Senator Kennedy: Let's suppose that every governor in every state, and every legislature in every state, got together tomorrow, and said, 'We are going to freeze our budgets. We're not going to spend a penny more than already budgeted'. Would that help?

Powell [acting dumb]: Would it help…Would it help with?

Kennedy: Reduce inflation.

Powell: It would depend on…it might. It would take…again…I'm scoring fiscal policy. I'm reluctant to do it.