CBO
TESTIMONY
Statement to be Included in the Record by
Alice M. Rivlin, Director
Congressional Budget Office
for the
Committee on the Budget
United States Senate
April 26, 1977
Mr. Chairman and Members of the Committee:
At the Committee's request, I am happy to share some brief observations
on the economic outlook. I will address myself to three questions:
-
Has the economic news through early April provided reasons for altering
the economic forecast that I presented to this committee on March 2, or
the forecast contained in the Committee's report on the Third Concurrent
Resolution for Fiscal Year 1977?
-
How will the outlook be affected by withdrawal of the $50 rebate assumed
in the Third Concurrent Resolution for Fiscal Year 1977?
-
What is the effect of the shortfall in federal expenditures on the economic
outlook?
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