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New Jersey Key Republicans, West Orange, NJ, September 28, 1966
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4525979
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New Jersey Key Republicans, West Orange, NJ, September 28, 1966
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Gerald R. Ford Congressional Papers
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The original documents are located in Box D21, folder "New Jersey Key Republicans, West
Orange, NJ, September 28, 1966" of the Ford Congressional Papers: Press Secretary and
Speech File at the Gerald R. Ford Presidential Library.
Copyright Notice
The copyright law of the United States (Title 17, United States Code) governs the making of
photocopies or other reproductions of copyrighted material. The Council donated to the United
States of America his copyrights in all of his unpublished writings in National Archives collections.
Works prepared by U.S. Government employees as part of their official duties are in the public
domain. The copyrights to materials written by other individuals or organizations are presumed to
remain with them. If you think any of the information displayed in the PDF is subject to a valid
copyright claim, please contact the Gerald R. Ford Presidential Library.
Digitized from Box D21 of The Ford Congressional Papers: Press Secretary and Speech File at the Gerald R. Ford Presidential Library
CONGRESSMAN
NEWS
GERALD R. FORD
HOUSE REPUBLICAN LEADER
RELEASE
FOR RELEASE AT 7 P.M.
WEDNESDAY, SEPT. 28, 1966
EXCERPTS FROM SPEECH BEFORE NEW JERSEY KEY REPUBLICANS AT WEST ORANGE, NEW JERSEY.
Inflation is whipping along this year at a nearly 5 per cent clip. President
Johnson has not only failed to halt the steady rise in the cost of living, he has
even failed to slow it down.
The President's anti-investment proposals--suspension of the 7 per cent
investment tax credit and accelerated depreciation on buildings--have been branded
too little and too late not only by me but by many Democrats in Congress.
Mr. Johnson sat and fiddled while inflation fires burned, loath to act
vigorously in an election year for fear of losing popular support. It is just this
kind of sit-tight expediency that has caused his popularity rating to plummet.
The President's policy of expediency, of drift and delay, has plunged this
nation into a crisis of economic uncertainty. The prime time for strong action
against inflation has passed. Any measures now undertaken will be far less effective
and far more dangerous in impact than moves timely made. And apart from spending
cuts, any measures now taken will give the economy a kick in the teeth.
Mr. Johnson should have moved last January to make deep cuts in non-defense
spending. He should have put federal non-defense spending on an austerity budget.
This would have served as an effective check on inflation by taking billions of
dollars out of the economy. Instead, eager to please the free-spenders who were
bent on expanding his Great Society programs, Mr. Johnson blithely told the country
it could have its cake and eat it, too.
He in effect told the American people: Don't worry about that little old war
in Vietnam. I'll take care of that and keep the gravy train rolling at the same time.
What has happened as a result of Mr. Johnson's short-sightedness? Inflation
is so out of control that the Administration is working on standby wage and price
control legislation along with a program to increase personal and corporate income
taxes.
Am I just making a partisan prediction? Not at all. Treasury Secretary
Henry H. Fowler wasn't "just saying that" when he said an income tax is probable.
He didn't say possible; he said probable.
(MORE)
-2-
SPEECH EXCERPTS
Why did Mr. Fowler say an income tax increase is probable? He obviously feels
the wild-spending Democrats in Congress won't ease up on spending in acting on the
eight big money bills still before Congress. He obviously feels Vietnam War costs
will continue to go up. And he obviously does not anticipate that the war will end
within the next nine months.
That's the sticky finger in the mess, The President has tried to run this
country as though there wasn't a war on. While young Americans are dying in Vietnam,
the rest of us are supposed to live it up back home. I say this is not only morally
wrong; it has confused the American people during a crisis that requires their full
devotion and dedication to the cause of liberty.
We are in a mess. We're in a mess in Vietnam, mired down in stalemate in a
war the President doesn't know how to win or end. We're in a mess elsewhere in the
world, with our prestige steadily slipping as our embassies are attacked and our
Flag is burned.
We're in a mess at home, with the cost of living at an all-time high, interest
rates soaring to the highest point in 45 years, an accumulation of more than $30
billion in deficits since 1960, a shrinking dollar instead of a sound one, and the
prospect of more and more taxes,
Mr. Johnson has arranged for a conference at Manila in October with seven
Asian nations. Let's not kid ourselves that President Marcos of the Philippines
hatched this one up.
