The Federal Budget as an Economic Document: Hearings Before the Subcommittee on Economic Statistics of the Joint Economic Committee, Congress of the United States, Eighty-eighth Congress, First Session, Pursuant to Sec. 5 (a) of Public Law 304 (79th Congress), Volume 7U.S. Government Printing Office, 1963 - 355 páginas Evaluates utility of budget of U.S. in analyzing Federal economic policies. |
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accrual activities administrative budget agencies appropriation assets balance basis benefits Billion Billion Billion borrowing budget document budgetary Bureau bursable Capital Budget changes COLM concept CONGRESS THE LIBRARY cost countercycle debt defense deficit Department dollars economic analysis economic document economic impact effect estimates Federal budget Federal Government figures finance fiscal policy forecasts full employment going Government's gross national product guilders important improve increase investment Joint Economic Committee kind legislative loans major markkas ment monetary monetary policy money supply Moor national income accounts NIPA nomic NOVICK obligational authority OKUN operations outlays payments percent Personnel planning present President prise and Total problem programs projections proposed purchases question receipts Reim Representative CURTIS revenue SCHMIDT SCHUCKMAN SCHULTZE Senator MILLER Senator PROXMIRE SHOUP statement statistical subcommittee surplus things tion transactions Treasury trust funds U.S. dollars WEIDENBAUM WILEDEN
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Página 212 - Federal purchases of goods and services, transfer payments, grants-in-aid to state and local governments, net interest paid, and subsidies less current surplus of government enterprises.
Página 229 - Federal budget is to serve not the debate but the country, we must and will find ways of clarifying this area of discourse. Still in the area of fiscal policy, let me say a word about deficits. The myth persists that Federal deficits create inflation and budget surpluses prevent it. Yet...
Página 237 - Lindahl attempts to solve according to the principles of marginal utility, marginal productivity, and supply and demand. The production of public goods should be carried on to the point where utility is just offset by costs, as is the tendency in the private economy, or where the marginal satisfaction is the same from both public and private goods. Public goods, like private goods, may be divided into producers' goods and consumers
Página 52 - Congress, as well as businessmen and economic analysts, to make better studies of the future implications of the Government's current intentions to make financial commitments. The question of future implications of current financial commitments is probably the point on which the present budget is most deficient. In the discussion of new obligational authority in the budget it is pointed out that not all of the obligational authority enacted for a fiscal year is spent in the same year. Also, that...
Página 189 - Hoyt ruled that such a contract would be lawful; that the appropriations limited by the Constitution "are those only which are to raise and support armies in the strict sense of the word 'support,' and that the inhibition of that clause does not extend to appropriations for the various means which an army may use in military operations, or which are deemed necessary for the common defense...
Página 242 - For example, a rapid expansion in new appropriations and in Government orders could stimulate a rise in business activity well before either the delivery of goods, the performance of services, or the payment for them. The management of public debt is a further factor which has a significant impact in the money and credit markets of the economy. Consequently, in evaluating the economic impact of Federal Government activities, there is no substitute for complete and detailed analysis of the Government...
Página 240 - States shall henceforth include a special analysis of all active long-term construction and development programs and projects authorized by the Congress, showing for each the total estimated cost, and the actual or estimated expenditures during prior fiscal years, the current fiscal year, the ensuing fiscal year, and subsequent fiscal years. All grant-in-aid programs shall be included in this analysis, in a separate grouping, showing under the heading 'Subsequent Fiscal Years' for grants of indefinite...
Página 229 - This budget, in relation to the great problems of Federal fiscal policy which are basic to our economy in 1962, is not simply irrelevant; it can be actively misleading. And yet there is a mythology that measures all of our national soundness or unsoundness on the single simple basis of this same annual administrative budget.
Página 189 - The inhibition of article I, section 8, clause 12, of the Constitution is confined to appropriations to raise and support armies in the strict sense of the word "support," and does not extend to appropriations for the various means which an army may use in military operations, or which are deemed necessary for common defense.
Página 241 - RECOMMENDED MODIFICATIONS IN BUDGET PRESENTATION The Committee recommends the following modifications in existing presentation in order to achieve greater public understanding of the government's budget proposals : 1. As stated previously, a comprehensive cash budget, carefully evolved and tested, should ultimately replace the present administrative budget. Major emphasis in budget presentation should then be focused on this method of estimating receipts, expenditures, and surplus or deficit for...