John F Kennedy Fiscal Policy Essay

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John Fitzgerald Kennedy (JFK) ran for office against Richard Nixon during the recession of 1960. JFK took office January 20, 1961, becoming the 35th President of the United States; he was assassinated November 22, 1963. JFK, during his brief time in office he was known for his foreign policy actions to stern communist expansion in Cuba, Berlin and with nuclear weapons. These national crises eclipse his impact on the U.S. Economy, which he was not as we'll known. Contractionary Monetary Policy caused the recession of 1960, as the federal Reserve raised interest rates to curb a growth rate from 1959; with a shrinking economy and unemployment at its highest by the time of the election of 1960—President Kennedy and his administration adopted fiscal …show more content…

JFK fueled the economy by investing in domestic, military, and space programs; also known as Kennedy’s New Frontier. “Anyone who is honestly seeking a job and can’t find it, deserve the attention of the United States government, and the people.” (John F. Kennedy, 1961) President Kennedy proposed to give aid to education, medical care for the elderly, mast transit, as well as a regional development in Appalachian, helping the impoverished community for decades. Kennedy signed the Housing Act of June 30th 1960 to aid middle income families and mass transportation users while also increasing urban renewal. Unfortunately, congressional support was limited; many of JFK’s proposals were shot down by a conservative congress ran by Republicans and conservative …show more content…

The tax cuts succeeded, evident bolstering the economic expansion that had begun under Kennedy resounded to the credit of professional economists and Neo-Keynesian economics in the United States. The remainder of the 1960s saw the economics profession at a high watermark of its influence. The Kennedy-initiated tax cuts have been viewed variously as triumph of modern economic analysis and rational, technically based public policy or as the beginning of the end of fiscal responsibility and the start of an inflationary

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