Four months after Inauguration Day, President Carter invited his party's congressional leadership to the White House for a breakfast-table briefing on the economic policies of the new administration. Charles L. Schultze, chairman of the Council of Economic Advisers, displayed charts showing that, with full cooperation from business, labor, and consum- ers, it might just be possible to generate enough economic growth to balance the federal budget by 1980, as the President had promised.
Bert Lance,...