Word: galbraithe
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John Kenneth Galbraith, Warburg Professor of Economics, yesterday told a Senate subcommittee that Congress should raise taxes in order to reduce the $12 billion budget deficit projected by President Nixon for the year ahead...
...Galbraith said last night that he advised the Senate subcommittee on government operations that a large deficit would cause increasing inflation...
...Congress reacts to a tax increase like a clergyman reacts to pornography," Galbraith said. "He wants it to go away. But a tax increase is the most sound fiscal policy at this time...
...Galbraith appeared before the sub-committee to testify on behalf of a proposal which is designed to enable Congress to gain control of the budget from the President...
...John Kenneth Galbraith, Warburg Professor of Economics not "leaked" this privy information to the public, at least one faculty member in the Department, Otto Eckstein, professor of Economics, would still be on full time status at the University while spending much of his time at Data Resources, Inc., a more lucrative venture, no doubt...