Answer the following question with at least 2 references per question.
1- US entry into WWI was initially opposed by the majority of Americans, and it was only in the last year of conflict that president Wilson felt able to send significant number of troops. Why did he do this, and what was the effect on the United States economy during and after the immediate end of this war?
1- Franklin Roosevelt assumed the presidency at the beginning of 1933, following Herbert Hoover, who had approved of the Feds actions. The unemployment rate was rapidly approaching 25%.
a) Why was this rate so astoundingly high?
b) What did Roosevelt do in his first term to stimulate the economy?
2- Roosevelts economic advisors panicked in late 1936 that the federal budget was becoming too large, and called a halt to Roosevelt programs. What happened, and in consequence what was the form of public sector intervention after 1937, right up to and including WWII?
1- Beginning with Reagan in the 80s, United States government deficits have ballooned, with Obama hitting the first trillion-dollar mark at least once (probably more). Discuss the consequence of this for our presumed debt burden which now exceeds our annual GDP, including current issues such as increased income inequality, low productivity, and political unrest.
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