Answer: !! DO NOT COPY, OR YOU CAN GET PLAGIRISM !!
Step-by-step explanation:
Yes, President Barack Obama’s economic policy was largely defined by an embrace of Keynesian economics. Keynesian economics is a macroeconomic theory that advocates for increased government spending and lower taxes to stimulate demand and pull the global economy out of recession.
During the Great Recession of 2007-2009, President Obama took several steps that reflected Keynesian economic theory. The federal government bailed out debt-ridden companies in several industries and took into conservatorship Fannie Mae and Freddie Mac, the two major market makers and guarantors of mortgages and home loans.
Obama’s overall approach to stabilizing the economy was defined by an embrace of aggressive government intervention in line with Keynesian theory, tax relief for small business, and robust regulation with continued oversight of financial markets.
Although the state of the economy is inarguably stronger than when President Obama took office in early 2009, the rise of technology in our new global economy, and the aggressive Republican opposition he faced at all levels, makes detailed study of his economic policy integral to a complete understanding of his legacy.