Increasingly prices are set by sellers to raise their prices without a loss of sales sufficient to wipe out the gain.

Balancing a nominal budget will solve nothing, and attempting to achieve such a spurious balance will produce much mischief.

Larger deficits are necessary and proper means to mitigate unemployment as the far greater evil in terms of human welfare.

There is no real justification for a requirement that a budget of any sort should be balanced, except as a rallying point for those who seek to hamstring government.

The nominal budget is a poor indicator of the impact of government outlays and revenues.

Increasingly prices are set by sellers to raise their prices without a loss of sales sufficient to wipe out the gain.

I define genuine full employment as a situation where there are at least as many job openings as there are persons seeking employment, probably calling for a rate of unemployment, as currently measured, of between 1 and 2 percent.