 | United States. Congress. House. Ways and Means Committee - 1973 - 120 pages
...problem in the last vear as we look back i Secretary Sirri/rz. Well, we have had many. We, of course1, had a tremendous surge in real output of the economy...hindsight. With foresight, you will remember that we had quite a battle going on about . holding spending down. There was quite a battle in the Congress... | |
 | United States. Congress. Economic Joint Committee - 1973 - 106 pages
...troublesome acceleration of inflation flows from several sources. The economy advanced too rapidly in the fourth quarter of 1972 and the first quarter of 1973, spurred by consumer enthusiasm that responded to the better employment and inflation news of Phase... | |
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We, of course. had a tremendous surge in real output of the economy in the fourth quarter of 1972 and the first quarter of 1973, a surge that exceeded the expectations, I think, of the vast majority of people who were observing this process. 