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ability additional administration argue arguments Arthur Laffer balanced budget benefits borrowing budget deficits Business Week Congress crease create decrease demand management Depression economic growth economic policy economic recovery economists eliminate expand expenditures fall federal budget federal government Federal Reserve fiscal policy full employment funds goals gold standard government spending high interest rates impact incentives inflationary pressure interest rates issue Jude Wanniski Kemp Keynesian Laffer curve long-run major ment Milton Friedman Monetarist Monetarist theory monetary policy money supply output percent period plant and equipment ployment President Reagan president's program price increases primarily private sector production projected promised proposed Proposition 13 rate of growth rational expectations Reaganomics recession reduce result rise spending cuts stability stimulate Stockman supply of money supply-side theory tax base tax bill tax credit tax cut tax increase tax rates tax revenues taxpayers tion Treasury unem unemploy unemployment rate Wall Street Journal