FISCAL YEAR 1978 BUDGET Y 4.3 853: 13857/978 5-1 HEARINGS BEFORE THE COMMITTEE ON THE BUDGET HOUSE OF REPRESENTATIVES NINETY-FIFTH CONGRESS FIRST SESSION MARCH 1, 2, 3, 4, AND 14, 1977 Printed for the use of the Committee on the Budget THE COMMITTEE ON THE BUDGET JIM WRIGHT, Texas ELIZABETH HOLTZMAN, New York DONALD FRASER, Minnesota WILLIAM LEHMAN, Florida JOSEPH L. FISHER, Virginia NORMAN Y. MINETA, California DELBERT L. LATTA, Ohio JAMES T. BROYHILL, North Carolina GEORGE GROss, Executive Director BRUCE MEREDITH, Assistant Director, Budget Priorities NANCY TEETERS, Assistant Director, Economic Analysis WENDELL BELEW, Chief Counsel WILLIAM LILLEY III, Minority Staff Director (II) Anderson, Dr. Bernard E., the Wharton School, University of Penn- Bell, Dr. Carolyn Shaw, Coman professor of economics, Wellesley Blumenthal, Michael W., Secretary of the Treasury. Burns, Arthur F., Chairman, Board of Governors of the Federal Cohen, Richard, on behalf of the National Committee of the U.S. Dolbeare, Cushing N., chairperson, National Executive Committee of Americans for Democratic Action_. Lance, Bert, Director, Office of Management and Budget- Leggett, Hon. Robert L., a Representative in Congress from the Meltzer, Allan H., Maurice Falk professor of economics and social 208 Rivlin, Dr. Alice M., Director, Congressional Budget Office; accom- panied by James L. Blum, Assistant Director and Frank de Leeuw, Santow, Leonard Jay, senior adviser, J. Henry Schroder Banking Schultze, Charles L., Chairman, Council of Economic Advisers_ -- Shiskin, Julius, Commissioner of Labor Statistics; accompanied by 1 160 American Federation of Government Employees, letter dated March 29, 1977, to Chairman Giaimo from Kenneth T. Blaylock, president, with attached prepared statement_- American Medical Association, letter dated April 4, 1977, to Chairman Bell, Dr. Carolyn Shaw, prepared statement with enclosure entitled 49 (III) Additional information-Continued Blaylock, Kenneth T., president, American Federation of Government Budget Receipts by Source_ Comparison Between January Budget Estimates of Receipts Bolling, Hon. Richard: Letter to Chairman Giaimo dated March 11, 1977, on behalf of Charts to statement: Alternative Recovery Paths. 1977: Projected Real Growth Rate by Quarters and Burns, Arthur F.: Carlson, Dr. Jack, vice president and chief economist, on behalf of "Draft of an Act to Establish the Third National Bank of the United States and to Restore the Nation's Credit," article submitted from the U.S. Labor Party- Tables submitted on Proposed Figures for ERDA Programs- Table I.-Proposed Total Fiscal Year 1978 Fusion Research Budget-Comparison of FERDA, ERDA Fiscal 1978, and Page 343 248 251 251 317 295 298 299 117 136 351 Table III B.-Major Confinement Systems Projects. Joint Economic Committee, letter dated March 11, 1977, from Con- Additional information-Continued Remarks before the Governors Conference, Los Angeles Con- vention Center, March 8, 1977__ "Selected Obligations and Expenditures for Disaster Relief Summary of Disaster-Related Federal Statutes__ Meltzer, Allan H.: Inflation, Taxes, and the Deficit table referred to in oral testimony. to comment on budget cuts and general tax reductions_ _ _ . Nathan, Robert R., prepared statement... Table 2.-Unemployment, Inflation, and Budget Surplus or Sammons, Dr. James H., letter dated April 4, 1977, to Chairman Budget Estimates, Fiscal Years 1976–77 and 1977–78_ Schultze, Charles L., prepared statement_ _- Shiskin, Julius: Labor Force and Unemployment, article published by Bureau of Prepared statement with attachments_ Chart-Unemployment Indicators, 1953 through Fourth Table 1.-Range of Unemployment Measures Based on Varying Definitions of Unemployment and the Labor Force, Seasonally Adjusted_ - - Table 2.-Required Increase in Employment Under Various Growth Targets for Decreases in the Unemployment Rate and Assumed Growth in Table A.-Not in Labor Force, Want Job Now, Total Think Snyder, Edward F.: Comments in response to Congressman Regula entitled, "Speed 176 Enclosures to comments: Memorandum on Disarmament, dated March 2, 1977_ _ _ 176 |