THE 1969 ECONOMIC REPORT
OF THE PRESIDENT

HEARINGS

BEFORE THE

JOINT ECONOMIC COMMITTEE
CONGRESS OF THE UNITED STATES

NINETY-FIRST CONGRESS

For sale by the Superintendent of Documents, U.S. Government Printing Office
Washington, D.C. 20402 - Price $1.25

STANFORD LAW LIBRARY

JOINT ECONOMIC COMMITTEE

[Created pursuant to sec. 5(a) of Public Law 304, 79th Cong.]

Patman, Hon. Wright, Chairman of the Joint Economic Committee: Page
Opening remarks_

Javits, Hon. Jacob K., ranking minority member of the Joint Economic
Committee: Opening statement. -

Barr, Hon. Joseph W., Secretary of the Treasury.

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24586

Okun, Hon. Arthur M., Chairman of the Council of Economic Advisers__
Zwick, Hon. Charles J., Director of the Bureau of the Budget....

95

98

ADDITIONAL INFORMATION AND EXHIBITS

Barr, Hon. Joseph W.:

Staff study: "Comparison of Budget Outlays and Tax Expenditures

by Function-Fiscal Year 1970".

Supplementary statement: "Tax Expenditures-Government Ex-

penditures Made Through the Income Tax System".

Table 1. National Defense, Tax Expenditures, 1968-

Table 2. International Affairs and Finance, Tax Expenditures,

1968_.

Table 3. Agriculture and Agricultural Resources, Tax Expendi-

tures, 1968.

Table 4. Natural Resources, Tax Expenditures, 1968-

Table 5. Commerce and Transportation, Tax Expenditures, 1968-

Table 6. Community Development and Housing, Tax Expendi-

tures, 1968.

Table 7. Health and Welfare, Tax Expenditures, 1968-

Table 8. Education and Manpower, Tax Expenditures..

Table 9. Veterans Benefits and Services, Tax Expenditures, 1968-

Table 10. Aid to State and Local Government Financing, Tax

Expenditures, 1968.

Prepared statement.

Charts and text: "The Fiscal Program for 1970 in Perspective".

Response to Chairman Patman query re high interest rates..

112

Response to request from Chairman Patman for comment re Urban

Development Bank..

Response to Chairman Patman query re "realistic budget".

Reply to Chairman Patman's query re increase in 1970 tax receipts.__

Council of Economic Advisers:

Response to Chairman Patman's query re high interest rates..

Response to Chairman Patman's query re "realistic budget".

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137

Reply to Chairman Patman's query re increase in 1970 tax receipts.--

Javits, Hon. Jacob K.:

139

Editorial: "Unbalanced Budget Priorities," New York Times.

214

Patman, Hon. Wright:

Zwick, Hon. Charles J.:

Treasury Department publication: "Maintaining the Strength of the

U.S. Dollar in a Strong Free World Economy"

223

Charts: "1970 Budget Charts".

99

Prepared statement...

109

Response to Chairman Patman's query re "realistic budget"..

Response to Chairman Patman's query re high interest rates.

Material submitted in response to questioning by Representative
Rumsfeld re functional classification of budget...

Letter sent to New York Times replying to editorial "Unbalanced

Budget Priorities”.

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138

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