Do believe that Congress and the former Obama administration or the current Trump administration are responsible...

Do believe that Congress and the former Obama administration or the current Trump administration are responsible for the current Economic situation? Make sure you discuss this in Economic terms.

Solutions

Expert Solution

It is the current Trump administration that is responsible for the current economic situation, because it is the administration that had reversed the policy of government spending on important sectors, while coming up with its own tax reforms. But, the tax reform was more helpful to the firms and bigger corporate, rather common people. This policy has not given a desired result and poor economic condition was looming large. Further, it is the Trump administration that started a trade war with China that is yet to be resolved, affecting domestic production and jobs as China also retaliated. Besides, Trump chose the course of Collison while dealing with Mexico and Canada in NAFTA and EU, making more enemies than the friend. In recent months, Trum administration completely ignored the warning od COVID-19 and did not prepare well. It led to huge loss of lives, economy moving to slowdown, and increasing number of cases of claims for unemployment benefits. So, it is the Trump administration that is responsible for the current economic problem.

Rahul Sunny answered 1 week ago

Next > < Previous

Related Solutions

Externalities. The Trump administration is trying to reverse an Obama administration rule restricting mercury pollution from...

Externalities. The Trump administration is trying to reverse an Obama administration rule restricting mercury pollution from power plants. (Mercury causes brain damage, learning disabilities and other birth defects in children; coal-fired power plants are the major source of environmental mercury.) The Supreme Court required the Obama administration to perform a cost-benefit analysis on the rule and the Trump administration claims that the economic benefits from reducing mercury are less than the costs of cleanup. In making this argument, the administration...

In 2013, Congress approved legislation proposed by the Obama administration to increase the income tax rate...

In 2013, Congress approved legislation proposed by the Obama administration to increase the income tax rate on high-income taxpayers from 35% to 39% when it repealed tax cuts implemented under the Bush administration. Using bond demand and supply analysis, explain what was the effect of this income tax increase on interest rates in the municipal bond market relative to those in the Treasury bond market?

Fiscal policy is a series of compromises. The Trump administration and congress passed a new tax...

Fiscal policy is a series of compromises. The Trump administration and congress passed a new tax law. In an essay form, describe the main components of the Senate Bill and the House bill (Generate a table) that led to the tax law and discuss the compromises that were made to reconcile the two bills. Additionally, evaluate the implications of the law on the following: Firms Not for profit organizations Rich and poor individuals Students Economy including the deficit-should we worry...

How is the economy? Who is responsible for the economy, President Obama, President Trump, both, neither?...

How is the economy? Who is responsible for the economy, President Obama, President Trump, both, neither? Taking into account tax cuts, inflation, and other factors, is the economy sustainable?

How is the economy? Who is responsible for the economy, President Obama, President Trump, both, neither?...

How is the economy? Who is responsible for the economy, President Obama, President Trump, both, neither? Taking into account tax cuts, inflation, and other factors, is the economy sustainable?

Need some background information on the Trump administration vs Obama administation's Solicitor General on behalf of...

Need some background information on the Trump administration vs Obama administation's Solicitor General on behalf of Mayors? And need help answering these questions regarding these administrations. 1) Who's paying the legal bills and who's funding the organizations/foundations that do? 2) What is their constitutional and legal argument? 3) What will be the political benefit to the backers if they win, in California? If they lose?

The Obama administration should "really open to change" by decriminalizing illegal drugs. The current administration recognizes...

The Obama administration should "really open to change" by decriminalizing illegal drugs. The current administration recognizes that US is the main market for Mexican drugs: "US demand for illegal drugs is insatiable," Secretary of State Hillary Clinton says. Thus, drugs have to be decriminalized in both the US and Mexico. Use a graph to represent the difference between the US demand and the Mexican demand for drugs.

Do you believe that the Federal Reserve should be controlled by Congress?

. Why do you think the Obama administration pursued a trade deal with Korea in 2012?...

. Why do you think the Obama administration pursued a trade deal with Korea in 2012? What were the potential economic and political benefits? What were the potential costs? 2).Is there any evidence that the 2012 free trade deal between the United States and South Korea was a “job killer” as claimed by president Trump? 3). What were the motivations of the Trump administration in renegotiating the 2012 deal? 4). Who benefits from the revised (2018) deal? Who might lose?...

Find an article about the current proposals and actions being taken by the Trump administration. Summarize...

Find an article about the current proposals and actions being taken by the Trump administration. Summarize the who stands to gain and to lose. Review both sides of the argument presented in the chapter, Pro-trade "Free Trade" and Anti-trade "Protectionist". Where do you stand on the issue? Site an article about the current direction the US Government seems to moving in. Recent decisions that have been made and actions that have been taken as well as proposals being discussed. What...

Subjects