legislated into law since Franklin Roosevelt's time and how politics (e.g., Washington gridlock) affects the economy and the making of public policy. Students learn how to measure various indicators of economic performance, how the U.S. economy works (domestically and with international linkages), and how and why policymakers act to stabilise an economy in an economic downturn. Additionally, many social insurance programs (Social Security, Medicare, Medicaid) are explained and the current fiscal issues concerning current/future costs are treated in some detail. The book concludes with a full chapter case study on the Obama administration's response to the Great Recession and its dealings with Congress; the implementation of the Affordable Care Act is also discussed.

Hide more