Beginning to Build Up Steam

TIME'S Board of Economists sees a stronger recovery but fears huge deficits

The U.S. economy, which looked so feeble just six months ago, is snapping back from the most painful slump since the Great Depression with a vigor that is surpassing even optimistic expectations. That was the conclusion of TIME'S Board of Economists, which met last week in New York City. Said University of Minnesota Professor Walter Heller, who was chief economic adviser in the Kennedy and Johnson Administrations: "After several years of recession and stagnation, this recovery is the real thing."

The...

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