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Statement by Dr. Alice M. Rivlin, Director, Congressional Budget Office before the Joint Economic Committee 1 (December 1975)

handle is hein.congrec/cbo8362 and id is 1 raw text is: Statement by Dr. Mlice M. Rivlin Director, Congressional Budget Office before the Joint Economic Committee December 3, 1975 Mr. Chairman and Members of the Comittee, I appreciate having this opportunity to discuss with you the current services budget estimates for fiscal 1977 that were submitted to the Congress recently by the President. I believe it would be most useful this morning if I spent some time on the purpose and uses of cur-rent services budget estimates, the problems in- volved in making these estimates, and our assessment of the fiscal 1977 estimates that were prepared by the Office of Management and Budget. The purpose and uses of current services bu~get estimates The primary purpose of current services estimates is to provide a baseline or basic reference point for consideration of discretionary changes in the budget. The baseline that most often has been used is last year's budget level. Thus, a common question in any budget hearing, whether con- ducted in the Executive Branch or in the Congress, is What did you get last year? While this is an important consideration, it is not always the most relevant question for a number of reasons. First,, economic conditions change significantly from year to year. The level of unemployment may be expected to increase or decrease. Similarly, the rate of inflation may be expected to accelerate or decline.

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