Myth- The President is responsible for the economy?

Myth- The President is responsible for the economy?

Matthew Jones (Political Science Instructor) gives expert video advice on: Myth- The President controls the US budget?; Myth- The President can abolish the IRS?; Myth- The President is responsible for the economy? and more...

Yes, the President does have some influence over the economy and these are exercised through things like cutting taxes, which tends to be a Republican President sort of a thing; or increasing federal spending to try and create more jobs. But that doesn't necessarily have this direct impact on the economy as much as it's trying to create some more jobs to get people spending a little bit more, to create a different mood so that the people who really do have power over the economy: business leaders; stockholders; and most importantly the American consumer, which is the millions and millions of people who go and buy stuff, will feel more willing to go and buy stuff. So it's the American consumer and business leaders and stockholders that have power over the economy. The American President just influences that around the margins.