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Gordon Warns Balanced Budget Hurts Economy
Budget Director Kermit Gordon told a congressional committee that a balanced budget could raise unemployment toward 10 percent, slash federal revenue, and cut GNP by 50 to 60 billion annually. He urged growth to solve deficits, while lawmakers debated tax cuts and spending limits. Washington Post News Service
MENTIONED IN THIS ARTICLE
Washington
Kermit Gordon
Congressional
Senate
House Economic Committee
Gordon
President’s Council of Economic Advisers
Martha W. Griffiths
Dmich
Griffiths
Congress
Harry F. Byrd
D-Va
Senate Finance Committee
Thomas B. Curtis
R-Mo