The Budget is all about Priorities…

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Presentation transcript:

The Budget is all about Priorities… “The way you spend your money determines your priorities…” What is the opinion of this cartoonist?

The Politics of Taxing and Spending Voters want Prosperity Lower taxes Less debt New/cont. programs Objectives are inconsistent Add caption? P. 488 2

2012 Budget Breakdown

Where the Money Comes From and Where it Goes!

What trends do you observe?

Annual Deficits turn into Long term DEBT

Top Income Tax Rates 1913-2002

Deficit vs. Surplus

Debating Welfare Programs Majoritarian Politics/Programs Examples – Social Security, Medicare No means test Biggest issue – cost Client Politics/Programs Examples – Medicaid, Food Stamps Means tested Biggest issue – legitimacy Delivery Service Strategy – A policy providing education and job training to help lift people out of poverty Income Strategy - A policy giving money to help lift people out of poverty

Health Care Spending in the U.S.

Social Security and Medicare Cost as a % of GDP

Public Opinion on Social Security Reform

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