The president and Congress must work together to have an impact on the economy. “Economic growth is a long-term measure of prosperity, and no one President can single-handedly create an environment the promotes sustained economic growth. Future economic growth requires investment in technology, machines and equipment, and human capital today,” (Babb, 2020). The Congress which is the House of Representatives, and the Senate must create bills that the president will sign into law. The president can veto a bill if he does not think it is best for the people and the Congress can override a veto. A bill that was create and sign into law to help the economy in the last few weeks was the Inflation Reduction Act. This bill has a lot of things in it to help the American people. It will help lower inflation with can give a boost to the economy. It will help with prescription drugs. A lot of people would like to see inflation go down before a recession happen and this bill can help. The bill was passed by all the Democrats in the House and Senate voting for it. When the Senate is split the vice president will cast the deciding vote. The President was on board from the start regarding doing this bill and signing it into law. When the constitution was made, the Farmers made sure to have separate of power because they did not want one branch of government to have to much power. They wanted it to be check and balances. In an article by Pandit (2022) about the Inflation Reduction Act, it describes how it can affect the economy. Some ways that were talked about in the article are helping with inflation, the deficit, profits, and help with fiscal policy outlook. A lot of people want to see improve when it comes to getting help with the economy.
Babb, C. H. (2020). How the Presidential/Congressional Mix Affects the U.S. Economy. Retrieved on 08/24/2022, from https://themreport.com/
Pandit, M. (2022) The Inflation Reduction Act advances key climate goals on the Administration’s agenda while reducing the deficit over the next decade. Retrieved on 08/24/2022, from https://am.jpmorgan.com/
-Earnestine Waller
