Roadblocks to Recovery

Those deep deficits and steep interest rates alarm TIME's economists

A strong recovery from the recession that now grips the U.S. economy will be virtually impossible unless quick action is taken to curb record federal deficits and thus bring down oppressive interest rates. That was the somber verdict of TIME's Board of Economists, which met in New York City last week to review President Reagan's 1983 budget and assess its impact on the economy. The board applauded the dramatic progress that Reagan has made in cooling inflation and restoring incentives for investment, but feared...

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