I hope the Manila meeting helps. Every American does, whether he is a
Republican or a Democrat. But you know and I know that the President is hoping to
divert attention from the mess, both foreign and domestic, just a short time before
the election.
The American people will look at the results of the Manila meeting. But they
won't be misled. They know they've been getting a diet of propaganda and misinfor-
mation from the Johnson Administration. The crisis of confidence in the Johnson
Administration has reached such proportions that the American people don't know what
to believe about their government, if anything.
Let's restore the people's confidence in their government. Let's elect more
Republicans--many more Republicans--to Congress in November.
# # #
Re: LBJ Policy Blunders
CONGRESSMAN
NEWS
GERALD R. FORD
HOUSE REPUBLICAN LEADER
RELEASE
FOR RELEASE AT 7 P.M.
WEDNESDAY, SEPT. 28, 1966
EXCERPTS FROM SPEECH BEFORE NEW JERSEY KEY REPUBLICANS AT WEST ORANGE, NEW JERSEY.
Inflation is whipping along this year at a nearly 5 per cent clip. President
Johnson has not only failed to halt the steady rise in the cost of living, he has
even failed to slow it down.
The President's anti-investment proposals--suspension of the 7 per cent
investment tax credit and accelerated depreciation on buildings--have been branded
too little and too late not only by me but by many Democrats in Congress.
Mr. Johnson sat and fiddled while inflation fires burned, loath to act
vigorously in an election year for fear of losing popular support. It is just this
kind of sit-tight expediency that has caused his popularity rating to plummet.
The President's policy of expediency, of drift and delay, has plunged this
nation into a crisis of economic uncertainty. The prime time for strong action
against inflation has passed. Any measures now undertaken will be far less effective
and far more dangerous in impact than moves timely made And apart from spending
cuts, any measures now taken will give the economy a kick in the teeth.
Mr. Johnson should have moved last January to make deep cuts in non-defense
spending. He should have put federal non-defense spending on an austerity budget.
This would have served as an effective check on inflation by taking billions of
dollars out of the economy. Instead, eager to please the free-spenders who were
bent on expanding his Great Society programs, Mr. Johnson blithely told the country
it could have its cake and eat it, too.
He in effect told the American people: Don't worry about that little old war
in Vietnam. I'll take care of that and keep the gravy train rolling at the same time.
What has happened as a result of Mr. Johnson's short-sightedness? Inflation
is so out of control that the Administration is working on standby wage and price
control legislation along with a program to increase personal and corporate income
taxes.
Am I just making a partisan prediction? Not at all. Treasury Secretary
INCREASE
Henry H. Fowler wasn't "just saying that" when he said an income tax^is probable.
He didn't say possible; he said probable.
(MORE)
FORD & LIBRARY GERALD
-2-
SPEECH EXCERPTS
Why did Mr. Fowler say an income tax increase is probable? He obviously feels
the wild-spending Democrats in Congress won't ease up on spending in acting on the
eight big money bills still before Congress. He obviously feels Vietnam War costs
will continue to go up. And he obviously does not anticipate that the war will end
within the next nine months.
That's the sticky finger in the mess. The President has tried to run this
country as though there wasn't a war on. While young Americans are dying in Vietnam,
the rest of us are supposed to live it up back home. I say this is not only morally
wrong; it has confused the American people during a crisis that requires their full
devotion and dedication to the cause of liberty.
We are in a mess. We're in a mess in Vietnam, mired down in stalemate in a
war the President doesn't know how to win or end. We're in a mess elsewhere in the
world, with our prestige steadily slipping as our embassies are attacked and our
Flag is burned.
We're in a mess at home, with the cost of living at an all-time high, interest
rates soaring to the highest point in 45 years, an accumulation of more than $30
billion in deficits since 1960, a shrinking dollar instead of a sound one, and the
prospect of more and more taxes.
Mr. Johnson has arranged for a conference at Manila in October with seven
Asian nations. Let's not kid ourselves that President Marcos of the Philippines
hatched this one up.
I hope the Manila meeting helps. Every American does, whether he is a
Republican or a Democrat. But you know and I know that the President is hoping to
divert attention from the mess, both foreign and domestic, just a short time before
the election.
The American people will look at the results of the Manila meeting. But they
won't be misled. They know they've been getting a diet of propaganda and misinfor-
mation from the Johnson Administration. The crisis of confidence in the Johnson
Administration has reached such proportions that the American people don't know what
to believe about their government, if anything.
Let's restore the people's confidence in their government. Let's elect more
Republicans--many more Republicans--to Congress in November.
# # #