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PAD-82-45 1 (1982-08-31)

handle is hein.gao/gaobabdps0001 and id is 1 raw text is: RELEASED REs1.Crgm Not t. bt released outsde the 00.dr, - AceetentVg Ofee xcept on t he, bar Y THE COMPTROLLER GRI 'E AL leport To The Chairman ,ommittee On Appropriations J.S. House Of Representatives DF THE UNITED STATES An Analysis Of Fiscal And Monetary Policies the U.S. economy is in its eighth recession ;ince the Second World War. GAO analyzes :iscal and monetary policies and their con- ribution to the current recession. 3AO's analysis, complemented bythe view- )oints of nationally prominent economists, )usiness leaders, and financial leaders, 'oncludes that any approach to revamping ,conomic policy be built around the fol- owing principles: --Economic policy should be based on a long-run objective of moderating infla- tion while stimulating economic invest- ment. --Adjustments in economic policy should be gradual and moderate. --Fiscal and monetary policies should be based on consistent long-run employ- ment, price level, and economic growth goals that are achievable. )verall, a marginal easing of monetary )olicy and a substantial reduction in future )udget deficits seem appropriate policy ictions. 119422 GAO/PAD-82-45 AUGUST 31, 1982

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