles' heel: The economy

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    How did the president fare when he had to defend his record before the American people at the debate?

  • Duration 4:35
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I'm -- kneecap me that's -- the voters do care about Austan Goolsbee is the former chairman president Obama's house of economic advisors he joins us now I still read talking Austin.

Great -- IS -- says the economic question about let me ask you the overall since I asked -- the overall question what do you think about tonight said debate.

You know I I I am and then never been a fan of the judges of the debates viewing it like it was Ultimate Fighting Championship by -- got they got the wrong way to think about the debate in just the asking who -- I actually thought.

-- was confrontational.

The debate was a highly substantive they would do a lot of substance and it.

And billion yes -- questioners were kind of candidate -- sometimes they were reading that well off their cards.

I thought the questions were were really good substantive questions that I thought it was it was pretty informative.

Like kept a list jabs GM MGM -- gas prices keystone energy policy taxes inequality in the work place for women Bush Administration Libya outsourcing jobs immigration.

Biggest misperception about them assault weapons and federal drilling however I didn't hear anything no.

Yeah I think that's fair point you know I thought clearly the that -- residents.

And supporters.

Are happy that this was the presentation.

And there were were -- in that this was the presentation that that was their last -- I thought Mitt Romney.

Did pretty solidly in explaining his side of the case and it sounded a lot like.

The level of energy and kind of a concise this that was there in the first debate so.

I don't think there was a lot that was new but I thought each each of the candidates did a pretty good job and -- in my view of explaining.

Look here's what I'm floor and here's what I am -- -- in the other guy.

And you know they kind of left it to the audience let you decide.

Here's where I think they're wrong and we're gonna have to -- to the fact checkers you know they got -- a couple of points but there's no that's not true yes that is true.

But fortunately this time they kind of said well well let's that we're we're gonna leave that to tomorrow for the fact checkers and you know put pitted it.

OK so let me get the economic question how do you think gas prices down because said there on the very high now and -- -- down.

Well look I I thought they error but it's quite -- leaving.

For Romney to consistently.

Be dating the increase -- gas prices from the day Obama took office because as Obama said.

We -- in the middle of a massive decline in the economy and that's why gas prices went -- the way you want to get gas prices down his not.

By changing the economy.

I think.

The ways you gotta do it.

In the short run it's obviously much harder than in the -- I think you got out open up new possibilities.

For oil exploration.

You got to try to do everything it can't to reduce geopolitical uncertainty which oftentimes you know what she -- you get some of these issues in the Middle East weather with.

I -- or in other parts of the Middle East back and add ten to thirty dollars to the -- -- per barrel to the price of oil so I think.

Getting some control of the -- policy would be important I wonder if that'll come up in the foreign policy debate.

And then the third I think thinking through.

Getting access to alternative energy sources and improving our own energy efficiency to save money I think those are totally legitimate ways.

So I suppose does reflect a sense if all this I have green and achieve that missile and the thing comes to mind with an awful lot of problems that we've haven't some of -- -- -- -- in this administration which is that I think -- look.

That's -- there there have been some it has it hasn't been as bad if you look at the totality as if you just take the with the one that failed.

But the fuel side is slightly different from that kind of generating electricity which are a lot of us solar and wind kind of companies.

I think on the fuel sides.

The discoveries of of natural gas and the possibilities that opens -- -- our truck -- state convert some of those areas.

And just trying to improve the refining capacity.

And read remove the geopolitical uncertainty though the kind of the only things you can do in the in the short to medium run.

And it's it's not that easy to get the price of gas down if the economy starts picking up because he got that extra demand.

But does -- nice thank you -- Nice to see again.