Hello Class,
Congress which is comprised of the house and the Senate both are closely intertwined with the President of the United States. Traditionally The President will give updates to Congress in the form of “State of the Union” address. Some things that may “come up” or be brought to attention during the speech could include the economy, military, medical, supply chains, industry, etc. The United States economic policy prior to the 20th century abided by a laissez-faire policy. However that has since changed with the Great Depression which introduced Keynesian economics of the belief that government should manage the economy. If we take the Presidents “power” at face value as it pertains to the economy its marginal at best, but where it gets complicated the Executive powers mainly deal with foreign affairs, ordering military actions, and making appointments to the courts. Congress enacts all laws and controls the Spending, and of course the supreme court ensures that both entities comply with the U.S Constitution. The President has the authority over enforcing or not enforcing laws passed by congress. For example according to Kahler financial group President Bush didn’t enforce some environmental laws however President Obama did enforce them. This may not directly impact the economy, it is a way of indirectly impacting the economy affecting businesses and consumers by simply not enforcing or enforcing certain laws. I have included and article that shows how both the executive and legislative powers have agreed over economic goals.
Anon, Inflation reduction act passed by the US house. Inflation Reduction Act passed by the US House : Energy & Environment – World Nuclear News. Available at: https://www.world-nuclear-news.org/Articles/Inflation-Reduction-Act-passed-by-the-US-House [Accessed August 23, 2022].
– FLOYD HOEFLER
