Read the following two statements taken from a Forbes article in December 31, 2013.

Statement  1: “there is a certain crowd in Washington who, for the last few  decades, have said, let’s respond to this economic challenge with the  same old tune. The market will take care of everything, they tell us. If  we just cut more regulations and cut more taxes – especially for the  wealthy – our economy will grow stronger. Sure, they say, there will be  winners and losers. But if the winners do really well, then jobs and  prosperity will eventually trickle down to everybody else. And, they  argue, even if prosperity doesn’t trickle down, well, that’s the price  of liberty.”

Statement 2: “there is a certain crowd in Washington  who, for the last few decades, have said, let’s respond to this economic  challenge with the same old tune. The government will take care of  everything, they tell us. If we just pile on even more regulations and  raise taxes – especially on the wealthy – our economy will grow  stronger. Sure, they say, there will be winners and losers. But if the  losers are protected by more social programs and a higher minimum wage,  if there is more Quantitative Easing by the Fed., then jobs and  prosperity will eventually trickle up to everybody else. And, they  argue, even if prosperity doesn’t trickle up, well, that’s the price of a  social safety net.”

These statements are based upon the US  economy and different, well-known, economic governmental philosophies  implemented frequently. These are very BIG economic statements which  means these statements refer to many different aspects of macroeconomic  government policy. During this course, we have already discuss some some  portions of these theories and will eventually discuss other portions  of these theories.

1. Which philosophy do you agree with? Why?  Narrow down your thoughts to one aspect of these macroeconomic policies,  i.e taxes (more or less), government spending, government welfare  spending, monetary growth, effects of government regulation, etc.

2.  Find at least TWO ECONOMIC  journal articles that either agrees with or  disagrees with the philosophy that you have chosen in #1. 

3. Find a popular press article that argues the OPPOSITE

3.  Summarize your journal article as it refutes your popular press  article. This summary should be in terminology that could be understood  by your fictional high school senior. 

4. Your summary should be at least 500 words.

Your assignment MUST focus on economic issues. 
Your assignment will be counted off one point for each minute that it is submitted late. 
Assignments  that do not meet assigned word count, do not address economic issues,  or do not addres similarity issues via TurnItIn, will have grade  deductions accordingly.