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achieved American Economic Association automatic flexibility balanced budget board of trustees boom budgetary business activity cash budget Chairman Christian Sonne clear-cut reason Congress contribute to economic countercyclical course credit policies decrease deficit deflationary document dollar economic judgment ECONOMIC REPORT economic stability effect Employment Act expansionary EXPENDITURE AND REVENUE expenditure programs fiscal policy formula flexibility FRANK BUCHANAN going Government expenditures Government's impact inflation joint committee Keynesian legislation LELAND let us say measures ment monetary money and credit national debt National Planning Association nomic percent periods of depression periods of prosperity personal opinion planned economies political present principle private business private economy problem professor of economics purchasing power question recession repercussions result savings secular Senator DOUGLAS Senator FLANDERS SEPTEMBER 23 SMITHIES statement stimulate subcommittee tax rates tax reductions taxation thing unanimously unbalanced UNITED STATES SENATE University upward swing WRIGHT PATMAN