Economic Report of the President 1994 - The American Presidency ...

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19481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991YearTABLE B-97.—Farm output and productivity indexes, 1948-91Total»48474749515151545452555859606263636665696971717676797580828686928798100829810410010295105112110Livestockandproducts2 3 545760636465687071707276757879818382838686869091929392879193939399101100102100103103105108110112114[1982 = 100]Total 4 46403939424239434240444648475051495652575761586564706576758281917896100679510495978399111106FarmoutputFeedcropsCrops 23317222022222830283736344437384234524460545749776771537875899195641021003110812511910163117114114Foodgrains403432324236343435304638464240404746485457545058576366797774677986102100849387777770779915141715151416192221272425293031323640434850535256675467587886104808910075879688887187879276Oil cropsProductivityindicators 5Farmperoutputunitof totalfactorinput5251505153535454555459596063656767717174757777818386788484908588829510086100110109114109120126124Farmoutputperunit offarmlabor1 Farm output measures the annual volume of net farm production available for eventual human use through sales from farms orconsumption in farm households.2 Gross production.3 Horses and mules excluded.4 Includes items not included in groups shown.8 See Table B-98 for farm inputs.Source: Department of Agriculture.1919202123232426272932333637384143475055555860646568667074808086819310086101117115121111127128125380
TABLE B-98.—Farm input use, selected inputs, 1948-92YearFarm population,April xNumber(thousands)Aspercentof totalpopulation2TotalFarm employment(thousands) 3FamilyworkersHiredworkersCropsharvested(millionsofacres) 4TotalFarmlaborSelected indexesof input use (1982 = 100)FarmrealestateDurableequipmentEnergyAgriculturalchemicals5Feed,seed,andlivestockpurchases6Otherpurchasedinputs1948..1949..1950..1951..1952..1953..1954..1955..1956..1957..1958..1959..1960...1961...1962...1963...1964...1965...1966...1967...1968...1969...1970...1971...1972..1973..1974..1975..1976..1977...1978..1979..1980..1981..1982..1983..1984..1985..1986..1987..1988..1989..1990..1991..1992..24,38324,19423,04821,89021,74819,87419,01919,07818,71217,65617,12816,59215,63514,80314,31313,36712,95412,36311,59510,87510,45410,3079,7129,4259,6109,4729,2648,2537 6,1947 6,5017 6,2417 6,0517 5,8507 5,6287 5,7875,7545,3555,2264,9864,9514,8014,5914,63216.616.215.214.213.912.511.711.511.110.39.89.38.78.17.77.16.76.45.95.55.25.14.74.54.64.54.34.13.87 2.87 2.97 2.87 2.77 2.57 2.47 2.52.42.22.22.12.12.01.91.910,3639,96419,9269,546 j9,149!8,8648,65118,3817,8527,6007,5037,3427,0576,9196,7006,5186,1105,6105,2144,9034,7494,5964,5234,4364,3734,3374,3894,3314,3634,1433,9373,7653,6998 3,5828 3,4668 3,3498 3,2333,1162,9122,8972,9542,8632,8912,8752,8108,0267,7127,5977,3107,0056,7756,5706,3455,9005,6605,5215,3905,1725,0294,8734,7384,5064,1283,8543,6503,5353,4193,3483,2753,2283,1693,0753,0212,9922,8522,6802,4952,4018 2,3248 2,2488 2,1718 2,0952,0181,8731,8461,9671,9352,0001,9641,9442,3372,2522,3292,2362,1442,0892,0812,0361,9521,9401,9821,9521,8851,8901,8271,7801,6041,4821,3601,2531,2131,1761,1751,1611,1461,1681,3141,3101,3711,2911,2561,2701,2988 1,2588 1,2188 1,17881,1381,0981,0391,0511,037928892911356360345344349348346340324324324324324302295298298298294306300290293305294321328336337345338348352366362306348342325302297318322318320939796949493939293929393939192979697961011041061031009698959289878789251-241237228222220216211197183176173163161159153145141128124125123119118117117115114111107107107108105100959789878486828738455290 5892 6395 6696 6998 7099 7199 6999 6899 6899 6997 6895 6796 6795 6795 6994 7197 7395 7694 7894 7896 7994 7998 8199 8598 8999 9199 9498 9699 99101 102101 102100 10092 95918680747066646334364342434243455049495682 5884 6185 5586 6188 6889 7390 8390 8090 6892 7392 7690 8089 8590 9486 99101 91113 100119 98125 108113 118110 131106 122100 10097 93100 10690 10184 11193 10093 9091 9390 9089 948477919710298100991011061051019899105104747778808382818381858199999810010097969697979390878591979499100118127116111100107108998992909697100J Farm population as defined by Department of Agriculture and Department of Commerce, i.e., civilian population living on farms inrural areas, regardless of occupation. See also footnote 7. Series discontinued in 1992.2 Total population of United States including Armed Forces overseas, as of July 1.3 Includes persons doing farmwork on all farms. These data, published by the Department of Agriculture, differ from those onagricultural employment by the Department of Labor (see Table B-33) because of differences in the method of approach, in concepts ofemployment, and in time of month for which the data are collected.4 Acreage harvested plus acreages in fruits, tree nuts, and farm gardens.5 Fertilizer, lime, and pesticides.6 Nonfarm constant dollar value of feed, seed, and livestock purchases.7 Based on new definition of a farm. Under old definition of a farm, farm population (in thousands and as percent of totalpopulation) for 1977, 1978, 1979, 1980, 1981, 1982, and 1983 is 7,806 and 3.6; 8,005 and 3.6; 7,553 and 3.4; 7,241 and 3.2; 7,014and 3.1; 6,880 and 3.0; 7,029 and 3.0, respectively.8 Basis for farm employment series was discontinued for 1981 through 1984. Employment is estimated for these years.Note.—Population includes Alaska and Hawaii beginning 1960.Sources-. Department of Agriculture and Department of Commerce (Bureau of the Census).381
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S : Sf:' ;: W^W't-^WW': ;, S 4 Si :
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unitedminds
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Economic Report of the PresidentTo
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the Technology Reinvestment Project
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formed health care system, increase
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CONTENTSPageCHAPTER 1. A STRATEGY F
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PageProviding Comprehensive Benefit
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LIST OF CHARTS—CONTINUEDPage3-5 L
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CHAPTER 1A Strategy for Growth and
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which have left consumers and busin
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that growth in both real compensati
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for inflation was on average roughl
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Box 1-2.—Saving, Investment, and
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investments in human capital; inves
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of the income distribution (Table 1
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Box 1-3.—Credible Deficit Reducti
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Chart 1-7 Correlation of Investment
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Box 1~4*~-A Balanced Budget Amendme
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This educational record is not good
