Ways to Narrow the Budget Gap

Everyone agrees that the budget deficit must be slashed, but when talk turns to methods of reaching that goal, the consensus collapses. President Reagan demands curb cuts in social spending, while many in Congress want to curb the defense budget and raise taxes. TIME'S Board of Economists concluded that the only feasible solution to the deficit problem is a compromise that combines all three achieving strategies. Said Alan Greenspan: "Compared with achieving arms control or peace in Lebanon, it should really be quite easy to resolve the budget crisis. All it requires is...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!