Ryan or Obama? You decide!

Here are links to the transcipt of President Obama's deficit reduction speech from Wednesday as well as the full text of Congressman Ryan's proposal from last week. Though very different, each proposal has a direct impact on the role that the federal government will play in the economy for years to come.  After a careful review of each, please comment on which proposal will have the more positive impact on the economy and why.  Please be specific in your responses.  Since this can be a heated issue, please avoid the temptation for name-calling in your responses as this does nothing to further the debate.

http://www.whitehouse.gov/the-press-office/2011/04/13/remarks-president-fiscal-policy

http://paulryan.house.gov/UploadedFiles/PathToProsperityFY2012.pdf

New View 24.1, The New Deal

Should the government be the employer of last resort? 
After a careful reading of Chapter 24 and New View 24.1, please respond to the following:
In the most recent recession, the federal government bailed out banks and auto companies and left many unemployed individuals asking "where's my bailout?"  In the Great Depression, the government created the Works Projects Administration (WPA), the Civilian Conservation Corps and the Public Works Administration with the intent to provide at least temporary employment opportunities for those unemployed.  Some of these projects provided much needed new infrastructure.  At what point should the federal government intervene in the economy (if at all) and create similar jobs?  If they do, what projects would generate the greatest long-term economic growth?

New View 22.1, Prohibition

After reading New View 22.1 on Prohibition (page 401), please comment on the following:
Should the federal government make laws that impact what many view as private, personal behavior?
Libertarians have argued that it is an intrusion on personal liberties and have used the same argument to justify legalization of marijuana and other controlled substances.
What behaviors should or should not the government regulate, and to what extent?
What costs do these rules impose on society?

Immigration Policy

Immigration policy has been a hot issue both historically as well as today.  After reading "New Views" on page 324 of the text and Perspective 18.1 on page 326, please comment on what you would do today to deal with the challenges of both legal and illegal immigration.  Also, what are we doing as a state or nation to confront these challenges?  Be sure your comments cover all parts of this assignment.

Dorothy, the Wizard and the "Silver" Slippers

Okay, so Hollywood takes a little license in it's productions--nothing new there.  As we discussed in class, the slippers were silver in the original story, related to the demand to reintroduce silver into the economy's money supply.  The link below is the full story by economic historian Hugh Rockoff regarding the allegory of the Wizard of Oz and its historic cast of characters.  From your reading of chapter 15 and the article, how might history have been different if the "Cowardly Lion", William Jennings Bryan had been elected, or had they expanded the money supply as the farmers wanted?

Since this is a "what if" question, have some fun and be creative!  You may also want to comment on any aspect that was either interesting, new or surprising in light of any childhood experience you had with the Wizard of Oz.

http://cactus.dixie.edu/green/B_Readings/Hugh%20Rockoff%20%20Wizard%20of%20Oz.pdf

Chapter 14, The Civil War

After a careful reading of Chapter 14, please view the following videos and comment on the primary economic factors that favored the North in the Civil War.  What, if anything, might the South have done to gain an economic advantage?

A Central Bank for the United States

Thomas Jefferson referred to a central bank as "a menace to the liberties of the people".  Andrew Jackson vetoed the recharter of the Second Bank of the US.  Alexander Hamilton had a very different view of a central bank.  After a careful reading of chapter 12, please post your comments on which of the three had the best argument either for or against a central bank and why.

Commerce Clause of the Constitution

After reading the Constitution, either from the link on this blog or from the copies distributed in class, please comment on the following:
Article I, Section 8 contains what is commonly referred to as the Commerce Clause.  The tenth amendment to the Constitution deals with the issue of states rights.  Historically, the courts have upheld a broad range of legislation based upon the wording of the Commerce Clause.  Passage of the Affordable Healthcare Act hinged upon an even broader interpretation of the clause.  Following a suit filed by 26 states, a Federal court in Florida this week held that the law is unconstitutional. Here are two of the arguments: first, since the individual mandate requires all citizens to make a purchase of health insurance, it opens the potential floodgates to control other behavior--from the food you eat to what cars you drive or where you choose to live as examples.  There is nothing in the Commerce Clause that grants that much authority to Congress.  Second, healthcare is a states rights issue as interpreted from a reading of the tenth amendment.
What are your thoughts?

State of the Union 2011

Attached is the transcript of the State of the Union Address for 2011.  After reviewing the transcript, please comment on any similarities you see between the present economy and the colonial period.  Have we learned anything from our own history?  You may also want to review the Republican response or other related articles (there are links within the transcript).

http://www.npr.org/2011/01/26/133224933/transcript-obamas-state-of-union-address?ps=cprs

Chapter 4 Assignment

After reading Chapter 4 in the text, please post comments to the following questions: what were the immediate and long term potential impacts of the Early Navigation Acts on the colonial economy?  Were some colonies impacted more than others, and if so, why?

Economic Insight 2.2

After you have read Chapter 2, please read the Economic Insight 2.2 on pages 38-39.  Please post your comments on what factors favored British dominance of North America.