Ten billion dollars less of deficit means 10 billion less of disposable income ... and a loss of at least 100,000 jobs.
More Quotes from William Vickrey:
Don't you think you're just rearranging deck chairs on the Titanic?William Vickrey
The nominal budget is a poor indicator of the impact of government outlays and revenues.
William Vickrey
There is no reason inherent in the real resources available to us why we cannot move rapidly within the next two or three years to a state of genuine full employment.
William Vickrey
The insane pursuit of the holy grail of a balanced budget in the end is going to drive the economy into a depression.
William Vickrey
Balancing a nominal budget will solve nothing, and attempting to achieve such a spurious balance will produce much mischief.
William Vickrey
Larger deficits are necessary and proper means to mitigate unemployment as the far greater evil in terms of human welfare.
William Vickrey
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