Obamanomics

AAA

DEFINITION of 'Obamanomics'

A buzzword used to describe the economic philosophies of United States President Barack Obama. While Obamanomics encompasses all of President Obama’s policies and proposals, it is often used to refer primarily to his philosophy that the rich should pay their fair share of taxes, or what his detractors derisively call the “redistribution of wealth". Obamanomics may also include the President’s views on healthcare reform, although this often goes by the separate moniker of “Obamacare". Depending on one’s political persuasion, the term “Obamanomics” can be interpreted in a positive or negative light.

INVESTOPEDIA EXPLAINS 'Obamanomics'

While similar terms have been used to describe the economic policies of past Presidents, “Obamanomics” is arguably the most widely used term to describe a President’s policies since the days of “Reaganomics".

There are significant differences between the two, however. Critics of Obamanomics opine that apart from higher taxes on the wealthy, these policies call for more government intervention in the economy. This is diametrically opposite to “Reaganomics”, President Reagan’s supply-side policies that resulted in lower taxes for upper income levels and fewer government regulations.

Supporters of Obamanomics claim that given the dire financial situation of the U.S. economy – characterized by a soaring fiscal deficit and the strains put on Medicare by an aging population – President Obama has no choice but to make the tough decisions that will put the economy back on track.
 

RELATED TERMS
  1. Keynesian Economics

    An economic theory of total spending in the economy and its effects ...
  2. Fiscal Cliff

    A combination of expiring tax cuts and across-the-board government ...
  3. Bush Tax Cuts

    A series of temporary income tax relief measures enacted by President ...
  4. Kremlinomics

    A financial buzz word used to describe economic policies which ...
  5. Rose-Colored Recession

    The unexpected optimism market observers sometimes experience ...
  6. Clinton Bond

    A debt investment that is said to have no principal, no interest ...
Related Articles
  1. Understanding Supply-Side Economics
    Economics

    Understanding Supply-Side Economics

  2. The History Of Economic Thought
    Economics

    The History Of Economic Thought

  3. Talk Is Cheap: Campaign Promises And ...
    Insurance

    Talk Is Cheap: Campaign Promises And ...

  4. Explaining The World Through Macroeconomic ...
    Options & Futures

    Explaining The World Through Macroeconomic ...

comments powered by Disqus
Hot Definitions
  1. Odious Debt

    Money borrowed by one country from another country and then misappropriated by national rulers. A nation's debt becomes odious ...
  2. Takeover

    A corporate action where an acquiring company makes a bid for an acquiree. If the target company is publicly traded, the ...
  3. Harvest Strategy

    A strategy in which investment in a particular line of business is reduced or eliminated because the revenue brought in by ...
  4. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  5. Pareto Principle

    A principle, named after economist Vilfredo Pareto, that specifies an unequal relationship between inputs and outputs. The ...
  6. Pareto Principle

    A principle, named after economist Vilfredo Pareto, that specifies an unequal relationship between inputs and outputs. The ...
Trading Center