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ALTERNATE EMPLOYMENT TRENDS,1960-65, AT HIGH & LOW OVERALL GROWTH RATES

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DIFFERENCES IN RESULTS OF HIGH AND

LOW ECONOMIC GROWTH RATES, 1962-1965

Bold Face - Difference in 1965: Italics - Difference for four year period as a whole

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PROFESSIONAL
INCOME

DOMESTIC

21

RESIDENTIAL
NONFARM
CONSTRUCTION

$79 Billion $229 Billion

TRANSFER
PAYMENTS

$II Billion $30 Billion

FEDERAL, STATE, AND
LOCAL GOV'T OUTLAYS

INVESTMENT

$5.3 Billion
$13 Billion

$25 Billion
$68 Billion

FOR GOODS AND

SERVICES

BUDGET

$10.5 Billion
$31 Billion

$15 Billion

$42 Billion

High growth rate would draw more persons into the labor market than low growth rate.

2 Including net exports of goods and services.

GOALS FOR 1962 AND 1963, CONSISTENT WITH LONG-RANGE GOALS THROUGH 1965

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TOWARD A FEDERAL BUDGET GEARED TO FULL ECONOMIC GROWTH AND THE GREAT PRIORITIES OF NATIONAL PUBLIC NEEDS

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BURDEN OF FEDERAL OUTLAYS IN A FULLY GROWING ECONOMY WOULD BE

LOWER THAN IN RECENT YEARS

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NATIONAL DEBT AS PERCENT OF
TOTAL NATIONAL PRODUCTION (GNP)

TOTAL FEDERAL OUTLAYS AS PERCENT OF
TOTAL NATIONAL PRODUCTION (GNP)
(1963, Fiscal; All Other Years,

Calendar Years)

(1963, Fiscal; All Other Years, 63.9%

Calendar Years)

56.1%

(CONVENTIONAL BUDGET)

48.6%

43.8%

16.7%

16.2% 15.7% 16.2%

1965 Goal

1953-1961 1961 1963 1965

1953-1961 1961 1963 Av. Annual Actual Goal Goal

Av. Annual Actual Goal
Actual

Actual
Based upon Budget estimates os of January 18, 1962.
2

including poy ond contingency adjustments and less interfund transactions.

WHAT WE CAN AFFORD AND NEED TO DO THROUGH THE FEDERAL BUDGET

1962 and 1963, Fiscal Years; 1965, Calendar Year

Per Capita Outlays in 1960 Dollars

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1963 Goal 15.73 492.22 1963 Goal 9.78 306.15 11963 Goal 0.30
1965 Goal 16.20 554.71 11965 Goal 9.91 339.4411965 Goal 0.67 22.90

+

% of Total Per Output Capita

0.22 6.41

9.28 1963 Goal 0.30 9.28 1965 Goal 0.49 16.79

PUBLIC
ASSISTANCE

LABOR AND
MANPOWER, AND
OTHER WELFARE
SERVICES

HOUSING
AND COMMUNITY
| DEVELOPMENT

ALL DOMESTIC PROGRAMS AND SERVICES

THE BUDGET

OF THE

UNITED STATES
GOVERNMENT

(Includes also
Agriculture;
Natural Resources;
Veterans; Commerce;
Interest; General
Government, etc.)

Year

1962

% of Total Per
Output Capita | Year

0.47

1963 Goal 0.49

% of Total Per
Output Capita Year
0.17

13.59 1962
15.46 1963 Goal 0.16
17.81 1965 Goal 0.18

1965 Goal 0.52

Budget estimate as of January 18, 1962

% of Total Per

% of Total Per Output Capita

6.18 177.80

Output Capita | Year
2.88 | 1962
5.67 1963 Goal 5.95 186.07
11.70 1965 Goal 6.29 215.27

4.861 1962 0.10
5.151963 Goal 0.18
6.10 1965 Goal 0.34

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