ECN 203 Chapter 15: Econ Chapter 15 Outline

What foreign-policy approach did Ronald Reagan promise to take if he was elected in 1980?

In most political campaigns, candidates promise more than they can deliver. In the United States, both Democrats and Republicans promise better health care, a better environment, only minor reductions in defence, better education, and an improved system of roads, bridges, sewer systems, water systems, and so on. What economic concept do candidates ignore?

This means the ability to borrow money with the promise to pay it back.