I am pleased to submit to the Legislative Branch Before presenting my estimate of the Committee's budget requirements for the coming fiscal year, let me briefly review the work of the Committee in the second session of the 102nd Congress. The Committee had an active year in 1991, holding a total of 58 hearings and issuing six reports along with a regular newsletter on the state of the economy. (See attached lists of hearings and publications.) Although the Committee does not write legislation, a number The Committee's reports for 1992 were timely and wellreceived. The economic trends over the past year have been erratic. During this period, the Committee has emphasized communication with Congress to clarify the actual economic performance of our Nation. The Committee has held several hearings on the state of the economy and has distributed a regular newsletter to Members that describes the state of the economy according to the best available economic indicators. Honorable Vic Fazio Chairman Legislative Branch Appropriations Page 2 The Committee has for many years made available studies on the economic developments of the Soviet Union, Eastern Europe, and China. This year the Committee found great interest in the studies on the economic policy and trends in Russia, the new governments of Eastern Europe, and situation in China. The Committee also issued two widely noted reports on major income related trends. The first study, comparing the rise in income with the rise in hours worked for married couples with children, provided empirical analysis on an issue that had depended previously on anecdotal information. The second study, charting the trends in men's incomes at comparable stages of their careers for the last four decades, also contributed to the on-going national debate on economic trends. Against this background, the Committee is requesting 51 staff positions, the same number that the Committee has had since Fiscal Year 1989. The Committee is requesting $4,300,00 which represents an increase of $280,000. This request is entirely accounted for by the anticipated cost-of-living adjustments and increased agency contributions, over which the Committee has no control. Over the next year, the Congress will be involved in making important legislative decisions regarding the economy and the economic performance of our Nation. This debate will not be a simple one, and the need for thoughtful economic analysis has never been greater. The Committee has provided such analysis for over 45 years. In these difficult times, I believe it is important for the Committee to continue to provide a forum for analysis and debate on important economic issues. I appreciate your attention to the Joint Economic Committee's request. Sincerely, Laul S. Sarbanes Paul S. Sarbanes Chairman May 22 May 28 June 5 June 11 June 12 June 18 July 2 June Employment Situation July 8 July 22 July 28 August 7 July Employment Situation August 12 Intersection of Agricultural and Environmental Interests April Employment Situation Foreign Direct Investment Developing the Nation's Telecommunications Infrastructure Roundtable Conversations on the State of the Economy and Economic Policy May Employment Situation Improving Long-Term Decision-Making in Government: Alternative Approaches to Budgeting Developing the Nation's Telecommunications Infrastructure Economic Diplomacy with Japan Agricultural Industrialization and Family Farms Japan and the Asia-Pacific Region Roundtable Conversations on the State of the Economy and Economic Policy Roundtable Conversations on the State of the Economy and Economic Policy September 3 American Incomes and Poverty at Labor Day 1992 September 4 August Employment Situation |