15 U.S.C. § 1022 — Economic Report of President; coverage; supplementary reports; reference to Congressional joint committee; percentage rate of unemployment; definitions

(a) No later than 10 days after submitting the title 31 budget, the President must send Congress, with the Council of Economic Advisers’ annual report, an Economic Report and copies to each Governor and appropriate State and local officials. It must state (1) current and foreseeable employment, unemployment, production, capital formation, real-income, federal-outlay/receipt, productivity, trade/payment, and price trends and analyze recent domestic and international developments; (2)(A) short-term numerical goals for the report year and next year for employment, unemployment, production, real income, productivity, federal outlays as a share of gross national product, and prices, consistent with rapidly achieving full employment and production, greater real income, balanced growth, nationally appropriate federal spending, a balanced budget, productivity, price stability, better trade balance, and national priorities, and (B) corresponding goals for the next three years as medium-term goals; (3) employment objectives for youth, women, minorities, disabled people, veterans, and middle-aged and older people; and (4) a program carrying out section 1021’s policy and desired legislation recommendations. (b) The President may send supplemental reports with needed or desirable additional or revised recommendations. (c) The Economic Report and supplements must be referred to section 1024’s joint committee. (d) For the 1978 Act, unemployment is the Bureau of Labor Statistics’ civilian-labor-force percentage calculated under procedures in effect October 27, 1978. (e) For that Act, “inflation,” “prices,” and “reasonable price stability” mean the consumer price index’s rate of change or level as reported by that Bureau; this section does not otherwise define those terms.