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Considers H.R. 5135 and H.R. 5197, to amend Employment Act of 1946 to distinguish in Federal budget between operating expenditures of public debt and capital investments, such as home mortgage loans. Recommends that the President establish a concerted program for making capital investments during next 6 years.
Distributed to some depository libraries in microfiche.
Discusses the balanced budget amendment with testimony reflecting the viewpoints of private citizens, as well as prepared statements, letters, and supplemental materials from members of Congress, and professionals in the field of economics (James C. Miller, III, Citizens for a Sound Economy; Richard K. Vedder, Prof. of Economics, Ohio Univ.; Charles Schultze, Brookings Institute; Annelise Anderson, Hoover Institute; Allen Schick, Univ. of MD). Includes discussion of the economics of constitutional budget restraints, the impact of the welfare state on the American economy, and taxes and deficits. Charts and tables.