This preview shows page 1. Sign up to view the full content.
Unformatted text preview: obvious targets for savings would be expensive new arms programs, which have racked up cost overruns of at least $300 billion for the top 75 weapons systems, according to the Government Accountability Office ” (NY Times). Theoretically, ceteris paribus, cutting off this $300 billion will reduce a considerable amount of jobs and profits, thus increasing the unemployment rate and outcomes. However, in fact when “all else are not equal”, this cut-off might be a solution to balance the spending by investing in other important fields. In so doing, the relative great amount of money cut off will be used to fix the economy problem....
View Full Document
This note was uploaded on 03/10/2011 for the course ECON 101 taught by Professor Duc during the Spring '05 term at Linfield.
- Spring '05