Regarding the Fiscal Policy Responses to the 2007-2009 Recession, the Congressional

Multiple Choice

Regarding the fiscal policy responses to the 2007-2009 recession, the Congressional Budget Office (CBO) found that:

A) the Bush Administration's fiscal policy worked, but the Obama Administration's did not.
B) the Obama Administration's fiscal policy worked, but the Bush Administration's did not.
C) both the Bush Administration's fiscal policy and the Obama Administration's fiscal policy worked.
D) neither the Bush Administration's fiscal policy nor the Obama Administration's fiscal policy worked.Economic historians report that both tax cuts and increased government spending were successful in stimulating the U.S.economy.