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Chapter 16 Economic Policy
Alex, Tim, Luke, Will Period 3
Monetarism: Government out of Econmy -Sready Predictable Increase In Money Supply Keynesianism -ecomomic health -favor activist government Supply-Side Theory -sharply cutting taxes increases incentive to work save and invest -investments lead to jobs Reganomics -reduce size of Federal Govern,ment -stimunate exonomic growth -increase milirary strength
CEA-- Has 3 professional economists plus a small staff -forecast economic trends -analyze economic issues -prepare the report the president submits to congress -OMB's chief function is to prepare estimates of what will be spent by federal agencies. They negotiate butgets Secretary of Treasury- provides estimates on revenue the government can expect MOST IMPORTANT = ===is the Federal Reserve System- they regulate the supply of money and the price of money
Majoritarian Politics Entrepreneurial Politics Interest Group Politics Client Politics
President submits a budget request sent to committees one in the house and one in the senate they study his package. A budget resolution is submitted by each committee. It serves as a blueprint for the actual appropriation process. Once both houses pass the resolution, selected members of the senate and house negotiate a confrence to determine the differences between the two resolutions.
Balanced Budget act of 1985 Gramm-Rudman Act 16th Amendment authorizedincome tax Tax Reform Act of 1986
