The fiscal policy implemented in the US during the Great Recession
Was John Maynard Keynes Right” about you are the Economist. Then, research the fiscal policy implemented in the US during the Great Recession. Explain the Economic Stimulus Act of 2008 and the American Recovery and Reinvestment Act of 2008. Discuss if these programs are Keynesian or Classical. Please include how increases in aggregate demand through government expenditures and tax cuts (through the multiplier effect) increase GDP in your answer.
Here are a few resources for you:
(feel free to use other credible sources and cite your references in your discussion post)
Bush Signs Stimulus Bill (ESA of 2008) http://www.cnn.com/2008/POLITICS/02/13/bush.stimulus (Links to an external site.)
Links to an external site.
Obama’s Stimulus Package ARRA 2009 http://vm136.lib.berkeley.edu/BANC/ROHO/projects/debt/americanrecoveryact.html (Links to an external site.)
Links to an external site.
The US Economic Stimulus Plan 2009 (Links to an external site.)
Links to an external site.
