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註釋The authors examine the political and economic predicament faced by large Federal deficits, describe how the Federal budget outlook has evolved under President Reagan and explain how newly enacted legislation and economic developments worsened the deficit outlook. They find disparity between projected Federal revenues and outlays so great as to require action on all three major fronts for reducing the deficits: tax increases, a scaleback in the planned defense building and further restraint on defense spending. They conclude that given the pragmatic limits to spending control, about two-thirds of the deficit reduction may have to come through tax increases. ISBN 0-87766-327-0 : $8.95.