Vietnam or Thailand ? Vote for the TOP Country of the Week !
Updated: June 21, 2025
To attain some of these objectives and to meet the other needs of the United States in the reconversion and postwar period, I have from time to time made various recommendations to the Congress. In making these recommendations I have indicated the reasons why I deemed them essential for progress at home and abroad.
We coined the word "stagflation" to describe this. Government's response to these recessions was to pump up the money supply and increase spending. In the last 6 months of 1980, as an example, the money supply increased at the fastest rate in postwar history 13 percent. Inflation remained in double digits, and government spending increased at an annual rate of 17 percent.
The budget recommendations I shall shortly transmit to the Congress show that we can expect a substantial improvement in our fiscal position over the next few years, as the cost of some of our extraordinary postwar programs declines, and as the Government revenue rises as a result of growth in employment and national income.
Word Of The Day
Others Looking