THE PRESIDENT For sale by the Superintendent of Documents, U.S. Government Printing Office DIVISION CONTENTS STATEMENTS Gordon, Kermit, Director, Bureau of the Budget, accompanied by Elmer Staats, Deputy Director; Charles L. Schultze, Assistant Director; and Samuel M. Cohen, Deputy to the Assistant Director for Budget Review__` Dillon, Hon. Douglas, Secretary of the Treasury, accompanied by Paul A. Volcker, Under Secretary of the Treasury for Monetary Affairs------ Nathan, Robert R., of Robert R. Nathan Associates, Inc.. EXHIBITS AND OTHER ADDITIONAL INFORMATION Bowman, Raymond T., Assistant Director for Statistical Standards, Bureau of the Budget: "Principal Federal Statistical Programs in the 1965 Curtis, Representative Thomas B.: Questions submitted to the Council of Economic Advisers and the "The Dialog on Growth Continued,” the W. A. Hammond lecture at Miami University, Oxford, Ohio, April 29, 1963, by Dr. Raymond J. Saulnier, professor of economics, Barnard College, Columbia "Broadening the Scope of Prosperity," excerpt from the 1956 Eco- Memorandum, dated January 21, 1964, from Donald A. Webster, minority economist, to minority members of the Joint Economic Committee pertaining to the President's 1964 Economic Report--- Questions submitted to the Department of the Treasury and the "Selected Multipliers," table from an article entitled "Forecasting List of publications of the Joint Economic Committee pertaining to the subjects entitled "The Problem of Poverty in America," and "The Promise and Problems of Technological Change"-- Recommendations contained in "Automation and Technological Change," Senate Report 1308, 84th Congress – – Recommendations contained in "A Program for the Low-Income Population at Substandard Levels of Living," Senate Report 1311, "Swiss Proposal To Curb Inflation Bars Interest on Some Foreign Funds Construction of Some Buildings Would Be Banned for 1 Year; Other Investment Rules Slated," article from the Wall Street "Swiss Map Curbs To Bar Inflation-Planning Controls on Banks, Reuss, Representative Henry S.: Letter, dated December 26, 1963, from Jesse W. Trapp, Chairman of the Board of Directors, Bank of America, to Senator Douglas, containing a statement entitled "The Gold-Reserve Schultze, Charles L., Assistant Director, Bureau of the Budget: "Three Measures of Federal Financial Transactions" (special analysis A), an ex- cerpt from the 1965 Budget of the U.S. Government._. Trapp, Jesse W., Chairman of the Board, Bank of America: Letter, dated December 26, 1963, to Senator Douglas, containing a statement entitled JANUARY 1964 ECONOMIC REPORT OF THE PRESIDENT THURSDAY, JANUARY 23, 1964 CONGRESS OF THE UNITED STATES, The joint committee met, pursuant to notice, at 10 a.m., in room 1114, New Senate Office Building, Hon. Paul H. Douglas (chairman) presiding. Present: Senators Douglas, Sparkman, Proxmire, Pell, Javits, Miller, and Jordan; and Representatives Reuss, Griffiths, Curtis, and Kilburn. Also present: James W. Knowles, executive director; Hamilton D. Gewehr, administrative clerk; and Donald A. Webster, minority economist. Chairman DOUGLAS. It is now 10 o'clock. The committee will come to order. We begin this morning the committee's consideration of the Economic Report of the President which was transmitted to the Congress on the 20th of January, by hearing from the Council of Economic Advisers, Walter W. Heller, Chairman, accompanied by Gardner Ackley and John P. Lewis, members of the Council. Members of the Joint Economic Committee who are always concerned with, and by law must consider the Economic Report, are particularly interested in the report this year since it contains two chapters which emphasize matters that have long been of interest to the Joint Economic Committee. One of these relates to the chapter entitled "The Problem of Poverty in America," and, second, the chapter entitled "The Promise and Problems of Technological Change." In order that the committee may have before it a reminder of its previous deliberations and reports, I want to include in the record at this point a list of the relevant past committee publications on these two subjects. (The exhibits referred to follow :) LOW-INCOME FAMILIES The following studies, hearings, etc., have been conducted by the Joint Economic Committee: "Selected Government Programs Which Aid the Unemployed and Low-Income Families" (materials assembled by the staffs of the Subcommittee on Unem 1 |