Was there a production gap when Kennedy assumed the presidency in January 1961? How large was it? Assume a GNP growth rate of 3.3% starting in 1955 and project forward using Excel document. Attach the file directly to the discussion board.

What were the critical economic issues (and assumptions) of the tax cut debate?

Did political considerations influence the debate? If so, what were they?

Was the Tax Cut of 1964 a supply-side or demand-side tax cut?

How successful was the Tax Cut of 1964? What general lessons do your conclusions suggest regarding use of fiscal policy as a macroeconomic management tool?