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Emanuel Says Austerity Debate Shouldn't Drive U.S. Agenda

Chicago Mayor Rahm Emanuel said President Barack Obama has a “new governing coalition” based on middle-class economics that will drive policy in his second term in office.

The president must “never allow the Washington talk of merely austerity to literally shout down and push to the side a middle-class, pro-growth economic agenda,” Emanuel, Obama’s former White House chief of staff, told Pimm Fox on Bloomberg Television’s “Taking Stock.”

Investment in energy and infrastructure are “the cores that propel an economy to grow,” he said.

The mayor said he expects Obama’s next four years to build on a plan that includes tax reform, research and development, making college education affordable and implementation of his 2010 Affordable Care Act.

“He now, because he got re-elected, has the ability and the liberty to implement his health-care bill, which was driven about making sure health care is affordable and accessible to middle-class families,” said Emanuel, 52, who took office as mayor of the third-most populous U.S. city in May 2011.

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