THE ECONOMY AND FISCAL POLICY, 1974

43-891

HEARINGS

BEFORE THE

COMMITTEE ON THE BUDGET

UNITED STATES SENATE

NINETY-THIRD CONGRESS

SECOND SESSION

DECEMBER 11, 12, 17, 18, AND 19, 1974

Printed for the use of the Committee on the Budget

U.S. GOVERNMENT PRINTING OFFICE

WASHINGTON: 1975

Eckstein, Dr. Otto, professor of economics, Harvard University.

Okun, Dr. Arthur, senior fellow, Brookings Institution__

Weidenbaum, Prof. Murray, Mallinckrodt distinguished university profes-

sor, Washington University-.

THURSDAY, DECEMBER 12, 1974

Ash, Hon. Roy L., Director of Office of Management and Budget, accom-

panied by Dale McOmber, Assistant Director, and Robert Bonitati,

Assistant to the Director for Congressional Relations_.

TUESDAY, DECEMBER 17, 1974

Simon, Hon. William E., Secretary of the Treasury; accompanied by Edgar

R. Fiedler, Assistant Secretary for Economic Policy; and Sidney L.

Jones, Counselor to the Secretary of the Treasury.

7

15

19

49

102

WEDNESDAY, DECEMBER 18, 1974

Davidson, Dr. Paul, professor of economics and associate director of the

Bureau of Economic Research, Rutgers University, New Brunswick,

N.J.

138

Erickson, Prof. Edward W., professor of economics and business, North

Carolina State University_.

191

White, Lee C., Chairman, Energy Policy Task Force of Consumers Federa-

tion of America__.

234

THURSDAY, DECEMBER 19, 1974

Schultze, Charles L., former Director of the Bureau of the Budget and

senior fellow at the Brookings Institution---.

Staats, Elmer B., Comptroller General of the United States, accompanied

by Robert F. Keller, Deputy Comptroller General; Phillip S. Hughes,

Assistant Comptroller General; Milton J. Socolar, Deputy General Coun-

sel; and Richard R. Pierson, Assistant General Counsel‒‒‒‒

335

359

STATEMENTS

Ash, Hon. Roy L., Director of the Office of Management and Budget, accom-
panied by Dale McOmber, Assistant Director, and Robert Bonitati,
Assistant to the Director of Congressional Relations___

Davidson, Dr. Paul, professor of economics and associate director of the

Bureau of Economic Research, Rutgers University, New Brunswick,

N.J.

49

138

Prepared statement___

146

(III)