Word: feldstein
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...federal budget deficit, which is expected to reach $200 billion this year. The deficit depressed Wall Street, alarmed businessmen and created a civil war among President Reagan's advisers. Treasury Secretary Regan argued that strong growth and spending cuts would take care of the budget gap, but Martin Feldstein, chairman of the Council of Economic Advisers, publicly maintained that a tax hike was needed. Said Feldstein, who resigned in July to return to teaching at Harvard: "The longer the deficits are allowed to persist, the greater are the risks to our economy...
...Reagan Administration, though, the CEA has had little clout. The first chairman was Murray Weidenbaum of Washington University in St. Louis, who resigned after 18 months on the job because he had only minimal influence on policy. He was succeeded by Harvard's Martin Feldstein, the CEA chairman from October 1982 until last July. Unlike such previous advisers as Arthur Burns and Alan Greenspan, who sometimes disagreed with official policy behind closed doors in the Eisenhower and Ford Administrations, Feldstein broke ranks in public, calling for a tax increase and warning that the federal deficit could throttle the recovery...
...welcome back for Marry S. Feldstein. Who's got all of Ec 10 marching in line. Here's a Marx reader for further conjecture. In case you have missed that supplement lecture. For colleagues Stan Hoffman, Carnesale and Nye. More says to make Yankees and Russians say "hi." For Nye for Retch and for Dick Neustadt too. No chants in the Cabinet are waiting for you. Not even the Bay State went for old Fritz--For Labor or Treasury, ply the GOP with your wits...
...would be a mistake" to abolish the council, Feldstein said in a prepared statement this week. The President would have to turn to "politicians at the White House and the Treasury" for economic advice...
...Yale economist speculated in The Globe on Wednesday that "the immediate reason is that the President doesn't want people around like Martin Feldstein...