Obamanomics

Definition of ‘Obamanomics’

A buzzword that describes the economic philosophy of U.S President Barack Obama. Obamanomics calls for lower tax rates for companies that meet certain criteria, such as providing decent healthcare and maintaining a U.S. workforce and headquarters. Obama’s economic platform also calls for higher taxes for high-income families and investment in education, healthcare and the sciences.

Investopedia explains ‘Obamanomics’

Obamanomics generally stands in opposition to supply-side, or “trickle-down”, economics, which holds that people (including the rich) should keep more of what they earn because they will spend that money, promoting economic growth. Obamanomics sharessome similarities with Keynesian economics, which states that active government intervention and monetary policy can smooth out bumps in economic cycles and promote stability.

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