Economic impact of spending reductions: hearing before the Committee on Finance, United States Senate, Ninety-eighth Congress, second session, January 2, 1985
U.S. G.P.O., 1985 - Business & Economics - 127 pages
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Press release announcing hearing
Letter to Roderick A DeArment from Peter F McCloskey president Elec
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$25 billion adjusted assumed average beneﬁts Bob Packwood bond bracket creep budget deficit Chairman Congress cost of capital crowding debt service decline defense deﬁcit reduction depreciation difﬁcult dollar domestic investment economic growth economic impact effect entitlement programs exports federal deficit Federal Reserve Federal spending FELDSTEIN ﬁnance ﬁnancial markets ﬁnd ﬁrst ﬁscal future going government spending GREENSPAN impact of spending income tax inflation inﬂow infrastructure investor labor legislation Medicare ment nominal interest rate Paul Craig Roberts payroll tax percent of GNP present value price of capital problem rate of return real after-tax real interest rates recession recovery reduce the deﬁcit return to capital rise ROBERTS SCHULTZE sector Senator BAUCUS Senator MOYNIHAN Senator PACKWOOD service price share of GNP signiﬁcant Social Security spending cuts spending freeze spending reductions statement substantial tax increases tax rate taxation U.S. dollar U.S. Treasury U.S. Treasury Department