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Question
What did Lyndon Johnson's economic advisers specifically warn him about in December 1965?
1
European allies would demand higher interest rates on dollar holdings if the US ran persistent deficits
2
The Federal Reserve would raise interest rates if government spending exceeded 20% of GDP
3
Funding Vietnam and the Great Society simultaneously without a tax increase would produce inflation
4
The domestic bond market could not absorb both military and Great Society spending without a credit crisis
Press 1–4 to pick an answer
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