Date of Original Version



Response or Comment

Abstract or Description

It is a great pleasure to appear again before this committee. The committee, has long advocated and worked for a more responsible budget position. The Chairman has co-sponsored an excellent proposal for tax reform that would strengthen the economy and raise standards of living permanently by encouraging saving and investment. The focus of that reform is long-term. I believe that is the proper focus and, as I will comment presently, if we are going to solve our major economic problems, we must focus on the long-term. Currently the economy enjoys robust growth with low inflation. Growth of employment is strong. Productivity has increased. The budget deficit has fallen.


Prepared for the Senate 'Budget Committee, January 26, 1995