The Planning-programing-budgeting System: Progress and Potentials. Hearings, Ninetieth Congress, First Session

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Página 50 - Some reassurance on the need for such a program is given in the testimony earlier in 1968 before the Subcommittee on Housing and Urban Affairs of the Senate Committee on Banking and Currency by Secretary Robert C.
Página 1 - Once in operation, it will enable us to: (1) Identify our national goals with precision and on a continuing basis (2) Choose among those goals the ones that are most urgent (3) Search for alternative means of reaching those goals most effectively at the least cost (4) Inform ourselves not merely on next year's costs, but on the second, and third, and subsequent year's costs of our programs (5) Measure the performance of our programs to insure a dollar's worth, of service for each dollar spent.
Página 48 - ... the realization as soon as feasible of the goal of a decent home and a suitable living environment for every American family...
Página 48 - The policy to be followed in attaining the national housing objective hereby established shall be: (1) private enterprise shall be encouraged to serve as large a part of the total need...
Página 157 - A little thought shows that the grounds for such a program are highly tenuous at best. Our economy is characterized by a long run rate of growth of GNP of the order of 3 to 4 percent per year, compounded, and in recent years the growth rate has been even greater. Per capita income has risen persistently throughout our history and there is every reason to expect the rise to continue. We are therefore wealthier than our predecessors and it can quite safely be predicted that our successors will be richer...
Página 237 - The interest rate to be used in plan formulation and evaluation for discounting future benefits and computing costs, or otherwise converting benefits and costs to a common time basis shall be based upon the average rate of interest payable by the Treasury on interest-bearing marketable securities of the United States outstanding at the end of the fiscal year preceding such computation which, upon original issue, had terms to maturity of 15 years or more.
Página 152 - At stake in the choice of an acceptable discount rate is no less than the allocation of resources between the private and the public sectors of the economy. The discount rate, by indicating what government projects should be undertaken, can determine the proportion of the economy's activity that is operated by governmental agencies, and hence, the proportion that remains in the hands of private enterprise.
Página 48 - ... as a means of retarding or stopping a decline in mortgage lending and home building activities which threatens materially the stability of a high level national economy...
Página 326 - The agency request (through the Budget Bureau) for a certain year is a fixed mean percentage of the Congressional appropriation for that agency in the previous year plus a random variable (normally distributed with mean zero and unknown but finite variance) for that year.
Página 153 - ... percent, then the resources should be transferred to the public project if that project yields a return greater than r percent. They should be left in private hands if their potential earnings in the proposed government investment is less than r percent. The logic of this criterion is self-evident. It states no more than the minimal dictate of efficiency: Never take resources out of a use where they bring in (say) 9 percent in order to utilize them in a manner which yields only 6 percent! The...

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