The White House's Economic Pivot

Change is in the air at the White House, on the economic team specifically.

In: GE CEO Jeff Immelt
Out: Paul Volcker

In: President's Council on Jobs and Competitiveness
Out: President's Economic Recovery Advisory Board

The shift: This new board moves the White House's focus from stabilizing the economy after the 2008 financial meltdown to generating private sector ideas to speed up economic growth. Jobs, jobs, jobs!

"Our job now is putting our economy into overdrive," President Obama said after he toured a GE plant in Schenectady, N.Y.

The White House points out that the idea of competitiveness is an important theme because we are not only competing with other Americans, but with other nations.

"The future belongs to us," the President said in closing.