Discussion: US Government Reaction to Economic Crisis
Identify at least one aspect of the U.S. government's response to the economic crisis first discovered in 2009 that reflects rational choice behavior on the part of the Obama administration.
Identify at least one aspect of the Obama administration's response to the economic crisis SINCE 2009 that reflects Lindblom and Wildavsky's science of muddling through.
Describe the political consequences of these government responses by the Obama administration and explain.
Economic crisis here refers to the economic recession (i.e., two successive quarters of zero growth in the economy), a $14 trillion deficit, a 9% rate of unemployment (twice this number for certain minorities), housing market failure, the need to lift the debt ceiling, individual bank failures, major losses of individual savings/investments, Wall Street Bailouts, etc..