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A failed domestic agenda

The Bush administration had planned a series of free-market reforms, but corruption, scandals, and Democrats in Congress made these goals hard to accomplish. Plans to convert Social Security into a private-market mechanism relied on the claim that demographic trends would eventually make the system unaffordable for the shrinking number of young workers, but critics countered that this was easily fixed. Privatization, on the other hand, threatened to derail the mission of the New Deal welfare agency and turn it into a fee generator for stock brokers and Wall Street financiers. Similarly unpopular was the attempt to abolish the estate tax. Labeled the “death tax” by its critics, its abolishment would have benefitted only the wealthiest 1 percent. As a result of the 2003 tax cuts, the growing federal deficit did not help make the case for Republicans.

The nation faced another policy crisis when the Republican-dominated House of Representatives approved a bill making the undocumented status of millions of immigrants a felony and criminalizing the act of employing or knowingly aiding illegal immigrants. In response, millions of illegal and legal immigrants, along with other critics of the bill, took to the streets in protest. What they saw as the civil rights challenge of their generation, conservatives read as a dangerous challenge to law and national security. Congress eventually agreed on a massive build-up of the U.S. Border Patrol and the construction of a seven-hundred-mile-long fence along the border with Mexico, but the deep divisions over immigration and the status of up to twelve million undocumented immigrants remained unresolved.

Hurricane katrina

One event highlighted the nation’s economic inequality and racial divisions, as well as the Bush administration’s difficulty in addressing them effectively. On August 29, 2005, Hurricane Katrina came ashore and devastated coastal stretches of Alabama, Mississippi, and Louisiana. The city of New Orleans, no stranger to hurricanes and floods, suffered heavy damage when the levees, embankments designed to protect against flooding, failed during the storm surge, as the Army Corps of Engineers had warned they might. The flooding killed some fifteen hundred people and so overwhelmed parts of the city that tens of thousands more were trapped and unable to evacuate ( [link] ). Thousands who were elderly, ill, or too poor to own a car followed the mayor’s directions and sought refuge at the Superdome, which lacked adequate food, water, and sanitation. Public services collapsed under the weight of the crisis.

An aerial photograph shows the tops of rows of houses and trees that are otherwise entirely underwater.
Large portions of the city of New Orleans were flooded during Hurricane Katrina. Although most of the city’s population managed to evacuate in time, its poorest residents were left behind.

See pictures of the aftermath of Hurricane Katrina and read and view accounts of survivors of the disaster.

Although the U.S. Coast Guard managed to rescue more than thirty-five thousand people from the stricken city, the response by other federal bodies was less effective. The Federal Emergency Management Agency (FEMA), an agency charged with assisting state and local governments in times of natural disaster, proved inept at coordinating different agencies and utilizing the rescue infrastructure at its disposal. Critics argued that FEMA was to blame and that its director, Michael D. Brown, a Bush friend and appointee with no background in emergency management, was an example of cronyism at its worst. The failures of FEMA were particularly harmful for an administration that had made “homeland security” its top priority. Supporters of the president, however, argued that the scale of the disaster was such that no amount of preparedness or competence could have allowed federal agencies to cope.

Questions & Answers

differentiate between demand and supply giving examples
Lambiv Reply
differentiated between demand and supply using examples
Lambiv
what is labour ?
Lambiv
how will I do?
Venny Reply
how is the graph works?I don't fully understand
Rezat Reply
information
Eliyee
devaluation
Eliyee
t
WARKISA
hi guys good evening to all
Lambiv
multiple choice question
Aster Reply
appreciation
Eliyee
explain perfect market
Lindiwe Reply
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
Ezea
What is ceteris paribus?
Shukri Reply
other things being equal
AI-Robot
When MP₁ becomes negative, TP start to decline. Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Kelo
yes,thank you
Shukri
Can I ask you other question?
Shukri
what is monopoly mean?
Habtamu Reply
What is different between quantity demand and demand?
Shukri Reply
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
ok
Shukri
how do you save a country economic situation when it's falling apart
Lilia Reply
what is the difference between economic growth and development
Fiker Reply
Economic growth as an increase in the production and consumption of goods and services within an economy.but Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
Abdisa Reply
any question about economics?
Awais Reply
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
thank you so much 👍 sir
Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50. A,Calculate quantities of x and y which maximize utility. B,Calculate value of Lagrange multiplier. C,Calculate quantities of X and Y consumed with a given price. D,alculate optimum level of output .
Feyisa Reply
Answer
Feyisa
c
Jabir
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
Gsbwnw Reply
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
Abdureman
types of unemployment
Yomi Reply
What is the difference between perfect competition and monopolistic competition?
Mohammed
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Source:  OpenStax, U.s. history. OpenStax CNX. Jan 12, 2015 Download for free at http://legacy.cnx.org/content/col11740/1.3
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