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Chapter 13 Making Domestic Policy

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Presentation on theme: "Chapter 13 Making Domestic Policy"— Presentation transcript:

1 Chapter 13 Making Domestic Policy

2 Enduring Questions What is the definition of politics?
What are the four types of politics? What was Madison’s a priori assumption about human nature?

3 Four types of politics

4 Economic terms Economic systems Performance measures Key processes
Free-market capitalism Socialism Mixed Key processes Fiscal policy Revenues Expenditures Monetary policy Reserve ratio Rediscount rate Open-market transactions Performance measures Debt Deficit GDP Inflation Unemployment

5 Six biggest sources of federal debt (in alphabetical order)
Economic downturn Economic recovery measures TARP, Fannie & Freddie Tax cuts (Bush era) Wars in Iraq and Afghanistan Everything else

6 Six biggest sources of federal debt (relative size)

7 Key players Legislative branch Executive branch Judicial branch
Appropriations & finance committees CBO Executive branch CEA OMB Treasury Fed Judicial branch Interest groups

8 Federal Highest Tax Rates (1913-2004)
Source: Updated from Congressional Quarterly Weekly Report, September 18, 1993, p

9 Average Personal Income Tax Rates (2006) for Married Couples with Two Children
Source: Organization for Economic Co-Operation and Development (2006).

10 Changing Social Security
Raise retirement age Raise withholding tax rate Raise withholding cap Reduce benefits Privatize investments

11 Healthcare problems Increasing costs Waste & inefficiency
People are living longer Higher-priced medical and surgical techniques Waste & inefficiency Bloated overhead charges Paper records

12 Patient Protection & Affordable Healthcare Act
Extends health care insurance to uninsured Americans Provides federal subsidies to people who have trouble paying Penalizes people who do not buy health insurance Dependent children under age 26 covered by parents’ insurance Adds more people to Medicaid Levies taxes and fees on medical devices, drugs, high- cost health insurance plans, health insurers

13 Out-of-pocket healthcare costs U.S. v. 25 other rich nations (2008)
Source:

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