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fallen markedly since the 1960s (Ch
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The development and deployment of n
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Earlier rounds of GATT talks had fo
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Chart 1-10 Projected Real Growth Ra
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are therefore on the public dole. M
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prise communities and be granted sm
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ingredient that should allow the ec
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Chart 2-2 National Defense Purchase
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Chart 2-3 Growth of U.S. Merchandis
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Chart 2-5 Households: Credit Market
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THE HEADWINDS ARE MOSTLY CALMINGAs
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1993, real consumer spending increa
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RESIDENTIAL INVESTMENTResidential i
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smallest annual increase in 20 year
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ments with the Internal Revenue Ser
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safe-harbor rules for underpayment
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Chart 2-9 Alternative Measures of t
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Meanwhile, the Mountain States were
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inflation is measured by the Blue C
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Saving, Investment, and Capital Acc
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the future should be reflected in l
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Chart 2-15 Dynamic Effects of Defic
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joyed healthy average real GDP grow
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Chart 2-16 Personal Income Taxes as
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TABLE 2-2.— Administration Foreca
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TABLE 2-3.— Accounting for Growth
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CHAPTER 3Trends and Recent Developm
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first quarter of 1991, nonfarm payr
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cause defense cutbacks have caused
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UNEMPLOYMENT AND NONEMPLOYMENTThe U
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Chart 3-3 Civilian Unemployment Rat
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Chart 3-6 Employment-to-Population
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Chart 3-8 Ratio of White-Collar to
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than would be expected given its hi
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that the natural rate is falling? M
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SLOW INCOME GROWTHIncome trends hav
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Chart 3-10 Average Annual Growth of
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Box 3-3.—Consequences of Producti
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likely that immigration could expla
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We do, however, know how many worke
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size. No data are available on vola
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BENEFITSOne of the concerns raised
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edented partnership to develop a nu
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CHAPTER 4Health Care ReformTHE UNIT
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make cost-conscious decisions. In a
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A third rationale for universal cov
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Box 4-1.—Moral Hazard and Adverse
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ies depending on one's health statu
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than people in other countries do,
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sumers are ill equipped to bring st
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By itself, the aging of the populat
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TABLE 4-3.- Sources and Uses of Hea
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about 65 to 70 cents for a typical
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THE ARCHITECTURE OF THE HEALTHSECUR
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etary savings for the Federal Gover
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contribution, within limits. Outsid
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salary income, payments from the em
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TABLE 4-6.—Caps on Premiums by Fi
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An example will illustrate the proc
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TABLE 4-9.—Sources and Uses of Fe
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Chart 4-9 Business Spending on Heal
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Health care reform should set the s
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and private sectors, addressing env
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Box 5-1.—Selected National Perfor
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Box 5-2*—Market PowerFirms are sa
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ate regulation. For example, State
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competitiveness of U.S. industry, a
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Box 5-4.—ExternalitiesAn external
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in the habitat of the spotted owl r
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CLIMATE CHANGE ACTION PLANCertain g
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eral, lays a foundation for broader
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The Administration's proposal seeks
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vances in technical know-how have a
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Investments in R&D are risky. Like
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1950s and 1960s, and American compa
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ico and Lawrence Livermore in Calif
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of industry. MOCs will be affiliate
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tiveness. Again, the hoped-for resu
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forts to cut the massive Federal bu
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TECHNOLOGY POLICY, GROWTH, ANDCOMPE
