Data

Copy and paste the text below. It is read-only. Select All

Acid rain rain containing acids that form in the atmosphere when industrial gas emissions (especially sulfur dioxide and nitrogen oxides) combine with water Command and Control Strategy a strategy to improve air and water quality, involving the setting of detailed pollution standards and rules Assistance Program a government program financed by general income taxes that provides benefits to poor citizens without requiring contributions from them Benefit financial assistance in time of need Boycott a group's refusal to have commercial dealings with some organization in protest against its policies Bubble Standard Devised by the EPA - it refers to the total amount of air pollution which can come from a given factory. Budget a summary of intended expenditures along with proposals for how to meet them Budget Deficit an excess of expenditures over revenues Budget Resolution A resolution binding Congress to a total expenditure level, supposedly the bottom line of all federal spending for all programs. Budget Surplus an excess of tax revenue over government spending Client Politics a policy in which one small group benefits and almost everyone pays Cold Wars a conflict that was between the US and the Soviet Union. The nations never directly confronted eachother on the battlefield but deadly threats went on for years. Containment American policy of resisting further expansion of communism around the world Cost the property of having material worth (often indicated by the amount of money something would bring if sold) Cost Overruns actual costs that are several times greater then estimated costs. Deflation a contraction of economic activity resulting in a decline of prices Diplomacy wisdom in the management of public affairs Disengagement to break off a military action with an enemy Domino Theory the political theory that if one nation comes under Communist control then neighboring nations will also come under Communist control Earned Income Tax Credit gives tax credits and even cash payments to qualified workers Economic Planning The belief that government plans, such as wage and price controls or the direction of investment, can improve the economy Entitlements A claim for government funds that cannot be abridged without violating the rights of the claimant; for example, social security benefits or payments on a contract. Entrepreneurial Politics A policy in which almost everybody benefits and a small group pays the cost Environmental Impact Statement Required studies &reports of likely environmental impacts, filed w. the Environmental Protection Agency prior to the beginning of a project Executive Agreements Agreements with other countries that do not need senate approval Federal Reserve Board (WW) , A seven-member board that sets member banks reserve requirements, controls the discount rate, and makes other economic decisions. Fiscal Policy a government policy for dealing with the budget (especially with taxation and borrowing) Fiscal Year The period from Oct. 1 to Sept. 30 for which government appropriations are made and federal books are kept. Foreign Service the part of the State Department that supplies diplomats for the United States embassies and consulates around the world Gold Plating the tendency of Pentagon officials to ask weapons contractors to meet excessively high requirements Income Strategy A policy giving poor people money to help lift them out of poverty. Industrial Policy the strategies by which a government works actively with industries to promote their growth and tailor trade policy to their needs Inflation a general and progressive increase in prices Insurance Programs a self-financing government program based on contributions that provide benefits to unemployed or retired persons. Interest Group Politics A policy in which one small group benefits and another small group pays Iron Curtain a political barrier that isolated the peoples of Eatern Europe after WWII, restricting their ability to travel outside the region Isolationism a policy of nonparticipation in international economic and political relations Keynesianism the belief the government must manage the economy by spending more money when in a recession and cutting spending when there is inflation Laissez Faire the doctrine that government should not interfere in commercial affairs Logrolling act of exchanging favors for mutual gain Majoritarian Politics a policy which almost everybody benefits and almost everybody pays Means Test an inquiry into the financial position of someone applying for financial aid Military-Industrial Complex Eisenhower first coined this phrase when he warned American against it in his last State of the Union Address. He feared that the combined lobbying efforts of the armed services and industries that contracted with the military would lead to excessive Congressional spending. Monetarism an economic theory holding that variations in unemployment and the rate of inflation are usually caused by changes in the supply of money Monetary Policy policy that involves changing the rate of growth of the money supply in circulation in order to affect the cost and availability of credit Offsets An incentive devised by the EPA to replace some rules. If a company wants to open a new plant in an area with polluted air, it can do so if the pollution it generates is offset by a reduction in pollution from another source in that area. Policy Entrepreneurs Activists in or out of government who pull together a political majority on behalf of unorganized interests Political Agenda Issues that people believe require governmental action Pollution Allowances (Banks) If a company reduces its polluting emissions by more than the law requires, it can either use this excess to cover a future plant expansion or sell it to another company as an offset. Pork Barrel Projects government projects and grants that primarily benefit the home district or state Pre-Emption the right of a government to seize or appropriate something (as property) Price and Wage Controls The means of economic planning which reflect the belief that the government should intervene in inflationary times by regulating the maximum prices that can be charged and the wages that can be paid. Such controls would be imposed only on the largest industries. Privatization To change from government or public ownership or control to private ownership or control. Process Regulation rules governing commercial activities designed to improve consumer, worker, or environmental conditions.Also called social regulation. Progressive Taxes A tax rate that increases as the amount of ones income increases Reaganomics The federal economic polices of the Reagan administration, elected in 1981. These policies combined a monetarist fiscal policy, supply-side tax cuts, and domestic budget cutting. Their goal was to reduce the size of the federal government and stimulate economic growth. Regressive Taxes taxes levied on all taxpayers, regardless of income or ability to pay, they tend to place proportionally more of a burden on those with lower incomes. Sequester take temporary possession of as a security, by legal authority Service Strategy a policy providing poor people with education and job training to help lift them out of poverty. Supply Side Theory The belief that lower taxes and fewer regulations will stimulate the economy Third World underdeveloped and developing countries of Asia and Africa and Latin America collectively Human Rights the basic rights to which all people are entitled as human beings War Powers Act Act that grants emergency executive powers to president to run war effort