JOINT ECONOMIC COMMITTEE [Created pursuant to Sec. 5(a) of Public Law 304, 79th Congress] HOUSE OF REPRESENTATIVES JIM SAXTON, New Jersey, Chairman LAMAR SMITH, Texas CAROLYN B. MALONEY, New York SENATE JACK REED, Rhode Island, Vice Chairman ROBERT G. TORRICELLI, New Jersey LINCOLN CHAFEE, Rhode Island CHRISTOPHER FRENZE, Executive Director (ii) CONTENTS 1 Statement of Dr. R. Glenn Hubbard, Chairman, Council of Economic Advisers; accompanied by Dr. Randall S. Kroszner, Member CEA; Prepared Statement of Representative Jim Saxton, Chairman (iii) |