Difference between revisions of "Obamanomics"
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Obamanomics is diametrically opposed to [[Reaganomics]], embraces higher taxes, more regulation, more spending, and loose money.<ref>[http://online.wsj.com/article/SB123431484726570949.html Wall Street Journal: Reaganomics v. Obamanomics]</ref> Whereas Reaganomics jump started recovery during the 1980s, Obamanomics is expected to impede recovery. | Obamanomics is diametrically opposed to [[Reaganomics]], embraces higher taxes, more regulation, more spending, and loose money.<ref>[http://online.wsj.com/article/SB123431484726570949.html Wall Street Journal: Reaganomics v. Obamanomics]</ref> Whereas Reaganomics jump started recovery during the 1980s, Obamanomics is expected to impede recovery. | ||
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| + | ===Increased government spending=== | ||
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| + | ===Loose monetary policy=== | ||
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| + | ===Increased regulation=== | ||
===Tax increases=== | ===Tax increases=== | ||
Revision as of 18:08, May 20, 2010
Obamanomics is a term describing the 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 the value of the U.S. dollar plummeting[3], it has proven to be a failed system.
Key components of Obamanomics
Obamanomics is diametrically opposed to Reaganomics, embraces higher taxes, more regulation, more spending, and loose money.[4] Whereas Reaganomics jump started recovery during the 1980s, Obamanomics is expected to impede recovery.