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094450 1 (1970-09-17)

handle is hein.gao/gaobadxlc0001 and id is 1 raw text is: UNITED STATES GENERAL ACCOUNTING OFFICE Washington, D. C. 20548 STATEMENT OF ELMER B. STAATS, COMPTROLLER GENERAL OF THE UNITED STATES BEFORE THE SUBCOMMITTEE ON INTERNATIONAL FINANCE COMMITTEE ON BANKING AND CURRENCY UNITED STATES SENATE ON L S. 4268J WHICH WOULD REMOVE LENDING OPERATIONS OF THE EXPORT-IMPORT BANK FROM THE EXPENDITURE LIMITATION ACT SEPTEMBER 17, 1970 Mr. Chairman and Members of the Subcommittee: We appreciate the opportunity to appear before your subcommittee to give you our views and answer your questions on S. 4268. The purposes of this bill are to exclude the receipts and disbursements of the Export- 172 Import Bank from the totals of the budget of the United States Government and exempt them from any annual expenditure and net lending limitations imposed on the budget. The General Accounting Office has over many years favored the principle of full disclosure to the Congress and review by the Congress of the budgetary program submitted by the executive branch. As you may know, as Comptroller General, I was a member of the Commission on Budget Concepts. The members of this Commission were appointed by President Johnson and, incidentally, included the Chairmen 2 and the Ranking Minority members of both the House and Senate Appropriations Committees. The Commission was chaired by D dKened, who is presently Secretary of the Treasury; and the staff director was Robert Mayo who recently served as director of the Bureau of the Budget. 399L70

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