Congress of the United States Congressional Budget Office
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چکیده
NOTES Unless otherwise indicated, all years referred to in Chapter I are calendar years and all years in Chapter II are fiscal years. "Growth during 1988" or "growth in 1988" means growth from the end of 1987 to the end of 1988 except where otherwise specified. "Growth between 1987 and 1988" means the percentage difference between the annual average levels in 1987 and 1988. Unemployment rates throughout the report are calculated on the basis of the civilian labor force. Details in the text and tables of this report may not add to totals because of rounding. In figures showing periods of recession, shaded areas indicate the months between cyclical peaks (P) and recession troughs (T). The Balanced Budget and Emergency Deficit Control Act of 1985 (popularly known as Gramm-Rudman-Hollings) is also referred to in this volume more briefly as the Balanced Budget Act. The Balanced Budget and Emergency Deficit Control Reaffirmation Act of 1987 refers to amendments passed in late 1987 and is referred to in this volume more briefly as the Balanced Budget Reaffirmation Act. In Chapter I of this report, the 10-year constant-maturity bond referred to briefly as the 10-year bond rate. rate is PREFACE This volume is one of a series of reports on the state of the economy and the budget issued periodically by the Congressional Budget Office (CBO). In accordance with CBO's mandate to provide objective and impartial analysis, the report contains no recommendations. The baseline outlay projections were prepared by the staff of the Budget Analysis Division under the supervision of James L. Water. The revenue estimates were prepared by the staff of the Tax Analysis Division under the direction of Rosemary D. Marcuss and Kathleen M. O'Connell. Principal staff contributors are listed in Appendix C.
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