Administration advisers squabble, and the recession may be deepening
Even as he basked in the glory of his unexpected victory in the AWACS vote in the Senate last week, President Reagan received still more bad news about the state of the American economy. Not only has the U.S., by the President's own admission, dropped into its second recession in 15 months, but the business dip may be both deeper and longer than Reagan predicted. The Government's index of leading economic indicators, which is supposed to portend future business trends, showed a sharp 2.7% drop...
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