How to implement the Full Employment and Balanced Growth Act of 1978: toward 4 percent unemployment, 3 percent inflation, and a balanced budget by 1987
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3.9 percent achieve average annual rate Balanced Growth Act beneﬁts billion ﬁscal 1984 Budget for ﬁscal calendar Chart chronic rise Congress current national policies domestic economic growth rate Economic Report economists Employment Act Employment and Balanced estimated excessive Federal Budget outlays Federal deﬁcit Federal Reserve Federal Reserve Board Federal Reserve System ﬁgure ﬁrst fiscal ﬁscal 1984 dollars ﬁxed fourth quarter Full Employment Government H UMPHRE Y-HA Hawkins housing Humphrey-Hawkins Act Inadequate Upturn incomes policy inflation inﬂation rate inﬂationary interest costs interest rates investment James Tobin Keyserling ment money supply national economic policies needed nomic outlook period policy makers President President’s recommendation proﬁts programs public outlays rate of real real economic growth reduced roller-coaster economic performance roller-coaster performance spending stagnation and recession study proposes study’s tax changes tax reductions tion TOLEDO LA WRE trade-off trends ultimate demand unem unemployment University of Toledo WRE VIE