Word: pechman
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...probably rank above the rest on the influence chart. One is Joseph Pechman, 46, the short, greying economist at the Brookings Institution, who importantly shaped the form of the tax cut and now is lobbying for a reduction in excise taxes. Pechman went to the University of Wisconsin with Heller, landed his first Government job (in the Treasury) through Heller after World War II, now frequently discusses the economy with the CEA chief. Specializing at the moment in federal-state relations, Pechman this week will hand to the President a lengthy report that recommends methods for channeling a portion...
...major reason for the economy's failure to rise strongly from the 1958 recession, said Schultze, was too much tightening of credit by the Federal Reserve Board, and the Government's attempt to "budget for an overly large surplus." "If these restraints were relaxed," added Joseph Pechman of the Brookings Institution, "I would have little doubt that the economy would grow faster and that this growth would be interrupted less frequently by periodic recession." Both Schultze and Pechman recommended more Government spending or ;a tax reduction-or both-as anti-recessionary measures...