Second Concurrent Resolution on the Budget--fiscal Year 1980: Hearings Before the Committee on the Budget, United States Senate, Ninety-sixth Congress, First Session ... September 1979U.S. Government Printing Office, 1979 - 282 páginas |
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$50 million Administration Administration's assumed balanced budget billion in 1980 BLUMENTHAL budget authority Budget Resolution capital Chairman MUSKIE CHIMERINE Chrysler committee Congress congressional Consumer Price Index cost countercyclical Current estimate decline decontrol deficit economic assumptions economic policy effect energy prices energy security trust expected Federal Reserve fiscal policy fiscal year 1980 forecast gasoline going Government GRAMLEY higher HOADLEY impact income inflation rate inflationary interest rates investment Jim McIntyre JORGENSON March estimate MCINTYRE Military sales trust monetary policy months oil prices OPEC price increases outlay estimates outlook percentage point petroleum President problem production projected proposed real GNP real wage insurance receipts recession reduce reestimates revenues rise RIVLIN security trust fund Senator BELLMON Senator BIDEN Senator BOSCHWITZ Senator DOMENICI Senator KASSEBAUM social security synthetic fuels target tax cut things tion U.S. economy unemployment rate windfall profits tax
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Página 77 - I hope this information will be helpful to you, and if I can be of any further assistance, please do not hesitate to call on me.
Página 127 - The basic set of projections assumes the achievement of the medium-term goals specified in the Full -Employment and Balanced Growth Act of 1978, also known as the Humphrey-Hawkins Act.
Página 189 - The index shown here is that currently used, as required by law, in calculating automatic cost-of-living increases for indexed Federal programs. 2/ This indicator measures unemployment under State regular unemployment insurance as a percentage of covered employment under that program.
Página 112 - ... margins, as more resistance to price increases develops. Mortgage interest rates, moreover, are likely to level out relatively soon, so that the increase in costs of home financing should moderate. Energy prices will almost certainly continue to rise faster than other prices, but less rapidly than in the first half of the year.
Página 124 - Full Employment and Balanced Growth Act of 1978 (also known as the HumphreyHawkins Act) require the Fed to pursue policies that produce full employment as well as stable prices.
Página 31 - ... energy prices. At any given level of output, higher energy prices drive down the demand for energy. The short-run impact of changes in energy prices is rather modest. Over the long run. however, elasticity of demand for primary energy sources - crude petroleum, natural gas and coal - means that a 10 percent increase in the price of energy results in a 3 or 4 percent decrease in energy demand. Similarly, higher energy prices drive down the demand for capital because there is a decrease, for example,...
Página 31 - Complementarity of energy and capital is not surprising, since the space provided by structures must be heated or cooled and lighted through the use of energy. Similarly, the work performed by machinery and equipment requires energy as motive power.
Página 31 - ... What happens on the supply side of the labor market as workers face greater demands for their services ? In the short run, wages will rise and employment will increase. Higher wages and enhanced prospects for employment have accelerated the growth of the labor force. Rapid growth of the labor force has contributed to the persistence of high levels of unemployment in the face of rapidly expanding employment opportunities. The supply of capital is fixed in the short run, so that reduced demand...
Página 113 - ... Jimmy Carter, ever the optimist, ignored the advice. By late summer, the President's options looked much worse. Lyle E. Gramley, a member of the President's Council of Economic Advisers and former research director at the Federal Reserve Board, described the bind confronting White House policy makers: "We face a cruel dilemma. If policy actions are taken to offset slow growth and a rising unemployment rate, we will lose some of the gains we expect on inflation. If we tighten budgetary policy...
Página 189 - This indicator measures unemployment under State regular unemployment insurance as a percentage of covered employment under that program. It does not include recipients of extended benefits under that program.