Accession Number:

ADA533311

Title:

The Budget of the United States Government. Department of Defense Extract for Fiscal Years 1988 and 1989

Descriptive Note:

Corporate Author:

DEPARTMENT OF DEFENSE WASHINGTON DC

Personal Author(s):

Report Date:

1989-01-01

Pagination or Media Count:

356.0

Abstract:

The current economic expansion, now in its 50th month, is already one of the longest of the postwar era and shows promise of continuing to record length. This has not been due simply to chance--it is the result of successful policies adopted during the past 6 years. Disposable personal income is at an all-time high and is still rising total production and living standards are both increasing employment gains have been excellent. Inflation, which raged at double-digit rates in 1980, has been reduced dramatically. Defense capabilities, which had been dangerously weakened during the 1970s, have been substantially rebuilt, restoring a more adequate level of national security. An insupportable growth in tax burdens and Federal regulations has been halted, an intolerably complex and inequitable income tax structure has been radically reformed, and the largest management improvement program ever attempted is in full swing in all major Federal agencies. It has been a good 6 years. Now in its 5th year, the current expansion already has exceeded 5 of the 7 previous postwar expansions in duration, and leading economic indicators point to continued growth ahead. Our policies have worked.

Subject Categories:

  • Economics and Cost Analysis
  • Government and Political Science

Distribution Statement:

APPROVED FOR PUBLIC RELEASE