Unlike Reaganomics, his macro-economic policy emphasised the need to narrow the budget deficit rather than engage in unilateral tax cuts; despite these measures the budget deficit remained on average 3% of GDP during Howe's tenure.
His macro-economic policy emphasised the need to narrow the budget deficit rather than engage in unilateral tax cuts. This was unlike Reaganomics. The budget deficit remained on average 3% of GDP during Howe's tenure. This was despite these measures.