Pfeiffer On Economy: "We Shouldn't Focus On Any Individual Month"
DAN PFEIFFER, OBAMA SENIOR ADVISER: The end of the payroll tax cut is hurting Americans because it means there's less money in their pockets, less money to spend on small businesses, less money to spend while they are shopping. So, that does have an impact on the economy. There's no question about that.
I think it's important to look at the overall picture on the economy. We have made a lot of progress, 6.5 million private sector jobs created over the last three years. The housing market is coming back, manufacturing is coming back. The American auto industry is back, but there is more to do.
And so, we shouldn't focus on any individual month because if we created 290,000 jobs this month, I would have given you the same answer, which we are making progress, but we'll have to do more.
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