Clintonism, Monicagate and the budget

Doug Henwood dhenwood at panix.com
Tue Feb 9 10:33:24 PST 1999


Brad De Long wrote:


>That's not the choice we have: our Speaker is not named Gephardt. Our
>choice this year and next year is between tax cuts for the rich and debt
>paydowns.

How much risk to growth is there in a debt paydown? Do you think it could lead to stagnation or even a severe recession? Or will the U.S. be the Ireland of the 21st century, booming under a regime of fiscal austerity?

Doug



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