15. Major Entitlement Programs 7 million - Payroll taxes from Federal Govt. Unemployment Insurance fired worker can collect benefits 51 Million - State & Federal Taxes Medicaid pays portion of medical care for low-income people 41 Million - Federal Taxes Medicare pays portion of medical care to elderly 45 million - Payroll taxes from Federal Govt. Social Security monthly stipend to elderly & disabled People Helped Source of Funding Entitlement Program & Definition
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24. Comparing & Contrasting Fiscal and Monetary Policy - Money Supply - Loans & Mortgages - Taxing & Spending - budget Keywords to Help you Remember ↑ or ↓ Interest Rate ↑ or ↓ Taxes ?Recession? ↑ or ↓ Govt. Spending Tools Used to Execute Policy The Federal Reserve aka “The Fed” President & Congress Who Controls Policy? Govt.’s money supply policies Govt.’s taxing & spending policies Short Definition Monetary Policy Fiscal Policy
25. Economic Cause & Effect If the Economy is in a recession Possible Government Remedies: ↑ or ↓ Taxes or ↑ or ↓ Govt. Spending or ↑ or ↓ Interest Rates