Austan Goolsbee, adviser to President Barack Obama, is to resign as the chairman of the Council of Economic Advisers.

Obama called Austan Goolsbee “one of America’s great economic thinkers.”

“Since I first ran for the U.S. Senate, Austan has been a close friend and one of my most trusted advisers,” Obama said. “Over the past several years, he has helped steer our country out of the worst economic crisis since the Great Depression, and although there is still much work ahead, his insights and counsel have helped lead us toward an economy that is growing and creating millions of jobs.”

A recent poll shows fifty-nine percent of adults gave Obama negative marks for his handling of the economy and a new low of 33 out of 100 adults approve obama's handling of the deficit issues, down from 39 in April!