Second Concurrent Resolution on the Budget, Fiscal Year 1977: Hearing Before the Committee on the Budget, United States Senate, Ninety-fourth Congress, Second Session, August 26, 1976 |
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0.2 percentage points 7.5 percent annual rate Arthur Burns assumptions average baseline forecast billion bottleneck budget business cycle capacity utilization capital per worker Chairman MUSKIE Chart committee concurrent resolution Congress consumer decline deficit dollars economy estimated expansion expansionary expected factors Federal Reserve fiscal policy fiscal year 1977 fixed investment growth rate high-employment housing inflation rate interest rates inventory investment labor force lower M₁ M₂ ment monetary policy money supply nondurable outlays outlook output per worker plant and equipment potential output price increases problem productivity growth projected public employment quarter of 1975 Quarters after Trough range rate of growth rate of inflation recent recession reduce revenue rise RIVLIN seasonal adjustment second quarter sector Senator BELLMON Senator BUCKLEY Senator MCCLURE shortages slowdown spending targets tax expenditures thrift institutions Treasury bill trend Trough dates U.S. Department unem unemployed unemployment rate utilization rates V₁ wage