The "Business Week" panel of editors stress that predicting the economic outlook is a risky business. With this caveat, they begin their predictions. President Carter will not be able to do everything he promised because circumstances since his election have changed and there are certain constraints that he could not be aware of. Wolman talks about the economy and current economic policy under Arthur Burns. Jonas discusses the option of cutting taxes or cutting government spending. Carson-Parker thinks that the stock market will fall. He believes that there may be double-digit inflation by 1978. Farell discusses the political climate with the Democrats controlling Congress and the White House. The panel also covers the possibility of price controls, and a 10 percent increase in oil prices by OPEC.