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89th Congress
congressional session from January 1965 to January 1967; arguably the country's most productive in history given the volume and significance of legislation passed for the Great Society and war on poverty
Boskin Commission
1996 group headed by economist Michael Boskin to review the CPI and determine how much CPI overstated price inflation (1.3%)
Child Protection Act
1966 consumer safety law that banned unsafe children toys
Civil Rights Act
1964 legislation that banned employment discrimination and segregation
Community Action Agencies
agencies which carried out local operations for the Community Action Programs
Community Action Programs
program supported by the Economic Opportunity Act which aimed to eliminate poverty and its causes
counterfactual
an exercise in which economists try to estimate the impact of an event by creating a hypothetical in which the event had not occurred
DeBeers Company
company that until recently owned 80% of diamond mines
Department of Agriculture
agency that issued food stamps under the Food Stamp Act
Economic Opportunity Act
1964 legislation funding programs to combat poverty; formed the Office of Economic Opportunity; supported the Job Corps, Work Study, and Volunteers in Service to America, as well as Community Action Programs
Elementary and Secondary Education Act
1965 legislation; provided federal grants for local schools, especially those with many low-income students
Every Student Succeeds Act
2015 act that extended the Elementary and Secondary Education Act
excise tax
a tax on a specific product; in Johnson's proposals, would be renewed on cars and telephone services
Fair Packaging and Labeling Act
1967 consumer safety law
Federal Cigarette Labeling and Advertising Act
1965 consumer safety law
Food Stamp Act
1964 legislation; utilized food surpluses while providing food aid; administered by Department of Agriculture and state welfare agencies
full costs
refers to war-related spending in the Vietnam War, including personnel, equipment, training, and support
Great Society
Johnson's vision for American society without inequality or discrimination; term comes from a re-election campaign speech in May 1964 at the University of Michigan; argued that while the country was wealthy, it faced more serious questions of economic growth, minority rights, and overall quality of life
Gulf of Tonkin
exchange of fire between American warship and North Vietnamese boats; sparked American escalation
Housing and Urban Development
department created in 1955 under the eponymous act; provided accessible housing
Housing and Urban Development Act
1965 legislation; created Housing and Urban Development; worked to provide affordable housing through subsidies
incremental costs
in Vietnam War context, costs solely related to the war; does not include defense spending that would have occurred regardless of the war
Indochina War
1946 to 1954 independence conflict between France and Viet MInh
Job Corps
program supported by the Economic Opportunity Act; retrained youth and provided temporary housing and education for two years; Johnson called them "comparable in innovation to the land-grant colleges"
Medicaid
Social Security component; insures poorer Americans; means-tested; uses federal funding but is administered at a state level
Medicare
hospital and medical insurance program created in 1965; paired with Medicaid; Part A includes pay-roll financed insurance; Part B is optional and offered to those aged 65 and older or disabled; constitutes for 17% of American spending on healthcare
military Keynesianism
Kennedy's spending on military escalation to stimulate the economy
missile gap
rumored disparity between American and Soviet forces
NASDAQ
an example of an organized stock exchange
National Traffic and Motor Vehicle Safety Act
1966 consumer safety law that established safety standards for motor vehicles and road traffic safety
New York Stock Exchange
an example of an organized stock exchange
No Child Left Behind Act
2001 act that extended the Elementary and Secondary Education Act
Office of Economic Opportunity
office created by the Economic Opportunity Act; oversaw compliance with Civil Rights Act; managed anti-poverty programs
Paris Peace Accord
1973 agreement ending American intervention in Vietnam
Patient Protection and Affordable Care Act
2010 legislation marking a significant overhaul of the American health insurance system
Peace Corps
international aid program founded by President Kennedy
Saigon
South Vietnam capital; fell to North Vietnam forces in 1975
Sherman Anti-Trust Act
passed in 1890 to increase market competition
Social Security Act
1935 act out of which Medicare and Medicaid were created
State of the Union Address
speech by the president; Kennedy's first articulated the need for economic stimulus; Kennedy's third called for tax cuts; Johnson's first called for the War on Poverty
surcharge tax
tax proposed by Johnson in 1967; increased the base tax rate by a certain percentage; added 6% to all personal and corporate income tax rates
The General Theory of Employment, Interest, and Money
work published by John Maynard Keynes in 1936; developed an explanation for short-run economic fluctuations to respond to the inadequacy of the microeconomic model to explain the Great Depression
United States Department of Commerce
commissioned Simon Kuznets to develop a system to measure national output in 1932
University of Michigan
site at which Johnson introduced his Great Society in a speech
Viet Cong
Vietnamese independence army; defeated France in the Indochina War
Viet Minh
former name of the Viet Cong
VISTA
Volunteers in Service to America; supported by the Economic Opportunity Act; functioned analogously to domestic Peace Corps; established August 1964
War on Poverty
component of Johnson's Great Society; articulated in his first State of the Union; included five main areas: 1) Medicare and Medicaid; 2) Economic Opportunity Act; 3) Food Stamp Act; 4) 1965 Housing and Urban Development Act; 5) Elementary and Secondary Education Act; effects are ambiguous and contested depending on the poverty measure used
Work Study
program supported by the Economic Opportunity Act