WASHINGTON -- Balancing the budget in the next five years, as required under a constitutional amendment being considered in Congress, would be neither impossible nor bad for the economy, the head of the Congressional Budget Office said yesterday.

In testimony before the House Budget Committee, agency director Robert Reischauer contradicted a dire warning issued by an ad hoc group of 447 economists on Tuesday that severe economic problems and dislocations would inevitably result if Congress adhered to a constitutional mandate to eliminate the deficit.

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