Hubbard touts economic growth
Top White House economic adviser Allan Hubbard gave an upbeat report on the current U.S. economy Wednesday evening at the Rockefeller Center, during which he expounded on the benefits of free-market policies and fielded questions from a rapt audience. Hubbard, who said he meets with the president four to five times per week, is the assistant to the president for economic policy and director of the National Economic Council, an organization that advises the president on domestic and global economic policy. "My goal is to convince you that free markets lead to the best economies possible and benefit everyone, and centrally controlled economies are really not helpful and result in virtually everyone being hurt," he said. Hubbard pointed to the growth in the gross domestic product and relatively low levels of unemployment as he presented a positive analysis of the American economy. "The American economy is quite, quite strong," he said. Making an argument for free-market economics, Hubbard compared the American economy to the economies of France and Germany, both of which have higher unemployment rates and slower economic growth.