>From the Cato Institute, 1982:
"the conservatives
who have suddenly lost their concern over deficit spend-
ing. Some of the most respected conservative economists
in America, who happily went to work for the most con-
servative president in many years, have found themselves
repudiating their lifelong positions. William Niskanen,
a member of the Council of Economic Advisers, told a
December 1981 conference sponsored by the American En-
terprise Institute that "in general, concern about the
deficit has been misplaced....There is no direct or in-
direct connection between deficits and inflation." The
Council's chairman, Murray Weidenbaum, said that the
real concern was not the size of the deficit but its
gradual reduction."
....
"With all the heated arguments about Reaganomics in
the last year and a half, the following may seem a startling
assertion, but it is true: There is no Reaganomics.
There is a new style of rhetoric in Washington, a lot
of talk about tax cuts, getting the government off our
backs, reducing the size of government. But it is all
talk. Taxes and spending are going to be higher every
year. The rhetoric is different. The policies are
the same. "
". The Reagan adminis-
tration's own prediction is that federal spending will
increase by about $73 billion in 1982 and by another
$37 billion in 1983. Spending in FY 1983, the first
real Reagan budget, will be about $110 billion higher
than President Carter's last full budget. "
http://www.cato.org//pubs/pas/pa013.html
H.
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