Steve Moore on Obamanomics
Steve Moore on Obamanomics can be found on the internet as well as in books written about the subject of Obamanomics. Steve Moore is an economist who has written books on the subject of economics and is well known in the field.
In order to understand Steve Moore on Obamaomics, you should learn a little bit about history and various economic policies that have been practiced over the years. The United States, at one time, was a purely capitalistic society. Capitalism is one of the principals on which the country was founded and gives anyone a chance to become wealthy. In the United States, anyone can start their own business and continue to make it grow through hard work and smart decisions. Most of the wealthiest people in the United States are entrepreneurs who started their own businesses basically from scratch. The United States has always been a breeding ground for those who are willing to take advantage of this opportunity.
There was, however, until the 1940s, a very large gap between working class individuals and wealthy individuals. Even during the Great Depression, many of the wealthy kept their money and, although they lost some in the stock market crash in 1929, still kept the bulk of their assets. During the Great Depression, the people who suffered most were the average working person. There were no safety nets back then, no unemployment insurance and no public aid. A new economic policy was needed and it was started by Franklin Roosevelt, one of the most popular presidents that the country has ever had.
After WWII, there was a rise in the middle class. If you read Steve Moore on Obamanomics, you will read about the rise in the middle class and how average working people were now afforded the luxury to buy homes. Much of this was created from the new economic plans as well as programs like the GI Bill, which allowed low interest loans for those who served their country during the war so that they could buy homes.
Steve Moore on Obamanomics also explores the growing dependence on foreign oil and how it impacted the nation. By the late 1970s, the country was in a recession. The war in Vietnam took its toll on the nation and the economy and by the late 1970s, the country was looking at interest rates that were about 16 percent. The housing market was dead as people could not afford mortgages. When President Reagan was elected, he instituted new economic policies to get America working again. These worked well for 25 years.
Over the past few years, there has been a steady decline in the quality of living in the United States in the working class. Steve Moore on Obamanomics examines this and discusses how a new economic policy can help Americans start to work again and put an end to the current recession which is rivaling that which occurred in the 1970s.