Domestic Policy II: Fiscal Policy

 

• Class will adjourn at noon for student experience surveys.
• Questions on paper?
• Please remember your last write-ups this week.  By tomorrow night, tell me what do you want to talk about next week. What topics do you want to revisit?  Will assign some short 
• readings accordingly.

What is monetary policy?  Who determines monetary policy?

White House staff:  the only staff that consistently matters is OMB

• Legislative clearance and SAPs
• Regulatory review: cost-benefit analysis.  The Federal Register and rules. 

• From 10,000 Commandments

• OMB develops the annual budget

Terms

• Authorization
• Budget Authority
• Outlay
• Continuing resolutions

"The Budget Process" and key documents:

• The president's budget
• CBO reports

• Budget Authority
• Outlay
• Continuing resolutions

"The Budget Process" and key documents:

• The president's budget
• CBO reports

• Budget Authority
• Outlay
• Continuing resolutions

"The Budget Process" and key documents:

• The president's budget
• CBO reports

Outlays -- Where the money goes

Mandatory spending

Budget tables:  function, subfunction, agency

Debt as share of GDP