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Word Count: 599
There are few sorrows however poignant in which a good income is of no avail This quote by Logan Pearsall Smith illustrates a rather interesting point in the world of American Public Policy namely the fungibility of money It is difficult to examine the role of public policy without examining it from an economic context The formation of policy has been limited in recent years due to budget constraints The ability to implement various programs and initiatives from Three Strikes Laws to Head Start Programs to Star Wars Defense programs all share one common thread the ability to raise enough capital to fund these programs What often results are that one program is advanced at the expense of another program The only way to advance all programs is to advance the American economic system in general It is for this reason that fiscal policy is the single most important policy in modern American society In order to make this claim one must define what exactly is a criterion for defining the most important policy For purposes here this criteria is defined as the policy that is so important that it can substitute for a lack of direction in other areas This is the concept of fungibility Money is the one tool that can be used to bridge the gap between the different policies The problem becomes in how to create the most amount of money so that all policies may be implemented This is where fiscal policy comes into play American fiscal policy has been bogged down in recent years by instability in the party in power Congressional and Presidential power in the past 20 years has fluctuated greatly This creates a situation where there is no clear vision for fiscal policy This alternation between the ultra-conservative times of the Reagan years to the comparatively liberal times of the Clinton years and now back to the right during the GW Bush years has left the
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