Fiscal Policy
What is Fiscal Policy?
The use of government revenue collection and expenditure to influence a country's economy
Was the U.S. prepared for a pandemic?
yes
What was at an all-time low since 2008?
Unemployment
How much was the government allotted for spending on the pandemic?
5.2 Trillion
What is FEMA?
What was fiscally "bigger" than the new deal?
Americas Fiscal Response
How was the U.S. prepared for a pandemic?
FEMA, HHS, national bio defense strategy
What caused debt accumulation?
Moral hazard and/or Unemployment insurance
$300-$600
How much was HHS awarded for public general health preparedness?
18 billion
What are the top fiscal policy impulses?
Medical resources, unemployment insurance, and public investments
What is CARES?
Corona Virus Aid Relief and Economic Stability Act
What causes delays in labor return after the pandemic?
Too much unemployment insurance for certain individuals
Remote work and preservation of jobs for returning employees
What natural disasters led to HHS realizing shortcomings in their relief operation?
2017 hurricanes in the U.S. virgin islands
What are the three roles of fiscal policy?
Infection fighting, disaster relief, and support of aggregate demand
How many Americans applied for unemployment in late March?
3.2 Million
Stimulus checks provided stability but caused _____ within poor communities.
Inequality
Why was poverty at an all-time low?
Cash income wages and social security
Over the last 15 years, how much money has Congress provided to specific infectious disease threats?
3 billion
Higher interest rates can increase _____?
Borrowing costs for businesses and households
Why did public federal debt rise from 79 percent in 2019 to 110 percent at the end of 2023?
Fiscal Policy
What market benefitted lower-wage workers?
Tight labor market
Who is the German finance minister?
Olaf Scholz