Howell Heflin said "I interpret that to mean that over a 2-year period, which is 24 months, if estimated in the last 6 months of that 24-month period, there would be economic growth less than 1 percent; therefore, it would go into effect. That seems to me to be very difficult for anybody to estimate what the growth will be 18 months in advance. We estimate economic growth in calculating what revenues will be, and that sort of thing, 12 months in advance. But to try to do that for 18 months in advance seems to cause some problems." @ PoliticalQuotes.com

On the recordFebruary 28, 1994

I interpret that to mean that over a 2-year period, which is 24 months, if estimated in the last 6 months of that 24-month period, there would be economic growth less than 1 percent; therefore, it would go into effect. That seems to me to be very difficult for anybody to estimate what the growth will be 18 months in advance. We estimate economic growth in calculating what revenues will be, and that sort of thing, 12 months in advance. But to try to do that for 18 months in advance seems to cause some problems.

Said by

Howell Heflin

Democratic · Alabama

Source

govinfo.gov

Editor's note · Context

Speaker Heflin discusses concerns about estimating economic growth and its implications for legislation.

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