Growers Ditch Cotton Procurement Scheme

attaches to low taxation and high defence spending evidently far out weighs his concern for a third electoral promise: to balance the budget.
Indeed, whatever his ideological predispositions, Reagan seems to be enjoying the fruits of his large budget deficits. For despite all talk about supply- side economics, it is really the boost to demand through government deficits which has enabled the US economy to rise from the pits. The supply-side effects of tax cuts have remained elusive: the capital spending (and hence increased productivity) that these cuts were expected to generate are yet difficult to discern.