Quote:
Originally Posted by theking
News flash...Presidents do not have control of the economy...and zero power to fix the economy. For the most part the cyclic ups and down of the economy is caused by private enterprise and sometimes by laws passed by congress. Presidents have realative little power domestically other than the bully pulpit and do not controll the purse strings. A Presidents real power lies in foreign policy decisions.
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Not true. A President can help pass regulations that cover any number of industries. He can sign legislation that changes taxes, tariffs, and government spending. He also has the power to remove and add in members of the Federal Reserve.
While many of his decisions can be overrided by a Congress, a President still has power to dramatically affect an economy. The fact the President let the oil companies write the energy policies, Pharm companies write Medicare policies, and the banks write the financial policies had a dramatic impact on our country's economics.