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Eli Cohen, Clay Christmyer , Luke Mogle

Stimulating the Economy. Eli Cohen, Clay Christmyer , Luke Mogle. http://static.seekingalpha.com/uploads/2009/8/11/saupload_housing_crisis_cartoon.png. Definition of an economy : The wealth and resources of a country, includes production and consumption of goods and services

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Eli Cohen, Clay Christmyer , Luke Mogle

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  1. Stimulating the Economy Eli Cohen, Clay Christmyer, Luke Mogle http://static.seekingalpha.com/uploads/2009/8/11/saupload_housing_crisis_cartoon.png

  2. Definition of an economy: The wealth and resources of a country, includes production and consumption of goods and services • Touches every aspect of society • Determines the following: • How much your house is • What the value of your dollar is worth • How much money your parents make • How many christmas gifts you get this year • How much you pay for college…etc How does it affect you?

  3. The Stock Market Crash of 1929 • Most devastating stock market crash in the history of the U.S. • Caused the 1930’s great depression • 1973 Market Crash • Affected all major stock markets in the world • Caused a recession in the 70’s • Compounded by the outbreak of the ‘73 oil crisis History of Economic Crises

  4. Depression: • Recession: a decline in the Gross Domestic Product (GDP) for two or more consecutive quarters Depression vs Recession

  5. Fewer restrictions on big business • Cut taxes for businesses • Lower taxes • Less government control, “ free market” Republican Views

  6. More restrictions on big business • Increased taxes on wealthy • More action by government to stimulate the economy Liberal Views

  7. Rapid growth of industries and production • Low unemployment, roughly 4.2% • Federal spending was at $0.57 billion • Growth in new business, Bethlehem Steel, Planters Nuts and Chocolate Company and Harley Davidson etc. 1900’s

  8. New business and production methods led to greater profits of businesses • Increased incomes • People willing to buy goods 1920’s

  9. Cain Republicans plans to stimulate the economy in 2012

  10. Obama Democrats plan to stimulate the economy in 2012

  11. Other parties views to stimulate the economy

  12. What Republicans say about Liberals plan

  13. What Democrats say about republicans views

  14. Peoples opinion

  15. $6.4 Billion from stimulus package goes to phantom districts • U.S. congressional districts are areas created after each census to select members for the House of Representitives. • Nearly $6.4 billion was used to “create or save” just under 30,000 jobs in phantom congressional districts which is about $225,000 a job Controversies

  16. Public Opinion Poll "Americans' Perceptions of Job Market Worst in a Decade." Gallup.Com - Daily News, Polls, Public Opinion on Government, Politics, Economics, Management. Web. 20 Nov. 2011. <http://www.gallup.com/poll/150704/Americans-Perceptions-Job-Market-Worst-Decade.aspx>. Support EasyBib! Try

  17. Bad • Obama’s $787 billion stimulus bill was intended to keep the unemployment rate from exceeding 8 percent. In November, it topped 10 percent (2008) http://www.heritage.org/research/reports/2010/01/why-government-spending-does-not-stimulate-economic-growth-answering-the-critics#_ftn8 • Good • American Recovery and Reinvestment Act created or saved as many as 3.3 million in 2010 http://www.bloomberg.com/news/2010-08-25/obama-s-economic-stimulus-program-created-up-to-3-3-million-jobs-cbo-says.html# Evidence/Statistics

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