Saving Face or Saving Grace?
Article Abstract:
The Grace Commission's estimate that $424 billion could be saved if the federal government eliminated waste and mismanagement was not substantiated by the government's own departments. The Congressional Budget Office (CBO) and the General Accounting Office (GAO) only agreed on a ninety-seven billion dollar savings over three years. The chairman, J. Pete Grace, believes the discrepancy is due to timing. Despite the many criticisms of the report, Grace believes the report's findings can be reconciled with the GAO and CBO figures.
Publication Name: Barron's
Subject: Business, general
ISSN: 1077-8039
Year: 1984
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Consumer Savings Defy Logic
Article Abstract:
Reaganomics planned to lessen the growing budget deficit through consumer savings. The government cut taxes hoping consumers would save this extra money. Contrary to their plan, consumers did not save as much as was expected. History has shown that during an economic recovery, consumers replenish their savings. The reasons for this unusual consumer behavior are examined.
Publication Name: Industry Week
Subject: Business, general
ISSN: 0039-0895
Year: 1984
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