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Letter to the Honorable Tom Daschle [i] (January 2002)

handle is hein.congrec/cbo8488 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE U.S. CONGRESS Dan L. Crippen WASHINGTON, DC 20515 Director January 30, 2002 The Honorable Tom Dasehie Majority Leader United States Senate Washington, DC 205 10 Dear Mr. Leader: Under section 254(j) of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 904(j)), the Congressional Budget Office must notify the Congress in the event of an economic slowdown. The section reads in part: (j) Low-growth report: At any time, CBO shall notify the Congress if- (2) the most recent of the Department of Commerce's advance preliminary or final report of actual real economic growth indicates that the rate of real economic growth for each of the most recently reported quarter and the immediate preceding quarter is less than one percent. This letter serves to notify the Congress that on January 30, 2002, the Department of Commerce's advance report on the growth of real gross national product during the fourth calendar quarter of 2001 indicated that growth was less than 1.0 percent during that quarter and the preceding quarter. Sncerely, Dan L. Crippen

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