Budget Process Testimony of Dr Robert D Reischauer Director Congressional
Budget Process Testimony of Dr Robert D Reischauer Director Congressional
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And yet the Congress and the President did not enact a big stimulus program the way it had done in many years before. The sole reason for that — and this restraint occurred as we moved up toward an election where the outcome was terribly un- certain and it was in everybody's political interest to provide fiscal stimulus and the Congress and the President showed immense re- straint. I think Mr. Spratt. I think you would agree that we switched from having projected numbers on target, under Gramm/...Rudman, to having a finite fixed limit in dollar terms on discretionary spend- ing under the Budget Enforcement Act. Mr. Reischauer. Basically, the Budget Enforcement Act said, "You have agreed to a set of spending cuts and revenue increases. This procedure is going to make sure that you don't undo what you have already agreed to. " It has been very effective at doing that. Budget processes, as I said, aren't very successful at forcing you to achieve some goal that in the abstract you have agreed to for the future, such as the deficit being X billion dollars in 1996.
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To quickly assess the difficulty of the text, read a short excerpt:
And yet the Congress and the President did not enact a big stimulus program the way it had done in many years before. The sole reason for that — and this restraint occurred as we moved up toward an election where the outcome was terribly un- certain and it was in everybody's political interest to provide fiscal stimulus and the Congress and the President showed immense re- straint. I think Mr. Spratt. I think you would agree that we switched from having projected numbers on target, under Gramm/...Rudman, to having a finite fixed limit in dollar terms on discretionary spend- ing under the Budget Enforcement Act. Mr. Reischauer. Basically, the Budget Enforcement Act said, "You have agreed to a set of spending cuts and revenue increases. This procedure is going to make sure that you don't undo what you have already agreed to. " It has been very effective at doing that. Budget processes, as I said, aren't very successful at forcing you to achieve some goal that in the abstract you have agreed to for the future, such as the deficit being X billion dollars in 1996.
What to read after Budget Process Testimony of Dr Robert D Reischauer Director Congressional?
You can find similar books in the "Read Also" column, or choose other free books by United States Congress Joint Committee On the Or to read onlineMoreLess
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