POL_S 101 Lecture Notes - Lecture 17: Federal Deposit Insurance Corporation, Federal Reserve System, Money Supply
Document Summary
Public policy: a law or statute that expresses the government"s goals and provides rewards and/or punishment to promote their attainment. Congress is at the center of economic policy making: fiscal policies: government decisions regarding taxing and spending. Ways and means committee (house) and finance. Committee (senate: monetary policies: government (fdic) or banking decisions regarding control over the money supply and interest rates. Key players in economic policy making: congress: budget. Budget making: the process carried out in congress to determine how revenue will be raised and how the government will spend it: there have been battles between congress and the executive branch. The president has had more influence over the budget since the accounting act of 1921. The president"s budget is now a starting point for: recent gridlock has led congress to rely on continuing. Key players in economic policy making: the president. Office of management and budget: central role in creating the budget.
