Concurrent Resolution on the Budget for Fiscal Year 2002: Hearings Before the Committee on the Budget, United States Senate, One Hundred Seventh Congress, First SessionU.S. Government Printing Office, 2002 |
Other editions - View all
Common terms and phrases
Alan Greenspan ANDERSON baseline believe billion budget surpluses capital gains capital gains tax CBO's Chairman DOMENICI Chairman GREENSPAN challenges changes chart committee Congress Congressional Budget Office cost debt held debt reduction decade deficit demographic discretionary spending dollars economic growth energy estimates fiscal policy forecast future going gross domestic product impact income inflation interest rates investment issue KREPINEVICH long-term look Medicare ment military monetary policy natural gas nomic on-budget outlook percent of GDP population President private assets problem productivity growth programs projected surpluses question recession reduce retirement revenues risk sector Security and Medicare Security surplus Senator ALLARD Senator BYRD Senator CLINTON Senator CONRAD Senator GRAMM Senator NELSON Senator SARBANES Senator SNOWE Social Security talking tax cut tax rates testimony Thank things tion trillion Trust Fund WALKER WATTENBERG
Popular passages
Page 382 - I appreciate the invitation to testify today. I am Robert Greenstein, executive director of the Center on Budget and Policy Priorities. The Center is a nonprofit...
Page 223 - Conceivably, it could include provisions that in some way would limit surplusreducing actions if specified targets for the budget surplus and Federal debt were not satisfied.
Page 450 - Saturation ballistic missile attacks against littoral forces, ports, airfields, storage facilities, and staging areas could make it extremely costly to project US forces into a disputed theater, much less carry out operations to defeat a well-armed aggressor. Simply the threat of such enemy missile attacks might deter US and coalition partners from responding to aggression in the first instance [emphasis added].
Page 265 - Social Security, Medicare, and Medicaid programs is to envision a very different role for the federal government. Assuming, for example, that the Congress and the President adhere to the often-stated goal of saving the Social Security surpluses, our long-term model shows a world by 2030 in which Social Security, Medicare, and Medicaid increasingly absorb available revenues within the federal budget. Under this scenario, these programs would absorb more than three-quarters of total federal revenue.
Page 197 - Budget Office; Department of Commerce, Bureau of Economic Analysis; Department of Labor, Bureau of Labor Statistics; Federal Reserve Board.
Page 60 - Some holders of long-term Treasury securities may be reluctant to give them up, especially those who highly value the risk-free status of those issues. Inducing such holders, including foreign holders, to willingly offer to sell their securities prior to maturity could require paying premiums that far exceed any realistic value of retiring the debt before maturity.
Page 61 - I have testified previously, if long-term fiscal stability is the criterion, it is far better, in my judgment, that the surpluses be lowered by tax reductions than by spending increases.
Page 382 - STATEMENT OF ROBERT GREENSTEIN, EXECUTIVE DIRECTOR, CENTER ON BUDGET AND POLICY PRIORITIES, WASHINGTON, DC Mr.
Page 268 - Economic growth can help, but we will not be able to simply grow our way out of the problem. Closing the current long-term fiscal gap would require sustained economic growth at levels so high as to be implausible.
Page 264 - The Deficit and the Economy: An Update of Long-Term Simulations" (GAO-AIMD/OCE-95119, April 26, 1995).