The Obamanomics versus Reganomics debate was held September 27th by the Conservative Voice and the Writers for Liberty in the Wilden Hall room 228.
The discussion/debate had a panel consisting of Brian Hawkins, Derek Flinn, Joshua Mileage and Brett Friesen as discussion leaders. There were approximately 20 students in attendance. The discussion started with statements by the night’s discussion leaders and finished with a question and answer forum.
With Obamanomics being much more liberal and Reganomics a more conservative view, the two sides re-created the classic political battle of Left Wing vs. Right Wing.
While President Regan’s time in office has come and gone, his views and actions on the economy are still present in how many members of Congress cast their votes and assessments in political economic issues today. Reganomics are a belief that the economy can be saved by tax cuts and cuts to the federal budget, while trying to create more jobs at the same time.
While the conversation was at times purely one sided, the mediators and discussion leaders did their best to explain the economical policies of President Obama. Including the opposing stance to Reganomics, by spending more and pushing more money into the economy while increasing taxes.
One topic was the recent survey finding that one in every seven Americans lives in poverty. What was debated was whether spending more and giving poverty level based families cuts of the stimulus package is an ideal solution to this economical problem.
The discussion wrapped up with whether the government should, or should not bail out banks and credit unions, which are failing and nearing bankruptcy. One fear was that foreign banks would buy out the banks and gain a foothold on the U.S. economy. The other fear was that the government does not have the money to spend on said banks and credit unions.