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Flashcards in Mixed Making Policy Deck (30):
1

How policy can be achieved

Prohibiting certain behavior- murder
Protecting certain activities- environment
Promote activities- tax deductions for charity
Providing direct benefits- money or facilities

2

Issue attention cycle

Policymaking often depends on public opinion policymakers must act quickly before the public becomes bored and loses interest

3

Policy incrementalism

Slow step-by-step approach to make a policy to avoid unforeseen results and bitter disputes

4

Making policy

Agenda is set determines what is felt with
Policy formulated by executive order or congress or Supreme Court ruling implementation enforced by appropriate agency
Policy evaluation (does it work)

5

Policy fragmentation

Caused by many access points many pieces of legislation deal with parts of policy problems but never deal with the entire problem

6

Deficit spending

Funds raised by borrowing rather than spending contribute to the deficit

7

How fed implements monetary policy
Manipulating the reserve requirements

- which raises or lowers the amount of money banks are required to keep on hand raising the reserve shrinks the amount of money available for borrowing

8

How fed implements monetary policy Changing the discount rate-

raises or lowers the interest thanks paid to the federal reserve for borrowing money lowering the discount rate will lower the interest rates for consumer loans

9

How the Fed implements monetary policy manipulating open market operations

The federal reserve buys and sells US government bonds people buy
when the Fed sells bonds people withdraw money from banks to take advantage of the bonds high interest rate because the bank has less to loan consumer interest rates go up which lowers consumer spending & economic growth when the Fed buys bonds money flows back into the banks which increases money available for loans

10

Purposes of policy

Solving a social problems (such as high crime or high unemployment) countering threats (such as war) pursuing an objective (such as building a highway or finding a cure for cancer)

11

President's advisors on economic policy

Council of economic advisors
National economic council
Office of management and budget
Secretary of the treasury

12

Fiscal v monetary

Fiscal is budget
Monetary is money supply

13

Authorizations committees

Decide what programs congress what's to fund
Both houses

14

Appropriations committees

Decide how much money to spend
Both houses

15

Fiscal year

Year as reckoned for taxing or accounting purposes

16

Trade deficit

When imports exceed exports

17

General agreement on tariffs and trade (GATT)

Signed by the US evolved into the World Trade Organization WTO that reduces unfair trade

18

Great society

Programs under Johnson expanding gov welfare programs that eventually eliminated under Reagan

19

Public assistance programs

Help the needed not viewed as earned
Not required to pay into the system to get something out

20

COLA

Cost of living adjustment
Given to elderly on social security if inflation exceeds 3%

21

Main Groups that benefit from social security

Unemployed
Elderly
Poor
Disabled

22

Social welfare programs

Established first in the Social Security Act
Help targeted groups

23

Aid to families with dependent children AFDC

Largest and most controversial welfare program
Replaced by welfare reform act with Temporary Assistance for Needy Families TANF

24

Supplemental public assistance programs

SSI helps disabled and aged near the poverty level

25

Food stamps

Gov provided debit cards to use to buy food

26

Welfare reform act

Welfare Funded by both state and national government
New programs designed to get people off welfare and into work programs
Required adults to find work in two years
5 year lifetime limit
Illegal immigrants can't get assistance

27

GDP

Gross domestic product
Total of goods and services produced in a year

28

Health care reform

Mainly privately provided and paid for by employers and employees
Want national health care but don't want to pay for it
Possible taxes from alcohol or tobacco or sugary drinks
Lack of consensus

29

Patient Protection and Affordable Health Care Act

Obamacare biggest health-care legislation

30

National federation of independent businesses v. Sibelius

The individual mandate in 2014 the fine for not having insurance is constitutional