Macroeconomics 15th Edition by James Gwartney, Richard Stroup, Russell Sobel, David Macpherson

Exercise 5

"Bill Clinton reduced government spending and shifted the federal budget toward surplus, while Presidents Bush and Obama adopted the Keynesian policies of spending growth financed by borrowing. If we want to return to prosperity, we need to discard the Bush-Obama policies and return to those of President Clinton." Explain why you either agree or disagree with this view.