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Editor's Note, Padraig O'Malley
Editor's Note, Padraig O'Malley
New England Journal of Public Policy
Four years ago, in the 1988 Summer/Fall issue of the New England Journal of Public Policy, we wrote,
"[The two] presidential candidates, Michael Dukakis and George Bush, [proved] themselves extraordinarily adept time and again at not addressing any of the excruciatingly difficult choices a new administration will have to make. But the realities the new president will face cannot be indefinitely obscured. The prosperity we enjoy, the unparalleled splurge in consumption during the 1980s, has been fueled by borrowing against the future. Although this observation is not especially new — and repetition has robbed it of urgency — what …