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The president and economics

Discussion in 'U.S. Politics' started by Libsmasher, Sep 27, 2008.

  1. Libsmasher

    Libsmasher Well-Known Member

    Jan 9, 2008
    Likes Received:
    How many dullwitted, unemployed, foreclosed fools out there are saying

    "Duhhhhhhh, it's all Bush's fault (slobber) - he's the president, right? (drool) - so it must be, duhhhhhhhhhhhhhhhhhh, his fault. I'll take my idiot-with-a-vote ass to the polls and vote for Obama."

    The president has limited effect on the economy. All spending bills originate in congress. He can approve or veto bills, but he can't originate them. Further, as my economics prof used to say, comparing fiscal policy (spending by congress) with monetary policy (the actions of the federal reserve) insofar as their effects on the economy, is like comparing a pea shooter to a cannon. The federal reserve is an independent regulatory agency, ie, it operates independent of congress and the president. Likewise, there are other independent regulatory commissions. Presidents may have a rare opportunity to appoint a head of the fed, but his choices are approved by congress. All squared away on this now? Good! :)

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