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122597 1 (1983-10-04)

handle is hein.gao/gaobactdz0001 and id is 1 raw text is: 




             UNITED STATES GENERAL ACCOUNTING  OFFICE
                     WASHINGTON, D.C.   20548

                                      FOR RELEASE ON
                                      OCTOBER 4, 1983


                     STATEMENT FOR THE RECORD

                         JOHN W. SPRAGUE
                         ASSOCIATE DIRECTOR
     RESOURCES, COMMUNITY, AND ECONOMIC DEVELOPMENT  DIVISION

                             FOR THE
              SUBCOMMITTEE ON ECONOMIC STABILIZATION
      HOUSE COMMITTEE ON BANKING, FINANCE AND  URBAN AFFAIRS

                  ON AN INSTITUTIONAL MECHANISM
                  FOR  DEVELOPING STEEL POLICY

Mr. Chairman and Members of the Subcommittee:

     In recent months your subcommittee has been  concerned with,
and has held hearings on, the general matter of U.S.  industrial
policy formulation.  On September 20,  1983, the Comptroller
General testified before this subcommittee on  the federal
government's experience with financial rescues.  He  emphasized
that, because we have no contemporary experience with  a
coordinated federal assistance policy,  it is very difficult to
predict how well an industrial policy might ultimately  work.


     This statement, which is provided  in response to your
July 21, 1983, request contains our views on  the need for an
institutional mechanism to coordinate federal programs  aimed
at a steel policy, as well as the need to establish  specific,
quantifiable objectives and measures to evaluate  the
effectiveness of any steel policies initiated.




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