Economy / Politics

Economics for Politicians Chapter 3: Introduction to Macroeconomics – So that’s how government spending fits in! [Reader Post]

Welcome back, humble politician! Now that you understand the basics of how economics work on an individual (microeconomic) level, in this lesson you will learn how all of these choices roll up on a national level, or Macroeconomics. In the second economics class that you probably slept through during your pre-law school days the concept of GDP, or Gross Domestic Product was introduced. Put simply, GDP is the sum of all economic activity. You’ve no doubt seen a chart showing GDP growth before that looks something like this:

Barack Obama / Congress / Economy / Obamanomics / Politics

Obamanomics vs. Reaganomics [Reader Post]

Last week, for the first time in history, US debt was cut to below AAA. That wasn’t supposed to happen. For months we saw President Obama and the media pillorying conservatives for inviting Armageddon by opposing the lifting of the debt ceiling without substantive cuts in government spending. When the “Hobbits,” as the Wall Street Journal dubbed them, were undone by the squishy wing of the GOP and we had our “grand compromise,” that was supposed to avoid a downgrade.

Barack Obama / Baracks Broken Promises / Culture of Corruption / Deception and Lies / Economy / Obama Euphoric-Rapture Syndrome / Politics / propaganda bureau

Reagan brought the Soviet Union to its knees but it took Barack Obama to bring the United States to its knees [Reader Post]

Back in April Timmy Geithner said there was no chance that the US credit rating would take a hit.

Treasury Secretary Tim Geithner said Tuesday there is “no risk” the U.S. will lose its top credit rating amid a new analysis that revised its outlook on American debt to “negative.”