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Flashcards in Public Policy Deck (38):
1

Purposes of Public Policy

Three Purposes:
-Solving a Social Problem
-Countering Threats
-Pursuing An Objective

2

Issue-Attention Cycle

Requires policy makers to act quickly, before the public becomes bored and loses interest

3

Incrementalism

The slow, step-by-step approach to making policy

4

Agenda Setting

Identifies the social and economic problems, redefines them into political issues, and ranks them in order of importance

5

Policy Formulation/Adoption

Can be accomplished through the legislative process in Congress or by using executive orders

6

Policy Implementation

Puts the policy into effect by enforcement through the appropriate government agency

7

Policy Evaluation

Seeing whether or not the policy implemented actually works

8

Policy Fragmentation

Where many pieces of legislation deal with parts of policy problems but never deal with the entire problem

9

Mixed Economy

Both government and private industry play a role in the economy

10

Laissez-Faire

Belief that the government should never become involved in the economy

11

Keynesian Economics

Holds that the government can smooth out business cycles by influencing the amount of income individuals and businesses can spend on goods and services

12

Deficit Spending

Funds raised by borrowing rather than taxation

13

Supply-Side

Argument that the government should cut taxes and spending on domestic programs to stimulate greater production

14

Reserve Requirement

The amount of money banks are required to keep on hand

15

Discount Rate

The interest banks pay to the Federal Reserve Banks for borrowing money

16

Open Market Operations

The Federal Reserve can buy/sell government bonds

17

Office of Management and Budget (OMB)

Responsible for initiating the budget process

18

House Ways and Means Committee

Deals with the taxing aspects of the budget

19

Authorization Committees

Decide what programs Congress wants to fund

20

Appropriations Committees

Decide how much money to spend for those programs that have been authorized

21

Budget Reform Act of 1974

Created the Congressional Budget Office

22

Congressional Budget Office

Has budget committees in both houses of Congress that set their own revenue and spending levels

23

1990 Budget Enforcement Act

Was an effort to streamline the budget process and make it easier to arrive at a compromise budget

24

Mandatory Spending

Spending that is required by law in order to fund programs (Social Security, Entitlement Programs, Medicare)

25

Discretionary Spending

Spending that is not required by law to fund programs (Defense, Education, Highways, Research Grants, and Government Operations)

26

Balance of Trade

The ratio of imported products to exported products

27

Trade Defecits

Occur when imports exceed exports and cause wealth to flow from a nation

28

General Agreement on Tariffs and Trade (GATT)

Works to lower tariffs and quotas and reduce unfair trade practices (Group evolved into the World Trade Organization (WTO))

29

North American Free Trade Agreement (NAFTA)

United States, Canada, and Mexico effectively removed import tariffs from one another

30

Social Insurance Programs

Are national insurance programs into which employers and employees pay taxes

31

Public Assistance Programs

Are a result of condition and a government responsibility to help the needy

32

Cost of Living Adjustment (COLA)

Help recipients of Social Security maintain the standard of living (Put a strain on Social Security)

33

Medicare

Provides government assistance to people older than 65 for health care

34

Medicaid

Provides medical and health-related service for low-income parents, children, seniors, and people with disabilities

35

Supplemental Public Assistance Programs (SSI)

Help the disable and the aged who are living at or near the poverty level

36

Food Stamps

Meant to improve the diet and increase the buying power of the poor

37

Welfare Reform Act (1996)

Meant to reduce the number of people living on public assistance (Established TANF, required adults to find work within two years, placed a limit of 5 years to live off of welfare, prohibits illegal immigrants from getting assistance)

38

Patient Protection and Affordable Health Care Act (Obamacare, 2010)

Allows the federal government to fine individuals who do not participate in an insurance program