MEDIA BIAS Partisan? Old days/today… Ideological bias: liberal or conservative? Negativity bias Bias toward what sells/what generates the largest audience

Monetary policy: gov’t manipulation of the money supply Social welfare policies- provide benefits to individuals. Via means testing or entitlements Monetary policy: gov’t manipulation of the money supply Fiscal policy: use of taxes, spending and borrowing to influence the economy

Economic theories used by policymakers Monetarism – supply of money is key to nation’s economic health Keynesian theory – government spending and deficits can stimulate slow economy Supply side economics – fiscal policy should stimulate SUPPLY of goods, mainly through lowering taxes

Social welfare policies TAXES – can be progressive, proportional or regressive TRANSFER PROGRAMS – benefits given directly to individuals by government (e.g. food stamps, Social Security)

SOCIAL PROGRAMS SOCIAL SECURITY ACT 1935 Creates Social Security and AFDC AFDC (Aid to families with dependent children) - TANF PRWORA 1996 (Personal responsibility and work opportunity reconciliation act) – “welfare reform”

Social policy in US versus other industrialized democracies Generosity Tax levels Why difference (cultural explanation… historical explanation… institutional explanation…)