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Understanding U.S. Public Policy: Economic, Social Welfare & Foreign Affairs

Explore U.S. policy-making processes, economic decision-making, social welfare programs, and defense budgeting. Learn about the key players in foreign and military policy, environmental regulations, and the impact of different economic theories on decision-making. Delve into the complexities of taxes, entitlements, monetary and fiscal policies, and the significant influences on policy outcomes. Gain insights into the challenges and benefits of various approaches to shaping public policies in the United States.

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Understanding U.S. Public Policy: Economic, Social Welfare & Foreign Affairs

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Presentation Transcript

  1. NEED TO KNOW: Unit 5 Public Policy

  2. Chapter 17 Policy-making process

  3. Policy-Making Process • Costs vs. Benefits; Distributed vs. Concentrated • Majoritarian Politics • Distributed Costs, Distributed Benefits • Ex, Social Security, National Defense • Interest Group Politics • Concentrated Costs, Concentrated Benefits • Ex, Labor Disputes • Client Politics • Distributed Costs, Concentrated Benefits • Ex, Pork-Barrel Legislation • Entrepreneurial Politics • Concentrated Costs, Distributed Benefits • Ex, Superfund

  4. Chapter 18 Economic policy

  5. Economic Decision-Making • Deficit • Spending more than Revenue • National Debt • TOTAL owed • All deficits since beginning of USA – today = $17 Trillion • Economy and Politics • Pocketbook Voting • Troika – President’s economic advisors • CEA – expert analysis • OMB – helps prepare budget • Secretary of Treasury – link to finance industry

  6. Economic Theories • Monetarism • Fix economy by regulating the money supply • Keynesianism • Government should SPEND to stimulate economy • Economic Planning • Government should use wage and price controls to direct economy • Supply-Side Theory • Tax cuts will lead to increased productivity • Reaganomics • Mix of Supply-Side tax cuts, decreased domestic spending, monetarism, and increased military spending – Successful in short-term, terrible in long term

  7. Monetary Policy • Monetary Policy = Supply of money, interest rates • Federal Reserve is in charge of Monetary Policy • FED • 7 members of Fed Board (appointed & confirmed) • 14 year, non-renewable terms • 12 Regional FED banks • 6,000 Member banks • Independent of Prez and Congress? • What the Fed Does • Buy & Sell bonds to increase/decrease money supply • Require banks to keep money on hand (affects interest on loans) • Change interest rates

  8. Fiscal Policy • Fiscal Policy = Taxing and Spending (Prez & Congress) • Federal Budget • Process: Prez & OMB prepare budget proposal, send to Congress • Congress studies budget with CBO & pass Budget Resolutions (budget ceiling). • Specific Appropriations bills need to be passed individually • New budget amount based on previous year • Mandatory Spending (Entitlements) vs. Discretionary Spending • Largent Mandatory = Social Security & Medicare (2/3 of budget) • Largest Discretionary = Military • Entitlements = required spending on programs to help those who qualify • Attempts to bring down budget deficit • Gramm-Rudman-Hollings • Caps on Spending, Sequester • Budget Enforcement Act of 1990 • Pay-as-you-go approach

  9. Taxes • Largest Sources of Revenue • Income Taxes (US tax rates much LOWER than World) • Payroll Taxes (Social Security) • Corporate Income Taxes • Kinds of Taxes • Proportional – Same %, no matter the income • Progressive – Higher income = Higher % • Income Tax • Regressive – Higher income = Lower % • Sales Tax

  10. Chapter 19 Social welfare

  11. Social Welfare • Entitlements • Means-Test = only for people below certain income level • Social Security = biggest entitlement • Contributory (we pay into it – so do employers) • May go bankrupt soon-ish • Medicare (old people – no means test) vs. Medicaid (poor people – means test) • AFDC (welfare) – very controversial – no longer exists

  12. Chapter 20 Foreign and military policy

  13. Foreign Policy Groups • Sec of State • Diplomacy • Sec of Defense • Administrative (Civilian) Head of Military • Joint Chiefs of Staff • Military leaders of each branch • National Security Council • Prez, VP, Sec of State & Def, Chairman of JCoS, NSA

  14. Congress vs. President • Congress • Declare War • Power of the Purse • Oversight • War Powers Resolution • Approve Treaties and Ambassadors • President • Commander-in-Chief • Treaties • Ambassadors • Power of the Public • The 2 Presidencies

  15. US Military • Civilian Control of the Military • Chain of Command • Defense Budget • Bigger than other top 11 nations combined • Defense Cuts very difficult • Military-Industrial Complex • Defense Contractors too powerful • War is used to make profit

  16. Chapter 21 Environmental policy

  17. Environmental Policy • EPA • Global Warming Debate • Pollution • Offsets • Bubble Standards • Pollution Allowances • Superfund

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