Chapter 15 Notes
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This 4 page Class Notes was uploaded by Megan Koh on Sunday April 24, 2016. The Class Notes belongs to POLS 1101 at Clayton State University taught by Sara Henderson in Spring 2016. Since its upload, it has received 11 views.
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Date Created: 04/24/16
Chapter 15 Megan Koh • Public policy: the set of laws, regulations, and rules that aﬀects the whole of society.▯ • Social policy: rules, regulations, and policymaking pertaining to the quality of life, welfare, and relations of human beings in the United States. ▯ Five stages of policy:▯ 1. The recognition/deﬁnition stage▯ —in which objectives to be fulﬁlled and goals to be pursued through policy are ﬁrst identiﬁed and deﬁned according to hot the problem ﬁts within existing policy categories, and then prioritized.▯ 2. The formulation stage▯ —in which various alternative courses for this policy are considered and a preferred course is selected.▯ 3. The adoption/legitimation stage▯ —in which the policy under consideration assumes the authority of law through ratiﬁcation by Congress or through regulations issued by the relevant administrative agencies. 4. The implementation stage▯ —in which a bureaucratic agency translates law into action through the adoption of administrative regulations and the dedication of agency resources to carry out the policy.▯ 5. The evaluation stage▯ —in which the policy is assessed for its worth and eﬀectiveness in meeting its original objectives and goals. ▯ FISCAL POLICY▯ • Fiscal policy: decisions by the federal government that relate to raising revenue through taxation and spending the revenue that is thereby generated.▯ • Inﬂation: the overall general upward price movement of goods and services in an economy, normally measured by the consumer price index (CPI).▯ • Recession: an economic slowdown characterized by high unemployment, reduced productivity, or other negative economic indicators.▯ • Laissez-faire economics: ﬁscal policy theory that favors minimal intervention in the nation’s economy.▯ • Keynesian economic theory: ﬁscal policy theory that favors government taxation and spending during diﬃcult economic times.▯ • Supply-side economics: economic theory that favors cutting taxes as a way of increasing conic productivity.▯ ▯ Assessing the economy’s performance:▯ 1. Gross domestic product▯ • Gross domestic product (GDP): an estimate of the total money value of all the goods and services produced in the United States in a one-year period.▯ 2. Consumer price index▯ • Consumer price index (CPI): an index of prices for goods and services regularly traded in the U.S. economy.▯ 3. The unemployment rate▯ 4. The budget deﬁcit/surplus▯ Budget deﬁcit: the amount of money spent by the U.S. government beyond that which it • collects in taxes and other revenue in a single year.▯ • Budget surplus: the amount by which the U.S. government’s revenue exceeds its spending in a given ﬁscal year.▯ 5. The national debt▯ • National debt: the total sum of the federal government’s outstanding debt obligations.▯ Chapter 15 Megan Koh 6. The Dow Jones IndustrialAverage▯ 7. Housing starts▯ 8. Consumer conﬁdence index (CCI)▯ 9. Balance-of-trade ﬁgures▯ ▯ House appropriations bills:▯ 1. Agriculture, Rural Development, Food and DrugAdministration, and related agencies▯ 2. Commerce, Justice, Science, and related agencies▯ 3. Defense▯ 4. Transportation, Housing and Urban Development, and related agencies▯ 5. Energy and Water Development▯ 6. State, Foreign Operations, and related programs▯ 7. Homeland Security▯ 8. Interior, Environment, and related agencies▯ 9. Labor, Health and Human Services, and Education▯ 10. Financial Services and general government▯ 11. Legislative branch▯ 12. Military Quality of Life andVeteransAﬀairs▯ ▯ Taxation policy:▯ • Redistributive tax policies: taxation policies that aim to provide a social safety net to meet the minimum physical needs of citizens.▯ • Distributive tax policies: taxation policies intended to promote the interest of all classes equally.▯ • Progressive tax: a tax whose eﬀective rate on an individual’s income increases as the person’s income rises.▯ • Flat tax: a tax policy that draws money from all entities at the same proportion of their income.▯ ▯ Spending policy:▯ • Budget authority: the power of federal departments and agencies to incur obligations to sepdn or lend money.