Ronald Reagan and the rise of large deficits: what really happened in 1981

In: The independent review: journal of political economy, Band 4, Heft 3, S. 365-376

Abstract

Argues that his administration's 1981 and 1982 budgets were not irresponsible because projections of the time indicated surpluses would be available to cut taxes and increase defense spending while still allowing for a balanced budget, and that subsequent deficits were chiefly due to the unforeseen recession which followed; US.