FISCAL POLICY AND PRESIDENTIAL ELECTIONS
A final problem with the political business cycle theory is that other issues sometimes compete with the economy for voter attention. For example, in the 2004 election, President Bush- handling of the war on terror, especially the war in Iraq, became at least as much of a campaign issue as his handling of the economy.
SOURCES: Burton Abrams, “How Richard Nixon Pressured Arthur Burns: Evidence from the Nixon Tapes,†Journal of Economic Perspectives (Fall 2006): 177-188; Economic Report of the President, February 2007; Ray Fair, Predicting Presidential Elections and Other Things (Stanford, Calif.: Stanford University Press, 2002); and William Nordhaus, “Alternative Approaches to the Political Business Cycle,†Brookings Papers on Economic Activity, No. 2 (1989): 1-49.
Question: (CaseStudy: Discretionary Fiscal Policy and Presidential Elections) Suppose that fiscal policy changes output faster than it changes the price level. How might such timing play a role in the theory of political business cycles? Is this a valid role for fiscal policy? Discuss
Submit a 2-3 page (body) paper written and cited using APA format discussing the above case study and questions
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