$109 Billion?

December 1981
National Review;12/25/1981, Vol. 33 Issue 25, p1523
The article comments on the growth in the federal deficit of the U.S. for its fiscal 1982. The announcement of such incident had a sobering impact on political parties. It also had an impact on the members of the U.S. Congress who had been asking for an increase in social spending. Traditional conservative economists were confused that both inflation and interest rates were falling rapidly. If such deficit is hindering the need for big spending cuts, nothing ever can. Perhaps, such incident will bring an end to the guerrilla warfare waged by the U.S. Congress against the budget cuts of U.S. President Ronald Reagan.


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