Difference between revisions of "Obamanomics"
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| − | '''Obamanomics''' is a school of economic thought and policy being pushed by the [[Obama Administration]]. Its main doctrine is massive government spending (as evidenced by the | + | '''Obamanomics''' is a school of economic thought and policy being pushed by the [[Obama Administration]]. Its main doctrine is massive government spending (as evidenced by the [[American Recovery and Reinvestment Act of 2009]]) in excess of $1 trillion, which is funded by massive borrowing through U.S. Treasury bonds<ref>[http://www.amherstwire.com/2009/03/06/faq-obamas-economic-stimulus-package/ ''Amherstwire.com'': "FAQ: Obama's Economic Stimulus Package"]</ref>. With unemployment at 10.2% as of October 2009<ref>[http://www.newsmax.com/newsfront/jobs_lost/2009/11/06/282644.html ''Newsmax'': "U.S. Jobless Rate Hits 10.2%; 190,000 Jobs Lost"]</ref> and inflation also rising since the beginning of Obama's term, it is proving to be a failed system. |
==References== | ==References== | ||
{{reflist}} | {{reflist}} | ||
Revision as of 23:23, November 6, 2009
Obamanomics is a school of economic thought and policy being pushed by the Obama Administration. Its main doctrine is massive government spending (as evidenced by the American Recovery and Reinvestment Act of 2009) in excess of $1 trillion, which is funded by massive borrowing through U.S. Treasury bonds[1]. With unemployment at 10.2% as of October 2009[2] and inflation also rising since the beginning of Obama's term, it is proving to be a failed system.