Journal Article The Balanced Budget: Reply Get access Jesse Burkhead Jesse Burkhead Syracuse University Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 69, Issue 1, February 1955, Pages 155–156, https://doi.org/10.2307/1884857 Published: 01 February 1955

Introduction, 191. — I. Views of the classical economists, 192. — II. Major characteristics of Keynesian thinking about national debt and deficits, 206. — III. Reasons for slight Keynesian impact on prevalent attitude towards government debts and deficits in this country, 210; reasons for widespread acceptance of doctrine of balanced budgets for the federal government, 212.

THE decade of the I940'S brought a phenomenal increase in the of living of the people. Common observation bears this out; available data permit its quantification. When per capita disposable personal income adjusted for price changes is used as the best measurement of the standard of living, it would appear that the lot of the average American was about 30 per cent better in I949 than in I940 2 A series showing per capita real incomes is published periodically by the Council of Eco-