bytes inook at 140 this card, that is a tweet. hand.olding a tweet in my it is a breakthrough that we went through. the 1401 processing unit 3000 of the cards we just looked at. them in this0 of unit. the control information for attaching devices to it. the card reader is also to the processing unit. the minimum memory was 1000 characters of memory. anything one windows with less than 1700 characters. there are 4000 characters in this unit. they had additional room to get up to 16 k. is 16,000 bytes of memory. the system that we are dealing with it great because i can look at what is happening, you read the next card. this is the next card that will be read by the program. is to am going to do reset the computer. another thing that was a drive tough was a tape store data. tapeld take one real of 72 thousand boxes of cards. this is roughly 2000 cards in a box. usually you would see it with new cards or if you are transporting a program around with you. i could store roughly 70,000 boxes of cards on one tape. we can see the tape run

years inook at several the federal budget i much more worried about the prospect of sharp cuts in federal spending that i think would be damaging the long-term growth projects by cutting back federal investment and especially damaging to incomes of lower income people who are dependent on certain forms of government spending. i think our economic policy in this country should be oriented especially for raising liver standards -- living standards for lower and middle income people. the first step is to do no harm by not taking away benefits people are depending on. i worry a lot in the short term about inappropriate cutbacks to government spending. beyond that, i think we can make changes that put the debt on a more sustainable path. this changes our less urgent because interest rates are so low. the last panel just finished with that point. i've written a paper with someone from brookings about the implications of what interest rate for fiscal policy and there are a number of possible explanations and the explanations have different implications for fiscal policy. on balance, they imply i