Economic And Budget Outlook Fiscal Years 1995 Through 1999

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ISBN 13 : 9781332258932
Total Pages : 60 pages
Book Rating : 4.2/5 (589 download)

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Download or read book Economic and Budget Outlook; Fiscal Years 1995 Through 1999 written by and published by . This book was released on 2015-08-05 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Economic and Budget Outlook; Fiscal Years 1995 Through 1999: Hearing Before the Committee on the Budget, House of Representatives, One Hundred Third Congress, Second Session, February 2, 1994 The committee met, pursuant to call, at 10:11 a.m., Room 210, Cannon House Office Building, Hon. Martin Olav Sabo, Chairman, presiding. Members present: Representatives Sabo, Stenholm, Frank, Coyne, Gordon, Price, Johnston, Orton, Blackwell, Pomeroy, Browder, Woolsey Kasich, Kolbe, Shays, Snowe, Herger, Bunning, Smith of Texas, Cox, Allard, Hobson, Miller, Lazio, Franks, Smith of Michigan, Inglis, and Hoke. Chairman Sabo. Good morning. The committee will come to order. The House Budget Committee is in session for a hearing on the economic and budget outlook for fiscal years 1995 through 1999. Our witness today is Dr. Robert Reischauer, Director of the Congressional Budget Office, which released its annual economic and budget outlook last Thursday. You are always welcome here, Bob, but especially when you bring good news. And you are doing that today. In your own words, there has been a dramatic improvement in the deficit projections over the projections of just a year ago. And you give the major share of the credit to the Budget Reconciliation Act that Congress so narrowly passed last August. The graph on the right tells that good-news story. The Reconciliation Act, which embodied the Clinton economic plan, clearly is working. Building on the Reconciliation Act of 1990, we are restraining spending and we are strengthening our economic recovery. And I might add, that really that is what it was all about. And the projections, that show close to 2 million new jobs created in the last year is indeed good news, and those projections continue in the future. For the first time since the Truman Administration, we can look forward to four consecutive years of declining deficits. In the chart on the right, as I indicate, the difference between the red line and the blue line, projects that difference. When we passed the Budget Act in August, we made certain projections of deficits for 1994 through 1998. I note that your current estimate of those numbers is $178 billion less than what we were indicating as we passed that act. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.