LESLIE J. BANDER GEORGE D. KRUMBHAAB, Jr. (Counsel) WALTER B, LAESSIG (Counsel)

CONTENTS

WITNESSES AND STATEMENTS

WEDNESDAY, APRIL 25, 1973

Proxmire, Hon. William, chairman of the Subcommittee on Priorities and
Economy in Government: Opening statement.

Okun, Arthur M., senior fellow, the Brookings Institution_

Weidenbaum, Murray L., Mallinckrodt distinguished university pro-

fessor, Washington University, St. Louis.-

Linowitz, Sol M., chairman, National Urban Coalition, accompanied by

Carl Holman, president, National Urban Coalition; Lisle Carter, former

Assistant Secretary of HEW, and professor of public policy, Graduate

School of Business and Public Administration, Cornell University; and

Vick French, consultant, National Urban Coalition.........

THURSDAY, APRIL 26, 1973

Proxmire, Hon. William, chairman of the Subcommittee on Priorities and
Economy in Government: Opening statement--.

Byrnes, John W., attorney-partner, Foley & Lardner Law Firm, Wash-
ington, D.C.

oler, Henry H., partner, Goldman, Sachs & Co., New York City..

FRIDAY, APRIL 27, 1973

Page

1

3

47

65

66

71

Pormire, Hon. William, chairman of the Subcommittee on Priorities and

Economy in Government:

Opening statement

107

Capron, William M., associate dean, John Fitzgerald Kennedy School of

Government, Harvard University-

109

is, Wilfred, director, National Planning Association.......

117

121

sthan, Richard P., senior fellow, the Brookings Institution__.

Packer, Arnold H., senior economist, Committee for Economic Develop-

ment.

SUBMISSIONS FOR THE RECORD

eidenbaum, Murray L.:

Prepared statement..

WEDNESDAY, APRIL 25, 1973

Table showing obligated and unobligated balances of budget au-

thority (in millions of dollars) at the start of 1972, end of 1972, end

of 1973, and end of 1974..

Response to Chairman Proxmire's request to supply for the record an

analysis of the administration's estimated reductions and term-

inations of Federal Government spending as listed in the Federal

Budget for the fiscal year 1974_

"Urban Decay in St. Louis," article from Washington University

magazine, St. Louis, Mo., summer 1972__

Response to Chairman Proxmire's query regarding the source of the

statistics appearing in an advertisement placed by the Citizens

Committee for Control of Federal Spending in the Washington,

Post, April 3, 1973..

(III)

THURSDAY, APRIL 26, 1973-Continued

Fowler, Henry H.:
Prepared statement_

Attachment A: Excerpt from 1969 paper delivered by Henry H.
Fowler at Moskowitz Lectures, sponsored by New York
University, entitled "Fiscal Policy and Inflation".

Proxmire, Hon. William:

Page

77

Prepared statement of Melvin R. Laird, former Secretary of Defense__ 85
FRIDAY, APRIL 27, 1973

Capron, William M.:

Prepared statement_

Nathan, Richard P.:

Prepared statement_

Packer, Arnold H.:
Prepared statement..