Gardner Ackley: Testimony before the Joint Economic Committee

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Gardner Ackley: Testimony before the Joint Economic Committee

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Abstract

First, with respect to the Government’s own international transactions, very stringent measures have been taken to reduce the dollar drain associated both with our defense expenditures and with our foreign aid program. Our foreign aid programs have been tied almost entirely to procurement in the United States. The Defense Department has tried to procure domestically wherever possible. It has succeeded in getting agreement with other countries to offset some of the offshore costs of our Defense Establishment. Every Government agency which has international expenditures is scrutinized with great care by the Budget Bureau with respect to its spending abroad.

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