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Statement by Alice M. Rivlin, Director, Congressional Budget Office, Senate Budget Committee 1 (September 1975)

handle is hein.congrec/cbo8363 and id is 1 raw text is: STATEMENT by Alice M. Rivlin, Director, Congres- sional Budget Office Senate Budget Committee September 23, 1975 Last week the Congressional Budget Office issued its second report on the economy, entitled Recovery: How Fast and How Far? In my testimony this morning I'd like to summarize our findings in that report, and then discuss the relation of those findings to the Federal budget and the targets of the First Concurrent Resolution on the budget. The Economic Outlook The U. S. economy is beginning to recover from its longest and worst recession since the 1930s, but it is not at all clear that the recovery will be sustained enough to carry the economy up the long road to full employment. As of mid- September, these points about the recovery warrant particular emphasis: o The economic signs point to rapid growth in production in the fall and winter. o Renewed inflation, spurred by food and fuel prices, is likely to accompany the recovery.

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