Word: superdeficit
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Bankers and moneymen are deeply worried by the prospect of a steady flood of gargantuan federal credit demands. Says David Jones, an economist with the New York-based Government securities firm of Aubrey G. Lanston & Co.: "The Administration is doing too much, too fast, by imposing this superdeficit on top of the monetary restrictions needed to wind down a decade and a half of inflation." Adds Philip Hummer, a partner in the Chicago securities firm of Wayne Hummer & Co.: "The financial community gets very emotional about these high deficits. It is absolutely wrong to say that they do not matter...
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