Clinton’s Economic Plan

Louise Davidson

Chapter 16 in Uncertainty, International Money, Employment and Theory, 1999, pp 221-226 from Palgrave Macmillan

Abstract: Abstract In March 1992, 1 was one of 100 economists (including 6 Nobel Prize winners) who sent an open letter to President Bush and members of Congress urging immediate action to solve our short-term and longer-term depressing unemployment problem. The 100 economists recommended (a) spending an additional $50 billion per year for the next five years for infrastructure, (b) an investment tax credit targeted only for additional investment projects undertaken, and (c) not to worry about federal deficit reduction for at least three to four years when the economy will be growing sufficiently so that the National Debt as a proportion of Gross Domestic Product will fall. Taxes should not be increased nor government spending cut merely to lower the current government deficit in the next two to three years.

Keywords: Government Spending; Conventional Wisdom; Nobel Prize Winner; American Worker; Open Letter (search for similar items in EconPapers)
Date: 1999
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DOI: 10.1007/978-1-349-14991-9_16

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