Question:
Assess President Obama and the Congressional Majority Democrats' stimulus, budgetary, and health care initiatives in the context of promoting Economic Growth and Development. In your view, are the Democrats' policy initiatives aimed more at encouraging Economic Growth or Economic Development? Or are they aimed at both? Defend your assessment accordingly. In doing so address these questions:
What were the challenges that these policy makers perceived at the time in terms of both the Business Cycle and broader social policy?
What theories did the Democrats use to justify their policies, both enacted and proposed, regarding taxes, spending, and the historic health care reform bill? Can one theory account for all of these policies?
Perhaps it was more than academic theories and immediate macroeconomic conditions. What ideological legacies may have been motivating the Democrats in their choice of eventual policy initiatives when they finally returned to power in 2009? As such, maybe the related planks in their 2008 National Platform offer some useful insights. Along these lines, briefly explain why Republicans were almost unanimous in their opposition to these initiatives.
In your assessment, do not get caught up in the minute details of the bills, just their broader economic and political significance when taken together and their role in encouraging Economic Growth and/or Development. Since it remains an open question as to just how effective these policy initiatives have been or will be, do not feel that you must offer definitive data in some form here. Just present your best arguments and supporting data as concisely and clearly as possible.