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Deficit
The result of when the government in one year spends more money than it takes in from taxes
National debt
The total deficit from the first presidency down to the present
Monetarism
The belief that inflation occurs when you much money is chasing too few goods
Keynesianism
The belief the government must manage the economy by spending more money when in a recession and cutting spending when there is inflation
Economic planning
The belief that government plans, such as wage and price, such as wage and price controls or the direction of investment, can improve the economy
Supply-side theory
The belief that lower taxes and fewer regulations will stimulate the economy
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