Word: okun
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Dates: during 1980-1989
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...period in which inflation would still be hung up in double digits and unemployment would be growing. But for all the President's candor, the policy he outlined in his message and the new budget that preceded it were getting blasts last week even from Democrats. Said Arthur Okun, chief economic adviser to President Lyndon Johnson: "This is a program for muddling through an election year. It does not make hard choices...
...ensure only higher prices and lower growth. During the twelve years that inflation has been building up, Presidents have looked for painless, quick solutions that would get them past the next election. Carter now anticipates that national attention will remain focused on foreign concerns and off inflation. Says Economist Okun: "The President is running for re-election as military Commander in Chief. He has good reason to hope that nobody pays much attention to the domestic economy...