Why Deficits Really Matter

Church, George J.
January 1979
Time;1/29/1979, Vol. 113 Issue 5, p42
The article discusses the significance of deficit spending and its effect to the economy in the U.S. It mentions the deficits spending has been viewed as the fiscal mortal sin which leads to inflationary damnation, however, it could be unavoidable during a war when spending is greater than taxes and could be necessary when inflation is low and unemployment is high. It notes the conflicting opinions on the role of deficits in inflation because of many ways in measuring the size of a deficits but the great deal involving deficits depend on the condition of the economy. It also notes the economical arguments regarding the 29 billion dollars deficit proposed by the administration of President Jimmy Carter in fiscal 1976 which is considered as too high.


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