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Chapter 16: Welfare & Education Policy
Terms in this set (19)
What is social welfare policy?
It includes any effort by government to improve social conditions. Referred as to government programs that help individuals meet basic needs.
Public assistance programs
Are funded through the general tax revenues and are available to financially needy. Eligibility for such program is established by a means test.
The requirement that applicants for public assistance must demonstrate that they are poor to be eligible for the assistance.
What is Supplemental Security Income?
Supplemental Security income (SSI) originated as federal assistance to the blind and elderly poor as part of the social security Act of 1935.
Education programs for the poor are not limited to job training. Aimed for helping poor children at an early age by providing free preschool education to low-income children.
What are rent vouchers?
A type of in-kind federal benefit that provides low-income people with shelter.
Earned Income Tax (EITC)
What is the poverty line?
The government defines the poverty line as the annual cost of a thrifty food budget for an urban of four, multiplied by 3 to include the cost of housing. A family of 4 an annual income of $22,500.
What are Entitlement programs?
Any of a number of individual- benefit programs, such as social security, that require government to provide a designated benefit to any person who meets the legally defined criteria for eligibility.
Social welfare programs bases on the "insurance" concept, requiring that individuals pay into the program in order to be eligible to receive funds from it.
Ex: Social Security for retired people.
Which two social insurance programs are the most expensive?
Social Security and Medicare. Both programs cost the federal government more than $1 trillion annually.
Which is the leading social insurance program?
How much is Medicaid funded?
60% of funding is provided by the federal government and about 40% by the state.
What is fiscal policy based on?
is based on the governments taxing and spending decisions.
The total amount of money the federal government owes to its creditors is the.....
The Federal Reserve plays a large part in establishing ________ policy?
Monetary policy differs from fiscal policy in that....
it can be implemented more quickly than fiscal policy.
What is Regulation Policy?
having to do with the regulation of certain business activities.
What is monetary policy?
having to do with controlling the supply and cost of money.
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