Public Finance: Government spending

Lead-in

Comment on the following statements. Use the expressions of agreement / disagreement/partly agreement. Work in pairs.

Agreeing I totally agree! I couldn’t agree more! I see exactly what you mean! You're right. That's a good point. Disagreeing I’m not sure about that. I don't think so. I cannot share this / that / the view.What I object to is...I have my own thoughts about that. Partly agreeing I agree up to a point, but ...I see your point, but ...That’s partly true, but ....

1.“An expenditure of words without income of ideas will lead to intellectual bankruptcy” - Ravi Zacharias

2.“Lower taxes, less government spending on domestic programs and fewer regulations mean a better economy for everybody”- Larry Elder

3.“Government spending reduces the capital that could be invested to serve consumers and to produce new employment opportunities”- Sheldon Richman.

4.“The goal is to reduce the size and scope of government spending, not to focus on the deficit. The deficit is the symptom of the disease.” -Grover Norquist

Topical Vocabulary

a) Study the vocabulary list. Use the words and phrases in the sentences of your own.

1. aggregate (adj) - общий, совокупный

syn. total, cumulative

aggregate demand- совокупныйспрос

2. bottomline–итог, практический результат, выгода

3. buffer(n)– буферное государство, расположенное между более крупными державами.

tobuffer (v) – смягчать действие силы, собирать информацию для временного хранения

4. discretionary(adj) [dɪs´kreʃnərɪ] –действующий по собственному усмотрению

discretionaryfiscalpolicy - дискреционная фискальная политика: сознательное регулирование государством налогообложения и госрасходов

5. downgrade(v) –понижать, представлять в невыгодном свете

downgrade(n)– упадок, ухудшение

6. handle(v) –регулировать, управлять.

handle (n) –ручка, рукоятка, удобный случай, предлог, повод

togetatruehandleonsmth – получить хорошую возможность понять что-либо, чтобы контролировать это.

7. keepupwith(v) – не отставать от чего-либо

8. meritgoods – социально-значимые блага

9. outlay(n) – затраты, издержки

to outlay (v) –тратить

syn. spending,expenses, costs

10. public goods – общественные блага

11. sovereigndebt – суверенный, государственный долг

12. supply-sideeconomy–экономическая теория предложения

supply-sideimprovements – улучшения, связанные с вложением капитала

13. total(v) – равняться, подводить итог, доходить до.

14. track(v) – отслеживать, оставлять следы, прокладывать путь

track (n) – след, тропа, курс

keeptrack- отслеживать

b) Fill in the gaps using the words and word combinations from the Topical Vocabulary.

1.Wages arefailingto_____inflation.

2.The ______ is that we need another ten thousanddollarstocompletetheproject.

3.The wall_____the noise of the traffic.

4.He carefully_____the bill.

5.In the firstyearwe _____ thousands ofdollarsoncomputers.

6.Acreditrating _____ wouldraisetheircostofborrowing.

7.Who _____ themarketinginyourcompany?

8.It'sdifficultto ______ ananimaloverstonyground.

9.Judges havegreat ______ powers.

10.The sevencompanieshave an_____ turnoverof £5.2 million.

c) Fill in the table. Use 5-7 words to compose stories of your own.

VERB	NOUN	ADJECTIVE	ADVERB
buffer
	downgrade
		discretionary
			demandingly
keep
	handler
		bottomless
			aggregately
track
	sovereignty
		public
			totally

2. a) Match idioms and their meanings.

1.to go Dutch 2.deep pockets 3.to feed the kitty 4.a nest egg 5.to pay over the odds 6.to be paid peanuts 7. to go from rags to riches

a.have a reserve of money which you put aside for future needs b.contribute to a collection of money called a 'kitty' in order to help a good cause c.to share the cost of something such as a meal or a concert. d.pay too much or you pay more for something than it is really worth. e.have a lot of money. f.start off being very poor and become very rich and successful.. g. have a very low salary

b) Fill in the gaps using idioms below:

1.Jenny has a very interesting job, but she's _________.

2.Our parents consider the money from the sale of their house as _______ for their old age.

3.Andy's business is not doing well at the moment. He says he needs a friend with ________!

4.By renovating old houses in the right places, he ________.

5.Come on! Every little helps. You should _____ for a good cause!

6.Young people today tend to ________ when they go out together

7. She's willing _______ for an original Kelly handbag to add to your collection.

Read the text and name the main characteristics of public administration.