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mitment to an open international tr
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ses, which take such intersectoral
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An important sectoral development i
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TABLE 6-3.—Stock of U.S. Outward
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technical change has been offered a
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ent account is a broader measure of
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TABLE 6-6.—Intrafirm Trade as Sha
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greater access to the Japanese mark
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the transparency of its trade regim
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that if the states of the former So
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Box 6-3.—Mexican Economic Reforms
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1998, while nontariff barriers on a
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ward convergence in environmental a
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Box 6-4.—The Asian "Miracle"Per c
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Box 6-5.—The Economic Impact of t
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development, and environmental clea
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THE TRADE POLICY AGENDABy lowering
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ignated monopolies. It also establi
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The dollar ended 1993 roughly where
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Box 6-7.—Exchange-Rate Volatility
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Chart 6-5 French Franc-Deutsche Mar
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Besides bringing these endeavors to
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LETTER OF TRANSMITTALCOUNCIL OF ECO
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Report to the President on the Acti
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duction budget package, the North A
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Working Group studying cost-benefit
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prepares the Economic Indicators an
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Appendix BSTATISTICAL TABLES RELATI
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POPULATION, EMPLOYMENT, WAGES, AND
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AGRICULTURE:PageB-96. Farm income,
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NATIONAL INCOME OR EXPENDITURETABLE
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TABLE B-2.—Gross domestic product
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TABLE B-3.—Implicit price deflato
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TABLE B-4.—Fixed-weighted price i
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TABLE B-5.—Changes in gross domes
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TABLE B-7.—Cross domestic product
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TABLE B-9.—Gross domestic product
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TABLE B-ll.—Gross domestic produc
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TABLE B-13.—Gross domestic produc
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TABLE B-15.—Personal consumption
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TABLE B-17.—Gross and net private
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TABLE B-19.—Inventories and final
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TABLE B-21.—Foreign transactions
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TABLE B-23.—Relation of gross dom
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TABLE B-25.—National income by ty
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TABLE B-26.—Sources of personal i
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TABLE B-27.—Disposition of person
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TABLE B-29.—Gross sating and inve
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TABLE B-31.—Median money income (
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TABLE B-33.—Population and the la
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TABLE B-34.—Civilian employment a
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TABLE B-36.—Unemployment by demog
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TABLE B-38.—Civilian labor force
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TABLE B-40.—Civilian unemployment
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TABLE B-42.—Unemployment by durat
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TABLE B-44.—Employees on nonagric
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TABLE B-45.—Hours and earnings in
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TABLE B-47.—Productivity and rela
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PRODUCTION AND BUSINESS ACTIVITYTAB
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TABLE B-51.—Industrial production
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TABLE B-53.—New construction acti
Page 336 and 337: TABLE B-54.—New housing units sta
Page 338 and 339: Year or monthTABLE B-56.—Manufact
Page 340 and 341: TABLE B-58.—Manufacturers' new an
Page 342 and 343: TABLE B-60.—Consumer price indexe
Page 344 and 345: TABLE B-61.—Consumer price indexe
Page 346 and 347: TABLE B-63.—Changes in consumer p
Page 348 and 349: TABLE B-64.—Producer price indexe
Page 350 and 351: TABLE B-66.—Producer price indexe
Page 352 and 353: TABLE B-67.—Changes in producer p
Page 354 and 355: TABLE B-69.—Components of money s
Page 356 and 357: TABLE B-70.—Aggregate reserves of
Page 358 and 359: TABLE B-72.—Bond yields and inter
Page 360 and 361: TABLE B-73.—Total funds raised in
Page 362 and 363: TABLE B-74.—Mortgage debt outstan
Page 364 and 365: TABLE B-76.—Consumer credit outst
Page 366 and 367: TABLE B-78.—Federal receipts, out
Page 368 and 369: TABLE B-79.—Federal budget receip
Page 370 and 371: TABLE B-81.—Federal and State and
Page 372 and 373: TABLE B-83.—State and local gover
Page 374 and 375: TABLE B-85.—Interest-bearing publ
Page 376 and 377: TABLE B-87.—Estimated ownership o
Page 378 and 379: TABLE B-89.—Corporate profits by
Page 380 and 381: TABLE B-91.—Sales, profits, and s
Page 382 and 383: TABLE B-93.—Sources and uses of f
Page 384 and 385: TABLE B-95.—Business formation an
Page 388 and 389: TABLE B-99.—Indexes of prices rec
Page 390 and 391: TABLE B-101.— Farm business balan
Page 392 and 393: TABLE B-103.—U.S. international t
Page 394 and 395: TABLE B-104.—U.S. merchandise exp
Page 396 and 397: TABLE B-106.—U.S. merchandise exp
Page 398 and 399: TABLE B-108.—Industrial productio
Page 400 and 401: TABLE B-110.—Foreign exchange rat
Page 402 and 403: NATIONAL WEALTHTABLE B-l 12.—Nati
Page 404: SUPPLEMENTARY TABLETABLE B-114.—S
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