George W. Bush's Stimulus Package Essay

"When George W. Bush was elected president in 2000, a major element of his platform was a cut in income taxes. Bush and his advisers used both supply-side and Keynesian rhetoric to make the case for their policy. (Full disclosure: The author of this textbook was one of Bush’s economic advisers from 2003 to 2005.) During the campaign, when the economy was doing fine, they argued that lower marginal tax rates would improve work incentives. But when the economy started to slow, and unemployment started to rise, the argument shifted to emphasize that the tax cut would stimulate spending and help the economy recover from the recession. Congress passed major tax cuts in 2001 and 2003. After the second tax cut, the weak recovery from the 2001 recession…

middle of the worst recession since the 1930s and major financial institutions were on the brink of bankruptcy. Americans faced a credit crunch which led to a shortage of financial mortgages, credit cards, automobiles, unemployment rates higher than ten percent, reduced incomes, and reduced disposable incomes in a collapse in confidence of the finance sector. The financial crisis and recession spread around the world. Many saw a risk that the global financial system might collapse perhaps…

created. As a result of Clinton’s economic policies, Bush’s budget deficit turned into a surplus, 22 million new jobs were created, the economy had a positive growth for a record 116 months-the longest expansion in our history and unemployment and inflation were at their lowest levels in more than 30 years (The Clinton Presidency: Historic Economic Growth). At the time the economy was humming I believe I made a fiscally sound decision. My second economic decision came in 1999. My husband and…

celebrities, and the connection between race and police brutality. Richard Wright would see Obama’s victory as a milestone for African Americans. Racism still existed in the country, but not enough to prevent a great leader from being elected. Obama was proof that an African American man can do anything a Caucasian man can do, which includes winning the presidential election. Not only was Barack elected, he had an extremely successful presidency where he was benefited America. In the…