ECO 111 Lecture Notes - Lecture 2: Patient Protection And Affordable Care Act, Trade Barrier, Air Jordan
Document Summary
The safety net is a term for programs that have been set up to give assistance to the needy or disadvantaged ( those that can clearly not care for themselves: children, elderly, mentally disabled) First safety net programs kick in during the depression of the 30"s (widely accepted bc everyone was suffering and it was clear that the programs were temporary) Really begins to expand in the 60"s as part of prez johnson"s war on poverty. If someone dies early their fund goes into the pool where people can draw from. Medicare - assistance to the elderly in paying medical bills (money gets taken out of paychecks to support personal funds) (problems: people are living longer, surgeries get more expensive) Medicaid - assistance to the poor in paying medical bills. Food stamps - vouchers to low-income families for us in food stores. Americans (13. 5% of all citizens) receive food stamps.
