The 1992 Economic Report of the President: Hearings Before the Joint Economic Committee, Congress of the United States, One Hundred Second Congress, Second Session ....U.S. Government Printing Office, 1992 - Business & Economics |
Other editions - View all
Common terms and phrases
American Aschauer average BELOUS benefits billion blue-collar blue-collar workers budget deficit capital gains tax Chairman changes Committee competitive Congress Congressman corporate cost debt decline defense dollar domestic economic growth economists effect estimates federal funds rate Federal Reserve fiscal drag fiscal policy fiscal stimulus funds future going hearing impact increase inflation infrastructure infrastructure capital interest rates Japan KOSTERS KUDLOW labor LACEY layoffs long-run long-term lower Marshall Plan ment monetary policy peace dividend percent of GNP permanent PERRY Plan for America private capital private investment problem productivity growth programs public investment recession recovery reduce REPRESENTATIVE ARMEY REPRESENTATIVE HAMILTON revenues savings Senate Budget Committee SENATOR LOTT SENATOR SARBANES SENATOR SASSER short-term spending strategy structural deficit talking tax credit tax cuts tax rate term Thank things TOBIN Treasury trend unemployment rate white-collar workers
Popular passages
Page 195 - Just as business must continually reinvest in order to prosper, so must a nation. Higher productivity — the key to higher living standards — is a function of public, as well as private, investment. If America is to succeed in an increasingly competitive world, we must expand efforts to equip our children with better education and our workers with more advanced skills. We must assure that disadvantaged children arrive at school age healthy and alert. We must prevent drug abuse and dropping out...
Page 348 - Federal government to recreate the concept of the national interest. Thus, we can no longer tolerate behavior that might enrich some selected individuals but which damages the national economy. When situations such as this arise, it is legitimate for the Federal government to make some effort to reverse them by jawboning or by other means. d) . It seems clear that one additional role of the Federal government will be to act as a catalyst in achieving our economic objectives. Thus, there will be times...
Page 348 - Federal government to develop these quantitative targets, but it is also important for them to be presented to the country at large, so that individuals, corporations, etc., have some understanding of where we want to be. b) The Federal government should act as an example for the private sector by channeling as much of its own funds into productivity- enhancing expenditures as possible, by eliminating waste and inefficiency, etc.
Page 249 - For every dollar of private capital in place there is 56 cents of public capital The report shows that today public infrastructure investment is a higher economic priority than private investment; the pay-off in GNP growth from an extra dollar of public capital is estimated to exceed that of private investment by a factor of between two and five Public investment in...
Page 275 - Inadequate government infrastructure can impede improvements in productivity growth [and] taking advantage of productive opportunities to maintain and improve the infrastructure is an important part of Federal, State and Local government policies to raise economic growth.
Page 143 - It would be unsound and contradictory to suppose that that which has never been accomplished can be accomplished, except by means which have not yet been tried." You should be commended for approaching this with a new method of having hearings, and I do appreciate the privilege of being here with this distinguished panel. However, I would like to echo the thoughts of Vic Fazio.
Page 248 - ... private sector productivity, profitability, and investment Specifically, the report argues that the slow-down in spending for infrastructure over the past 25 years has been a major cause of the US. economy's poor performance since 1970. More than half of the decline in our productivity growth over the past two decades can be explained by lower public infrastructure spending, which has dropped to less than one-half of one percent of total output The shortfall between our present stock of public...
Page 248 - ... percent — a 50 percent increase in the average rate of expansion of our productive capacity The model is based on statistical studies of the effects of public investment on the economy using historical data for the aggregate US.
Page 140 - Congestion now affects more areas, more often, for longer periods, and with more impacts on highway users and the economy than at any time in the nations history,