The Economy: New Frontier's New Frugality

The strength required by the U.S. in its contest with international Communism depends heavily on the continued vigor of the nation's economy. Last week, in preparing the national budget—one of the biggest single factors in shaping the economy—President Kennedy made it clear that the Administration is concerned about the state of the economy and the heavy load it must bear to keep the U.S. in fighting trim. For the New Frontier, Kennedy decreed a new fiscal policy: frugality.

After raising the price tag twice, the Administration finally concluded that the budget deficit...

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