The Nation: Ford's Budget: Too Tight? Just Right?

Will President Ford's budget help the recovery? Or slow it? Or something in between? The nation's leading economists, who failed as a group to predict the nature of the recession or anticipate its depth, immediately—and predictably—differed on the answers.

There was a consensus among the economists, however, that whatever is done about the budget will have little effect on the recovery this year. There was also general agreement with Ford's estimate that real output will expand about 6.2% this year, compared to a 2% dip last year. But the economists are worried—and sharply at odds with one another—about the impact of the...