How to Think About the Deficit

How Real Is the Federal Deficit?

by Robert Eisner

The Deficits: How Big? How Long? How Dangerous?

by Daniel Bell and Lester Thurow
Federal fiscal policy is adrift without a rudder. Norms that guided presidents and Congresses in the past have been ignored, and no workable new principles have emerged. Neither is there any consensus in popular opinion, among business and financial elites, or among economists. The ancient orthodox norm was annual budget …

Reaganomics and Economics

The economic program of the Reagan administration, like that of the Thatcher government in Britain, manifests a conservative counterrevolution in the theory, ideology, and practice of economic policy. The aim of the counter-revolution is to shrink the economic influence of government, especially central government, relative to that of private enterprise …

Living with Inflation

The cruel choice between two evils, unemployment and inflation, has become the major economic issue of the day. Democrats and Republicans agree that both evils must be avoided and differ only on the means—with Democrats largely favoring the more drastic remedies. Congress has thrust upon the President authority for direct …