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Volume 4  Number 3  •  Winter 2000
Other Issues:  

Ronald Reagan and the Rise of Large Deficits: What Really Happened in 1981
By Timothy J. Muris
This article appeared in the Winter 2000 issue of The Independent Review

The federal budget deficits of the early 1980s are often blamed on irresponsible economic forecasts of the Reagan administration. In reality, those forecasts were only slightly more optimistic than others, which also failed to predict the severe, deficit-driving recession.