KENNEDY AND REAGAN AND EXPANSION (COMMENT). Dick Weisfelder and my brother Elmer commented here on my post on Kennedy and Reagan’s fiscal policies. Both seem troubled by tax cuts. I have some views, many deriving from 40 years ago, about different kinds of stimulus. But I was thinking in simpler and broader terms. Both Kennedy and Reagan explicitly stressed the need for economic expansion and growth. With unemployment at current levels. both parties should make economic expansion a priority. There are lots of ways to try to do it, but it seems to me that the decision to expand must come first. I also think that a policy of giving priority to full employment without inflation should always have been the policy. I think that for most of my lifetime it was.

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