▯ • Outlays: the amount of money a government agency will actually spend during a ﬁscal year▯ • Mandatory spending: federal government spending that is not controlled by annual budget decisions; included entitlements such as Medicare and Social Security.▯ • Discretionary spending: forms of federal government spending that Congress can modify or eliminate in any given year, including spending on education, the environment, and national defense.▯ ▯ MONETARY POLICY▯ • Monetary policy: regulation of the money supply and interest rates by a central bank, such as the U.S. Federal Reserve Board, in order to control inﬂation and stabilize the currency.▯ • Federal Reserve System: the central banking system of the United States, which controls the nation’s money supply.▯ • Federal Reserve Board: the Federal Reserve System’s Board of Governors, which votes on monetary policy in the United States, supervises the nation’s banks by setting rules for the 12 Federal Reserve Banks, and engages in open market operations.▯ Chapter 15 Megan Koh • Discount rate: the rate (expressed as a percentage) that all Federal Reserve member banks and other depository institutions will be charged by the Federal Reserve Banks to borrow short-term funds.▯ • Open market operations: the buying and selling of government securities by the Federal Reserve Board as a means of controlling the national money supply.▯ • Reserve requirement: the minimum liquid assets each bank must keep on hand to back customer loans.▯ ▯ CRIME POLICY▯ • Crime control model: criminal justice policymaking model that views the controlling of criminal behavior as the system’s most important function.▯ • Due process model: criminal justice policymaking model that views the attainment of justice- which included protection of the innocent - as the principal goal of the system.▯ ▯ HEALTH CARE POLICY▯ • Universal health care: national health care system in which full access to health care is provided to citizens at government expense.▯ • Patient Protection andAffordable CareAct of 2010 (PPACA): the main federal legislation passed in 2010 that overhauled the health care system by expanding Medicaid and guaranteeing health care coverage for select groups of citizens.▯ • Health Maintenance Organizations (HMOs): prepaid group practice arrangements entered into by doctors and other health professionals that attempt to limit costs by charging customers ﬂat monthly rates with little or no deductibles.▯ ▯ Welfare State and Programs for the Poor:▯ • Welfare state: social system in which the state assumes a considerable degree of responsibility for citizen in matters of health care, employment, education, and retirement income.▯ • Capitalism: economic system in which all or most of the means of production are privately owned under competitive conditions.▯ • Socialism: economic system in which all or most of the means of production are owned by the community as a whole.▯ • Medicare: federal program that provides health insurance for the elderly.▯ • Medicaid: federal program that provides limited health care services to the poor.▯ ▯ TEXTBOOK QUESTIONS/ANSWERS:▯ 1. The stage of the policymaking process where the proposed policy assumes the authority of law is the adoption stage.▯ 2. The federal bureaucracy is primarily responsible for the implementation stage.▯ 3. The ﬁscal theory that favors stimulus spending by government as a way to spark economic activity is Keynesian economics.▯ 4. The total money value of all goods and services produced in the United States in a given one-year period is the gross domestic product.▯ 5. A tax that exacts a large percentage of income from lower-wage earners than higher-wage earners is a regressive tax.▯ 6. The Federal Reserve Board determines monetary policy.▯ 7. The minimum liquid assets that banks must keep on hand to back customer loans is called the reserve requirement.▯ Chapter 15 Megan Koh 8. The model of criminal justice policymaking that emphasizes the rights of the accused is the due process model.▯ 9. Medicaid provides money for health services for those in poverty.▯ 10. The 1996 Welfare Reform Law that replacedAFDC withTANF placed a ﬁve-year limit on welfare payments, required welfare recipients to work, and scaled back the food stamps program.▯ 11. The Social Security system was created under the Franklin Delano Roosevelt administration.▯ 12. The Social Security system is funded through payroll taxes on employers and employees.▯ 13. The element of the 2010 health care reform laws that requires the purchase of health insurance is known as the individual mandate.
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