NATIONAL & INTL POLICY

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V 160 Spring 2018 Memo #1

There will be time during Thursday’s class (February 8) for you to discuss and plan your work. If anyone is missing class on Thursday, they need to promptly catch up with their team outside of class, or write and submit one of the memos by themselves.

TEAMS: Each Team does two memos.

All Team members contribute to writing and reviewing both memos and will review them for clarity and accuracy before submitting them. Each memo will be submitted electronically (there will be two different Canvas Assignments For Topic 1 and Topic 2. Only one Team member needs to submit a memo for the team)

Grading Criteria: Clarity of Writing, Completeness, Accuracy, Use of Course Materials, Following Instructions, Using Your Own Words. Your Explanations Should Be in Full Sentences. Format:

· 11 point font, Times New Roman

· 1 inch margins

· Maximum 1 page per topic

· Single spaced

Topic #1: National Debt

Imagine you have a Consulting Firm that advises governments on issues of budget deficits and debt.

You get a call from the new government of Pinkland, which is wondering whether it would be okay for them to increase their deficit. They don’t give you any more information than that, but they say they want you to tell them what the risks are, right there, on the phone, without really giving you time to look up information and data about that country. You ask to be given a little time to gather your thoughts and put together your talking points.

Given the situation, all you can do is telling them what factors/ questions are important to consider when assessing potential (low or high) risks of having greater deficits/debt.

So you make a numbered list these factors/questions. Then, for each factor/ question you explain in detail why it is important to consider this factor or to ask this question (i.e. under which circumstances they may indicate a low or high risk of increasing the deficit/debt).

Topic #2 Social Security

a) Imagine you are a Representative in a district where about one half of your constituents are retired or close to retirement, and the other half is between 18 and 55 years old. You are running for re-election in 2018 and your campaign promise is to close the Social Security funding gap without increasing the deficit and without using money out of the discretionary budget.

b) You are writing a detailed memo to your constituents where you describe the challenges that Social Security is facing, and what will happen if no policy reforms are undertaken. This should include a description of how Social Security works.

c) Lay out your reform proposal. (Design the package by using the Social Security Reformer (aim at 100% closing of gap) http://www.crfb.org/socialsecurityreformer/

d) You describe each measure you chose (in your own words), and point out to your constituents who benefits, who is burdened, why you chose these measures (instead of others), and why you think that altogether the package is fair and a good mix.

e) Since your opponent in the election is campaigning against your proposal and is promising that if he wins, there will be no cuts in benefits, and no efforts to increase payroll tax revenue, and that the gap will be filled through money out of the discretionary budget, you include a short analysis in the memo to your constituents explaining possible consequences to them of using money from the discretionary budget to finance the social security funding gap, and why you are against that.

f) In addition, use the public choice model to reason about

a. Why refusing to cut benefits or raise payroll tax revenue is likely going to lead to increasing deficits and debt (in the discretionary budget).

b. Who is likely going to win the election.

V 160 Spring 2018 Memo #1

There will be time

during

Thursday

’

s class

(February 8)

for you to discuss and plan your work.

anyone is missing class on Th

ursday, they need to

promptly

catch up wi

th their team outside

of class

or write

and submit

one of the

memo

by themselves.

TEAMS:

Each Team

does two memos

All Team members contribute to writing and reviewing

both

memos and

will

review

them

for clarity and

accuracy

before submitting

them. Each memo will be submitte

d electronically

(there will be two

different

Canvas A

ssignmen

For Topic 1 and Topic 2

. Only one Team member

needs to

submit

a memo

for the team

)

Grading Criteria:

Clarity of

riting,

Completeness, Accuracy,

Use of Course Materials

, Following Instructions, Us

ing

Your Own Words.

Your

xplanations

hould

ull

entences.

Format:

11 point font

, Times New Roman

1 inch margin

Maximum 1 page per topic

Single spaced

opic #1: National Debt

Imagine you have a Consulting Firm that advises gove

rnments on issues of budget deficits and debt.

You get a call from the

new

government of Pinkland, which is wondering whether it would be okay for

them to increase their

deficit.

They don’t give you any more information

than that

, but they say they

want y

ou to tell them what the risks

are, right there, on the phone, without really giving you time to

look up information and data about that country.

You ask to be given

a little time

to gather you

thoughts

and put together y

our

talking points.

Given

the

situation, all you can do is telling them what

factors

/ questions

are important to consider

when as

sessing potential (low or high) risks

of having greater deficits

/debt.

So you m

ake a

numbered list

these factors/questions

Then, for

each

factor/ question

you

explain

detail

why it is important

to consider this factor or to ask this question (i.e.

under which circumstances

the

y may

indicate

a low or high risk of increasing the deficit/debt).

opic #2

Social Security

Imagine you are a Representative in a district where about one half of your constituents are

retired or close to retirement, and the other half is between 18 and

years old.

You are

running for re

election

2018

and

your campaign promise is

close the Social

ecu

rity

unding

gap

without increasing the deficit

and withou

t using money out of the discretionary budget.

V 160 Spring 2018 Memo #1

There will be time during Thursday’s class (February 8) for you to discuss and plan your work. If

anyone is missing class on Thursday, they need to promptly catch up with their team outside of class,

or write and submit one of the memos by themselves.

TEAMS: Each Team does two memos.

All Team members contribute to writing and reviewing both memos and will review them for clarity and

accuracy before submitting them. Each memo will be submitted electronically (there will be two

different Canvas Assignments For Topic 1 and Topic 2. Only one Team member needs to submit a memo

for the team)

Grading Criteria:

Clarity of Writing, Completeness, Accuracy, Use of Course Materials, Following Instructions, Using

Your Own Words. Your Explanations Should Be in Full Sentences.

Format:

 11 point font, Times New Roman

 1 inch margins

 Maximum 1 page per topic

 Single spaced

Topic #1: National Debt

Imagine you have a Consulting Firm that advises governments on issues of budget deficits and debt.

You get a call from the new government of Pinkland, which is wondering whether it would be okay for

them to increase their deficit. They don’t give you any more information than that, but they say they

want you to tell them what the risks are, right there, on the phone, without really giving you time to

look up information and data about that country. You ask to be given a little time to gather your

thoughts and put together your talking points.

Given the situation, all you can do is telling them what factors/ questions are important to consider

when assessing potential (low or high) risks of having greater deficits/debt.

So you make a numbered list these factors/questions. Then, for each factor/ question you explain in

detail why it is important to consider this factor or to ask this question (i.e. under which circumstances

they may indicate a low or high risk of increasing the deficit/debt).

Topic #2 Social Security

a) Imagine you are a Representative in a district where about one half of your constituents are

retired or close to retirement, and the other half is between 18 and 55 years old. You are

running for re-election in 2018 and your campaign promise is to close the Social Security funding

gap without increasing the deficit and without using money out of the discretionary budget.