Obama's First Speech to Joint Congress

Obama emphasizes three important issues to rejuvenate the economy: education, health care and energy. He says the U.S. is lagging behind other countries like Japan and China. We should be leading- we invented Solar Energy yet the U.S. isn’t investing in the production of renewable energy like the other countries. Obama spoke about higher education and better health care. He’s hopeful and he will begin the commitment to confronting the three issues next week.



Keynes and Marx- Obama’s a Keynesian

There’s always been a question whether government should play a role in the economy. Keynes and Marx were the 2 leading economists of our time; Keynes supported government action and said it was essential, whereas Marx criticized the capitalist system and believed in laissez faire- to allow events to take its course.

Keynes said there will always be unemployment in a laissez faire market place. Government is essential to produce employment, to balance an unstable economy and end economic recessions or depressions. Obama is a Keynesian.

Obama said in his speech to Congress today, “ I reject the view that says our problems will simply take care of themselves; that government has no role in laying the foundation for our common prosperity.”