MNE commenter "Laura" brought the existence of this Law to our attention in a recent comment and I thought it may be a good idea to post a link to the Act's wiki page to help familiarize or re-familiarize ourselves with this Act in light of recent discussions concerning the employment aspects of MMT.
Some excerpts from the wiki page:
...the Act provides for measures to create temporary government jobs to reduce unemployment,...
...If private enterprise appears not to be meeting these goals, the Act expressly allows the government to create a "reservoir of public employment."...Here is a link to the actual US Government H.R. 50 Legal Summary.
Declares the purpose of this Act to achieve a balanced Federal budget consistent with the achievement of the medium-term economic goals specified in this Act.......... Requires that the President's Budget recommend levels of outlays and receipts which are consistent with the short-term economic goals for employment and unemployment, production, real income, productivity, and prices and provide five-year projections of outlays and receipts consistent with the medium-term goals of reducing the rate of unemployment and inflation.