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Economic policy of the Obama administration

Economic policy of the Obama administration is a science topic covered in the lgStudy science library. This page brings together a partial reference excerpt, illustrations, worked examples, real-world applications and a short study plan, so you can understand Economic policy of the Obama administration rather than just read about it. In short: The economic policy of the Barack Obama administration, or in its colloquial portmanteau form "Obamanomics", was characterized by steep tax increases on higher income Americans designed to fund health care reform, reduce the federal budget deficit, and decrease income inequality. President Obama's first term (2009–2013) included measures designed to address the Great Recession and subprime mortgage crisis, which beg…

Economic policy of the Obama administration — main illustration
Economic policy of the Obama administration — illustration

Key takeaways

  • Economic policy of the Obama administration belongs to science; place it in that map before memorising details.
  • Learn the definition first, then one example that makes the definition concrete.
  • Connect Economic policy of the Obama administration to a quantity you can measure, compute or draw — that is where exam questions come from.
  • Reproduce the core statement of Economic policy of the Obama administration from memory before moving on to harder problems.

Reference excerpt

The economic policy of the Barack Obama administration, or in its colloquial portmanteau form "Obamanomics", was characterized by steep tax increases on higher income Americans designed to fund health care reform, reduce the federal budget deficit, and decrease income inequality. President Obama's first term (2009–2013) included measures designed to address the Great Recession and subprime mortgage crisis, which began in 2007. These included a major stimulus package, banking regulation, and comprehensive healthcare reform. As the economy improved and job creation continued during his second term (2013–2017), the Bush tax cuts were allowed to expire for the highest income taxpayers and a spending sequester (cap) was implemented, to further reduce the deficit back to typical historical levels. The number of persons without health insurance was reduced by 20 million, reaching a record low level as a percent of the population. By the end of his second term, the number of persons with jobs, real median household income, stock market, and real household net worth were all at record levels, while the unemployment rate was well below historical average.

Overview

… excerpt ends here. Continue reading the full article.

Illustrations

Economic policy of the Obama administration illustration
Economic policy of the Obama administration illustration
Economic policy of the Obama administration: Job Growth by U.S. president, measured as cumulative percentage change from month after inauguration to end of term.
Job Growth by U.S. president, measured as cumulative percentage change from month after inauguration to end of term.
Economic policy of the Obama administration: 2016 was the first year U.S. real (inflation-adjusted) median household income surpassed 1999 levels.
2016 was the first year U.S. real (inflation-adjusted) median household income surpassed 1999 levels.
Economic policy of the Obama administration: Non-farm job creation averaged approximately 200,000/month for 73 months from October 2010 to October 2016, a robust rate by historical standards. The unemployment rate fell from 10% to less than 5%.[21][22]
Non-farm job creation averaged approximately 200,000/month for 73 months from October 2010 to October 2016, a robust rate by historical standards. The unemployment rate fell from 10% to less than 5%.[21][22]

Worked examples

Example 1 — a first encounter with Economic policy of the Obama administration

Start with the simplest possible case. Write down what Economic policy of the Obama administration claims or describes in one sentence, then invent the smallest concrete situation in which that sentence is true. In science, the smallest case is usually a single object, a single equation or a single measurement. Check that every symbol or term in your sentence has a meaning in that case.

Example 2 — changing one variable

Take the situation from Example 1 and change exactly one quantity: double it, halve it, or set it to zero. Predict what should happen to Economic policy of the Obama administration before you calculate. Comparing your prediction with the result is the fastest way to find out whether you understand the idea or only the words.

Example 3 — an exam-style question

Typical questions about Economic policy of the Obama administration ask you to (a) state it precisely, (b) apply it to given data, and (c) explain a limitation. Practise writing all three answers in under five minutes; the third part is what separates a full-mark answer from an average one.

Applications of Economic policy of the Obama administration

In research
Economic policy of the Obama administration appears in science research whenever the underlying quantities have to be modelled precisely. Papers usually cite it as a starting assumption and then explore where it breaks down.
In technology and industry
Engineering practice reuses Economic policy of the Obama administration in design rules, simulations and safety margins. Knowing the idea lets you read a specification sheet and understand why the numbers look the way they do.
In the classroom
Economic policy of the Obama administration is common in secondary-school and first-year university syllabi. It links to neighbouring topics Economic policy by United States presidential administration, Policies of Barack Obama, Presidency of Barack Obama, so understanding it makes those chapters shorter.
In everyday life
Look for Economic policy of the Obama administration outside the textbook — in sport, cooking, traffic, electronics or the sky above you. An example you found yourself is remembered far longer than one you were given.

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How to study Economic policy of the Obama administration in 20 minutes

  1. Read the reference excerpt below once, without taking notes.
  2. Close the page and write down what Economic policy of the Obama administration means in your own words.
  3. Compare your version with the excerpt and mark what you missed.
  4. Work through the three examples above with pen and paper.
  5. Explain Economic policy of the Obama administration out loud to somebody else — or to Teacher Smith in the lgStudy chat.

Frequently asked questions

What is Economic policy of the Obama administration in simple terms?

The economic policy of the Barack Obama administration, or in its colloquial portmanteau form "Obamanomics", was characterized by steep tax increases on higher income Americans designed to fund health care reform, reduce the federal budget deficit, and decrease income inequality. President Obama's…

Why does Economic policy of the Obama administration matter?

Because it connects several science ideas at once: it gives you a definition you can apply, a quantity you can calculate, and a way to check whether a result is plausible.

How should I study Economic policy of the Obama administration?

Read the excerpt, restate it from memory, then work through the examples and applications listed on this page. The five-step study plan above takes about twenty minutes.

What does this page cover?

It gives you a compact reference excerpt plus original lgStudy explanations, examples, applications and study material on Economic policy of the Obama administration.

Tags

  • Economic policy by United States presidential administration
  • Policies of Barack Obama
  • Presidency of Barack Obama

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