Tyler Goodspeed, acting chair of White House economic advisors

Tyler Goodspeed, who is the acting chair of the White House economic advisors is on the wires saying:

  • Very substantial headwinds still face US economy
  • Tremendously encourage by rehiring and hiring of workers in May – July
  • US labor market would definitely benefit from phase 4 stimulus legislation that keeps reducing unemployment
  • Expected shortfalls faced by state and municipalities far below the 1 trillion demanded by US House leadership
  • US would recover much faster and with much less scarring if additional support provided
  • US economic decline was less severe than in Western Europe, means US has shallower hole to dig out of
  • US officials closely engaged with G 20 members to mitigate risk of sovereign debt crisis
  • sovereign debt crisis at this this time would be downside risk to global economy

He started his comments with more of a cautionary tone, but ramped up his comments.