Economics, Politics, and American Public Policy

"This text introduces students to the interrelationship of politics and economics in American public policymaking--how economic concerns have been legislated into law since FDR's time and how politics (e.g. Washington gridlock) affects the economy and making of public policy. Students learn how the U.S. economy works (domestically and with international linkages), how various indicators of economic performance are measured, and how and why policymakers act to try to stabilize the economy in an economic downturn. Many social insurance programs (Social Security, Medicare, Medicaid) are discussed and the fiscal issues concerning their current and future costs are treated in some detail. The book concludes with a full chapter case study on the 2008 financial crisis and the Obama administration's response to the Great Recession, its dealings with Congress, and policy initiatives including the Affordable Care Act. The authors ground the analysis of these events in long-term trends and the limitations--and sometimes the failures--of a number of policies, thereby offering readers a deeper understanding of the contemporary period and the challenges facing the nation."--Back cover.