OFFLINE

Last night, the White House announced that Obama's top economic adviser, Austin Goolsbee, will step down from his position this fall to return to teaching at the University of Chicago. Coincidentally, this morning, The Washington Post led their front page with polling news that American's disapproval of how the president is handling the economy has reached "new highs" as the bin Laden-bounce finally dissipated.

Goolsbee, notes National Journal, was the face of the "White House White Board" project, which saw the Council of Economic Advisers Chairman relaying economic news and trends for the general audience. It was a mostly endearing exercise for pundits who enjoyed watching the adviser cover the resurrection of GM or explain the meaning of tax cuts. This fall, he'll be returning to the real white boards at the University of Chicago Graduate School of Business where he had taught for fourteen years before joining the president's team.

in other news

The public opinion boost President Obama received after the killing of Osama bin Laden has dissipated, and Americans’ disapproval of how he is handling the nation’s economy and the deficit has reached new highs, according to a new Washington Post-ABC News poll.

The survey portrays a broadly pessimistic mood in the country this spring as higher gasoline prices, sliding home values and a disappointing employment picture have raised fresh concerns about the pace of the economic recovery.

By 2 to 1, Americans say the country is pretty seriously on the wrong track, and nine in 10 continue to rate the economy in negative terms. Nearly six in 10 say the economy has not started to recover, regardless of what official statistics may say, and most of those who say it has improved rate the recovery as weak.

Overall, about six in 10 of those surveyed give Obama negative marks on the economy and the deficit. Significantly, nearly half strongly disapprove of his performance in these two crucial areas. Nearly two-thirds of political independents disapprove of the president’s handling of the economy, including — for the first time — a slim majority who do so strongly.

In another indicator of rapidly shifting views on economic issues, 45 percent trust congressional Republicans over the president when it comes to dealing with the economy, an 11-point improvement for the GOP since March.

The president has sought to point to progress on the economy, particularly in the automobile industry, and to argue that the policies he put in place at the beginning of his term are working. But the combined effects of weak economic indicators and dissatisfaction among the public are adding to the political pressures on the White House as the president’s advisers look toward what could be a difficult 2012 reelection campaign.

what COULD be?

OFFLINE

What good does it do for this economic advisor to step down (or maybe fired?) if all Obama's gonna do is appoint another one just like him?