The chief architect of President Obama’s economic plan and Republican rival Mitt Romney’s top economic strategist squared off in a preview of the likely fall debate on the economy, challenging each other on whether the president’s policies have helped or hurt the economic recovery.

Watch the interview with George Stephanopoulos on ABC News

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 The monthly jobs report released Friday showed greater-than-expected growth, with 243,000 new jobs added in January, as the unemployment rate dipped to 8.3 percent. That powered the stock market to its highest closing level since the 2008 financial crisis.

Read more: George Stephanopoulos - President Obama and Mitt Romney Advisers Square Off on the Economy