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U.S. Economy: Standing Still or Standing Up?

The next 12 to 18 months will be slow and painful, but America's fundamentals support longer-term optimism, says University of Chicago economist Austan Goolsbee.

Ben Johnson: Our speaker today during lunch is someone who really had a front seat to some of the worst of the financial crisis. Austan Goolsbee was the chair of President Obama's Council of Economic Advisers.

Having, I think, paid his dues, no one can blame him for taking a new tack and coming back to Chicago, where he is now a professor of economics down the road at the University of Chicago.