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Week 3 Notes Admin Law - Federal Budget Accountability

by: Evy

Week 3 Notes Admin Law - Federal Budget Accountability POSC 475

Marketplace > California State University - Fullerton > Political Science > POSC 475 > Week 3 Notes Admin Law Federal Budget Accountability
Cal State Fullerton
GPA 3.2

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About this Document

Information on the four main causes of the federal budget deficit. Important to understand the factors involved and the responsibility of the branches of government.
Administrative Law
James Fox
Class Notes
#adminlaw #administrativelaw #federalbudgetdeficit
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This 1 page Class Notes was uploaded by Evy on Monday February 29, 2016. The Class Notes belongs to POSC 475 at California State University - Fullerton taught by James Fox in Spring 2016. Since its upload, it has received 50 views. For similar materials see Administrative Law in Political Science at California State University - Fullerton.

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Date Created: 02/29/16
Federal  Budget  Accountability   2/24/16 8:47  PM IOUSA  VIDEO** Four  Major  Deficits Budget Saving Balance  of  Payments  (imports/exports) Leadership Consider  GPD  =  C+I+G+Xn Major  factors  of  deficit  (historical) • War  and  defense  spending • Supply  side  economics  (reaganomics)   Biggest  Current  Factors • Social  security   • Medicare   • Medicaid   Supply  side  economics   More  spending  and  tax  cuts  (doesn't  work) Budget  deficit:  more  spending  not  enough  revenue  from  taxes   *due  to  fiscal  policy Savings  deficit:  not  enough  savings  or  investments  *due  to  low  incomes   *affected  by  monetary  policy  or  the  fed Controls  interest  rates  and  inflation   Balance  of  payments: Imports  exceed  exports  -­‐ not  enough  going  out  and  spending  too  much  on  what's  coming  in.   U.S.  HAS  DRIFTED  FROM  PRODUCTION  JOBS We  owe  to  other  countries,  they  hold  much  of  our  treasury  bonds.   Leadership:   Plays  a  role,  comfy  triangles,  interest  groups  and  constituents.   Reagan  and  Bush  hiked  deficit  the  most  because  they  catered  to  the  rich  and  spent  too  much  on   defense.   Clinton  balanced  the  budget-­‐moderate  tactics   Responsibility  lies  in  the  direction  the  economy  is  going,  types  of  jobs,  reliance  I  foreign  products,  poor   budget  policy.  President  authorizes  but  does  not  make  the  decisions.   Solution  in  not  determined.   Better  incomes   More  value  to  the  dollar More  exports  and  production Prioritize  budgets


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