total of all goods and services produced in a economy during the given year
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Monetarist
one who believes that inflation occurs when too much money is chasing too few goods
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Keynesianism
belief the government must manage the economy by spending more money when in a recession and cutting spending when inflation occurs
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Economic Planning
belief that government plans, such as wage and price controls or the direction of investment, can improve the economy
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Supply-Side Theory
belief that lower taxes and fewer regulations will stimulate the economy
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Monetary Policy
managing the economy by altering the supply of money and interest rates
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Fiscal Policy
Managing the economy through the use of tax and spending laws
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Globalization
growing integration of economies and societies around the world
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Income Inequality
the extent to which income is unevenly distributed throughout society
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Budget
a document that states tax collections, spending levels, and the allocation of spending among purposes
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Fiscal Year
for federal government, October 1 - following September 30
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Budget Resolution
a congressional decision that states the maximum amount of money the government should spend
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Mandatory
money that the government is required to spend by law
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Entitlements
A claim for government funds that cannot be changed without violating the right of the claimant
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Discretionary Spending
spending that isn't required to pay for contracts, interest on the national debt, or entitlement programs like social security
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Debt Ceiling
a limit on how much money the federal government can borrow (by limiting the amount of debt it can issue)
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Sequester
automatic spending cuts
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Endangered Species
a species is in danger of extinction throughout all or a significant portion of its range
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Pollution
the presence in or introduction into the environment of a substance or thing that has harmful or poisonous effects
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Acid Rain
rain, dust, snow particles that fall on the land that are acidic
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Pesticides
the presence in or introduction into the environment of a substance or thing that has harmful or poisonous effects
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Global Warming
gases produced by humans get trapped in the atmosphere and cause temperatures to rise - leads to very bad things in nature
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Client Politics
it happens when a policy overwhelmingly benefits one group at the expense of the majority
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Majoritarian Politics
a system where the majority's opinion dominates @ the expense of the minority
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Union
the system of rules and procedures that govern the election and appointment of representatives, the allocation of resources, and the determination of policy within trade unions
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Insider politics
someone, usually one of a small group, who has access to secret or private information
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means test
An income qualification program that determines whether one is eligible for benefits under government programs reserved for lower-income groups
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insurance program
A self-financing government program based on contributions that provide benefits to unemployed or retired persons
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assistance program
A government program financed by general income taxes that provides benefits to poor citizens without requiring contributions from them
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Unemployment Insurance (UI)
Weekly payments to workers who have been laid off and cannot find work
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Temporary Assistance for Needy Families (TANF)
Payments to needy families with children. Partially paid for by block grants from the federal government to the states
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Supplemental Security Income (SSI)
Cash payments to aged, blind, or disabled people whose income is below a certain amount. Paid for from general federal revenues
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Means test
A method to determine eligibility for certain government programs based on income.
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Food Stamps
Vouchers given to people whose income is below a certain level, that can be used to buy food at grocery stores.
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Earned Income Tax Credit
Pays cash or tax credit to poor working families.
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Charitable choice
Name given to four federal laws passed in the late 1990s specifying the conditions under which nonprofit religious organizations could compete to administer certain social service delivery and welfare programs.
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Entitlements
Programs such as unemployment insurance, disaster relief, or disability payments that provide benefits to all eligible citizens.
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Public Assistance
Aid to the poor - welfare.
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Social Insurance
Programs in which eligibility is based on prior contributions to government, usually in the form of payroll taxes.
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Old Age, Survivors, and Disability Insurance (OASDI)
Monthly payments to retired or disabled people and to surviving members of their families, popularly called Social Security.
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Social Security
A combination of entitlement programs paid for by employer and employee taxes, that includes retirement benefits, health insurance, and support for disabled workers and children of deceased and disabled.
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Medicaid
Federal program that provides medical benefits for low income people.
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Medicare
National health insurance program for elderly and disabled.
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Worldviews
Comprehensive opinions of how the United States should respond to world problems.
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Isolationism
The belief that the United States should withdraw from world affairs.
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Containment
The belief that the United States should resist the expansion of aggressive nations, especially the former Soviet Union.
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Disengagement
The belief that the United States was harmed by its war in Vietnam and so should avoid supposedly similar events.
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Human Rights
The belief that we should try to improve the lives of people in other countries.
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Polarization
A deep and wide conflict over some government policy.
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Military-industrial complex
An alleged alliance between military leaders and corporate leaders.
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Bipolar world
A political landscape with two superpowers.
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Unipolar world
A political landscape with one superpower.
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Joint Chiefs of Staff
A committee consisting of uniformed heads of each branch of the military, plus a chairmen, vice chairmen and military officers.
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Cost overruns
When the money actually paid to military suppliers exceeds the estimated cost.
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Gold plating
The tendency of Pentagon officials to ask weapon contractors to meet excessively high requirements.
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Doctrine of preemption
A document Bush signed in 2002 saying that the US will put down threats before they become threats.
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Third-world
Nations that lack a formal government or a stable economy.
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Fourth-world
The most under developed, poverty-stricken, and marginalized regions and populated.
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National Security Act of 1947
Mandated major reorganization of foreign policy and military establishments of the U.S. Government.
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National Security Council
President's principal forum for considering national security and foreign policy matters with his or her senior advisors and cabinet officials.
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War Powers Act of 1973
Limit the President's authority to wage war and reasserted its authority over foreign wars.
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Desert Storm
In 100 hours, U.S. and allied ground forces in Iraq and Kuwait decisively defeated a battle-hardened and dangerous enemy.
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