Academic Perspective

With a new president, Barack Obama, Congress set out to tackle the president’s two biggest goals: to repair the economy and pass healthcare reform. A year later, new healthcare bills have been passed and the economy is on its way to recovery. But all these changes happened with no shortage of fanfare. 2009 was marked by raucous healthcare debate, media controversies, and economic turmoil. [...]

Since it became clear that the U.S. was in the midst of an economic recession in 2008, the federal government has invested trillions to promote economic stability and, eventually, growth. These investments can be classified into two primary categories: bank bailouts and broader economic stimulus. [...]

For an overview of the bailout and stimulus acts passed in response to the financial crisis of 2007-2009, please read The Bailout and Stimulus of the American Economy Economists have called it the worst financial crisis since the Great Depression. Unemployment is at its highest rate in nearly three decades. Companies are declaring bankruptcy right [...]