y103test4
Terms
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- open market operations
- The process by which the Federal Reserve System buys and sells securities to influence the money supply.
- social policy
- An area of public policy related to maintaining or enhancing the well-being of individuals.
- welfare
- Financial or other assistance provided to individuals by the government, usually based on need.
- New Deal
- The set of policies proposed by President Franklin Roosevelt and enacted by Congress between 1933 and 1935 to promote economic recovery and social welfare during the Great Depression.
- Great Society
- The wide-ranging social agenda promoted by President Lyndon Johnson in the mid-1960s that aimed to improve Americans’ quality of life through governmental social programs.
- ownership society
- The term used to describe the social policy vision of President George W. Bush, in which citizens take responsibility for their own social welfare and the free market plays a greater role in social policy.
- policy agenda
- The set of desired policies that political leaders view as their top priorities.
- Social Security
- A federal social insurance program that provides cash benefi ts to retirees based on payroll taxes they have paid over the course of their careers. It is a “pay as you go†program in which working Americans pay taxes to support today’s retirees, with a promise that when today’s workers retire, their benefi ts will be paid by the next generation.
- Baby Boom generation
- Americans born between 1946 and 1964 who will be retiring in large numbers over the next twenty-five years.
- Greenspan Commission
- The informal name of the National Commission on Social Security Reform created by President Ronald Reagan in 1981 to address short-term and long-term problems facing the Social Security program.
- privatization
- The process of transferring the management of a government program (like Social Security) from the public sector to the private sector.
- Medicare
- The federal heath care plan created in 1965 that provides coverage for retired Americans for hospital care (Part A), medical care (Part B), and prescription drugs (Part D).
- Medicaid
- An entitlement program funded by the federal and state governments that provides health care coverage for low-income Americans who would otherwise be unable to afford heath care.
- entitlement
- Any federal government program that provides benefits to Americans who meet requirements specified by law.
- income support
- Government programs that provide support to low-income Americans, such as welfare, food stamps, unemployment compensation, and the Earned Income Tax Credit.
- Aid to Families with Dependant Children (AFDC)
- The federal welfare program in place from 1935 until 1996, when it was replaced by Temporary Assistance for Needy Families (TANF) under President Clinton.
- Temporary Assistance for Needy Families (TANF)
- The welfare program that replaced Aid to Families with Dependant Children (AFDC) in 1996, eliminating the entitlement status of welfare, shifting implementation of the policy to the states, and introducing several new restrictions on receiving aid. These changes led to a significant decrease in the number of welfare recipients.
- Bicameralism
- The system of having two chambers within one legislative body, like the House and Senate in the U.S. Congress.
- Pork Barrel
- Legislative appropriations that benefit specific constituents, created with the aim of helping local representatives win reelection.
- Gridlock
- An inability to enact legislation because of partisan conflict within Congress or between Congress and the president.
- Electoral Connection
- The idea that congressional behavior is centrally motivated by members desire for reelection.