THE FEDERAL BUDGET FOR 1972 HEARINGS 11.5. Congress. House, BEFORE THE Λ COMMITTEE ON APPROPRIATIONS. NINETY-SECOND CONGRESS FIRST SESSION 59-467 O Printed for the use of the Committee on Appropriations U.S. GOVERNMENT PRINTING OFFICE WASHINGTON: 1971 KF27 .A6 COMMITTEE ON APPROPRIATIONS GEORGE H. MAHON, Texas, Chairman JAMIE L. WHITTEN, Mississippi EDWARD P. BOLAND, Massachusetts GEORGE E. SHIPLEY, Illinois ROBERT N. GIAIMO, Connecticut EDWARD J. PATTEN, New Jersey DAVID PRYOR, Arkansas FRANK T. BOW, Ohio CHARLES R. JONAS, North Carolina WILLIAM E. MINSHALL, Ohio THE BUDGET FOR 1972 WEDNESDAY, FEBRUARY 24, 1971. WITNESSES DEPARTMENT OF THE TREASURY HON. JOHN B. CONNALLY, SECRETARY MURRAY L. WEIDENBAUM, ASSISTANT SECRETARY FOR ECONOMIC POLICY ERNEST C. BETTS, JR., ASSISTANT SECRETARY FOR ADMINISTRATION THOMAS F. LEAHEY, ASSISTANT DIRECTOR, OFFICE OF TAX EDWARD P. SNYDER, DIRECTOR OF DEBT ANALYSIS OFFICE OF MANAGEMENT AND BUDGET GEORGE P. SHULTZ, DIRECTOR CASPAR W. WEINBERGER,, ASSISTANT DIRECTOR JAMES R. SCHLESINGER, ASSISTANT DIRECTOR RICHARD P. NATHAN, ASSISTANT DIRECTOR DONOLD B. RICE, ASSISTANT DIRECTOR SAMUEL M. COHN, ASSISTANT DIRECTOR FOR BUDGET REVIEW ARTHUR B. LAFFER, ECONOMIST COUNCIL OF ECONOMIC ADVISERS PAUL W. MCCRACKEN, CHAIRMAN OPENING REMARKS OF THE CHAIRMAN Mr. MAHON. Will the committee come to order? The Committee on Appropriations has for a long time wanted to conduct some open hearings. We have finally concluded that we have enough support from the press to undertake such a hearing. The committee has been in existence for 105 years and we felt a little experimentation at this time would not be out of order. Thirteen years ago we had our first overall hearing on the budget before the Committee on Appropriations. We have had 10 such hearings since that time. One of the factors deterring us from holding open hearings in the past has been the small size of our committee rooms. This year, the Government Operations Committee graciously let us borrow this excellent large hearing room. Without objection, I would like to say to the committee that we will more or less have to discard the 5-minute rule because with 55 members of the committee, it would be rather impractical to manage. I would say, however, that we expect to adjourn this hearing around 4 o'clock and resume tomorrow about 10 o'clock. (1) |