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Statement by Dr. Alice M. Rivlin Director, Congressional Budget Office before the Subcommittee on Intergovernmental Relations of the Senate Government Operations Committee 1 (April 1976)

handle is hein.congrec/cbo8171 and id is 1 raw text is: Statement by Dr. Alice M. Rivlin Director, Congressional Budget Office before the Subcommittee on Intergovernmental Relations of the Senate Government Operations Committee April 7, 1976 Mr. Chairman and members of the committee, I appreciate the opportunity to discuss with you some of the general issues that are raised by S. 2925, the Government Economy and Spending Reform Act. The basic purpose of this legislation is to build, extend and strengthen the decision making processes that were initiated by the Congressional Budget and Impoundment Control Act of 1974. Although it has been in operation less than two years, the Budget Act has had a significant impact; the Congress is now making explicit and informed decisions on the federal budget as a whole. For the first time the Congress is determining explicitly the appropriate levels of total federal spending and revenues. The new budget process has also made the degree of stimulus or rest-raint that the federal budget exerts on the nation's economy a subject of congressional debate and decision. Finally, the new budget process, with its emphasis on

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