What is Obamanomics?
Obamanomics refers to the economic policies of former United States President Barack Obama.
How Does Obamanomics Work?
In general terms, the primary focus of Obamanomics was economic stimulation in the wake of recession. Central components of this have included increases in government spending, reduced energy use, a series of $250 tax cuts for certain taxpayers and tax increases for other taxpayers, programs intended to provide foreclosure relief for certain homeowners, health care reform, and expansions in unemployment benefits.
Why Does Obamanomics Matter?
Because the components of the Obama Administration's economic plans have met with varying degrees of success, the term Obamanomics can have a negative or positive connotation, depending on the user's politics.