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CBO
TESTIMONY
 
Statement of
Alice M. Rivlin
Director
Congressional Budget Office
 
before the
Committee on the Budget
United States Senate
 
March 2, 1977
 

Mr. Chairman and Members of the Committee:

During the first two years of the new Congressional budget process, Congress has left its firm imprint on the overall budgets for 1976 and 1977.

In my statement this morning I would like to cover four topics which you will be considering as you determine an initial set of targets for the 1978 budget. The first is the current economic situation and prospects for the remainder of this year and 1978. The second is the economic impact of the 1978 budget submitted by President Carter last week. The third topic is reconciling the goals of a low unemployment rate, a low inflation rate, and a balanced budget in the long run. Finally, I will touch briefly on the budget as an instrument for allocating public resources.

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