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This is a 12 page paper that provides an overview of economic policies. The policies of Reagan and Obama are compared and contrasted. Bibliography lists 4 sources.
Page Count:
12 pages (~225 words per page)
File: KW60_KFobama1.doc
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the other functions of politics and government, including the maintenance of defense, the administration of public programs, the making of laws, and so on, all fall under the dominion of
overarching economic concerns. Another way of putting this is simply that, no matter the ideology promoted by any particular political party, it is ultimately the basic material conditions of life
that dictate the "political" strength of any given country, not ideology. This is why economics is such a critical aspect of politics, and why it continues to be a hotly
contested issue to this very day. This paper will examine the economic policies of Ronald Reagan and Barack Obama in an attempt to explore the link between ideology and economics.
The 2008 presidential election was predated by months of debates. This in itself is not unusual, but this particular round of debates seemed to possess an inherent focus on
economic matters much higher than typical. When Obama eventually won the presidency of the United States, he inherited an economy in shambles and was faced with the challenge of restoring
it. This was in many respects similar to the situation faced by Ronald Reagan when he took office in 1980. The economy having been stressed by a diminished work force,
hyper-inflation, and a large deficit stemming from mired involvement in an "unwinnable" foreign war, Reagan was not in an enviable position. Nevertheless, Reaganomics, the economic policies employed by Reagan, have
been widely regarded as immensely successful in turning the economy around throughout the 1980s. A staunch conservative, Reagans policies reflect this ideological position, and for that reason, many in the
economically liberal Democratic party, the party to which Obama belongs, have decried Reaganomics. Conversely, in contemporary times, many conservatives lambast "Obamanomics", the economic policies instituted by Barack Obama. However, a
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