CARTER ASKS $500 BILLION BUDGET; SEEKS HIGH‐EMPLOYMENT ECONOMY AND OFFERS FEW NEW PROGRAMS
Pres Carter, in budget message to Cong, presenting $500-billion plan for '79, says his $25-billion tax cut proposal will help keep econ growing at steady but moderate rate of 5% a yr; Carter's long-range projection shows inflation and unemployment declining slowly but steadily to rates of 4% apiece by Dec '83; forecasts that his mix of tax reductions and spending will lead to real econ growth of 4.7% in '78, shade under 4.9% estimated for '77, and 4.8% in '79; hints broadly that another tax cut would probably be needed in autumn of '80, when he may run for 2d term; seems to write off goal of balancing budget by '81 on ground that keeping econ growing and bringing unemployment down should come 1st; Schultze says business investment is expected to grow by 7% in real terms this yr and 9% in '79 (L)