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Goolsbee: Unemployment Will Not Be "Coming Down Significantly In The Near Future"

AP: High unemployment must be met with tax cuts for the middle class, the new chairman of President Obama's Council of Economic Advisers said Sunday, but the U.S. can't afford an extension of the Bush-era cuts for high-income earners. Austan Goolsbee declined to speculate what the unemployment rate might be at the end of the year, but told "Fox News Sunday" that the middle class shouldn't get squeezed by expiring tax cuts. "The president strongly believes that ... after a decade of astounding squeeze on the middle class that was followed by the worst recession in our lifetime ... you cannot afford to raise taxes on the middle class. We should make that permanent," Goolsbee said.

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