I always try to be politically correct (or at least politically topical) in my blog posts. Now that President Obama has finally embraced the name for Obamacare, I’d like to introduce Obamanomics, which I found at the Investopedia website. Obamanomics is buzzword that describes the economic philosophy of U.S President Barack Obama. Obamanomics calls for lower tax rates for companies that meet certain criteria, such as providing decent healthcare and maintaining a U.S. workforce and headquarters. Obama’s economic platform also calls for higher taxes for high-income families and investment in education, healthcare and the sciences.
Obamanomics generally stands in opposition to supply-side, or “trickle-down”, economics , which holds that people (including the rich) should keep more of what they earn because they will spend that money, promoting economic growth. Obamanomics shares some similarities with Keynesian economics, which states that active government intervention and monetary policy can smooth out bumps in economic cycles and promote stability.