Work was under way on the Gramm-Rudman effort to limit spending, and Fed Chairman Paul Volcker was encouraging deficit reduction, hinting at looser monetary policy if Congress would cut back.
We've got a Federal Reserve that is in essence monetising the debt and encouraging more deficit spending .These broadsides are less threatening to the Fed's independence than they appear.
Liberals say the president has prematurely encouraged the Democratic deficit hawks in Congress by his own anti-deficit rhetoric.
Not trying too hard to cut the budget deficit encouraged the economy to recover nicely.
And along with the federal budget deficit he encouraged (and the Republicans' drunken spending spree that followed) the money ordinary Americans circulate was buried under a mountain of new debt and new claims on the money supply from Wall Street.
The threat of blunt and unpleasant action was supposed to encourage pre-emptive deficit reduction.
The government's long-term economic plan involves cutting the deficit, encouraging growth, creating jobs, boosting productivity and increasing exports.
The report recommended eliminating the city's structural deficit, encouraging private-sector investment, public financing to rebuild the infrastructure and strengthen local government.
At a stroke, that would narrow the budget deficit, encourage conservation, reduce oil imports, make renewable energy more competitive and reduce carbon emissions.
If the Republican counterparts or some Democrats have a great idea for us to raise revenue, maintain progressivity, make sure the middle class isn't getting hit, reduces our deficit, encourages growth, I'm not going to just slam the door in their face.
