Chapter 16: Domestic Policy

YEET

Bottom-Up Implementation

a strategy in which the federal government allows local areas some flexibility to meet their specific challenges and needs in implementing policy

Congressional Budget Office (CBO)

the congressional office that scores the spending or revenue impact of all proposed legislation to assess its net effect on the budget

Debt

the total amount the government owes across all years

Deficit

the annual amount by which expenditures are greater than revenues

Discretionary Spending

government spending that Congress must pass legislation to authorize each year

Distributive Policy

a policy that collects payments or resources broadly but concentrates direct benefits on relatively few

Entitlement

a program that guarantees benefits to members of a specific group or segment of the population

Excise Taxes

taxes applied to specific goods or services as a source of revenue

Free-Market Economics

Keynesian Economics

Laissez-Faire

Libertarians

Mandatory Spending

Medicaid

Medicare

Policy Advocates

Policy Analysts

Progressive Tax

Public Policy

Recession

Redistributive Policy

Regressive Tax

Regulatory Policy

Safety Net

Social Security

Supply-Side Economics

Top-Down Implementation

Private Goods

Public Goods

Common Goods

Toll Goods

Safety Net Programs