ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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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.

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