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Chapter 5A Legislative Program To Help AchieveNational Economic GoalsTHE LEGISLATIVE PROGRAM for the coming year, which is presentedhere, is designed to help discharge the responsibilities of theFederal Government under the Employment Act of 1946. It takes accountof present and foreseeable economic conditions and seeks to reach an appropriatebalance among our national economic goals. The proposed measureswould strengthen the foundations on which sustainable economicgrowth and national security are based, help moderate fluctuations in oureconomy, aid in countering a resurgence of inflationary pressures, and assistin the sound development of the free world economy.First, the program recognizes the economic impact of the fiscal policies ofGovernment. It takes particular note of the far-reaching effects of theactivities under which the Federal Government makes loans directly toindividuals, business concerns, local governments, and other groups, or insuresor guarantees loans made to them by private lenders. Second, itproposes steps to improve our store of technical knowledge and productiveskills, the better to meet the problems of our time. Third, it suggests measuresto enhance the competitive character of our system of private enterprise,with emphasis on strengthening the economic position of small businessconcerns. Fourth, it suggests ways of giving to individuals greater protectionagainst economic hardships, of promoting integrity in labor-managementrelationships, and of improving industrial relations. Fifth, it proposes theextension of certain agricultural laws and the revision of others, to facilitatelong-needed adjustments. Sixth, it proposes means for widening andstrengthening our economic ties with other nations. And, finally, it suggestsmeasures for improving the economic information needed by private andpublic groups to follow and analyze economic developments and to providea sounder basis for policy decisions.GOVERNMENT FINANCESThe Federal Government's fiscal operations are of such size and characterthat the policies followed in these matters cannot fail to exert apowerful influence on economic conditions. Fiscal policies can contributesignificantly to the attainment of national economic objectivesor can impede their accomplishment. It is crucial, therefore, that they55