Ask the Scholar
Document scope · 1 page
Scholar
Ask about this object, its catalog metadata, its source description, or the page inventory.
For page-specific OCR and visual context, open one of the page chats.
Scholar Source Context
Document identity
localId
7336051
label
Remarks of the President at the Conference on Inflation [Ford Speech or Statement]
core
doc
dtoType
document
citationUrl
pageCount
1
Source metadata
id
7336051
sourceUrl
contentType
document
title
Remarks of the President at the Conference on Inflation [Ford Speech or Statement]
citationUrl
collections
White House Press Releases (Ford Administration)
Press Releases
largeImageUrl
imageCount
1
hasImages
yes
source
import
hasTranscription
no
Source extras
naId
7336051
levelOfDescription
item
productionDates
day
11
logicalDate
1974-09-11
month
9
year
1974
recordType
description
ocrSource
nara-archive
Single page context
seq
1
pageIndex
0
type
document
mediaId
039d6bd0f8bb1f5d
ocrText
Digitized from Box 2 of the White House Press Releases at the Gerald R. Ford Presidential Library
FOR RELEASE ON DELIVERY
SEPTEMBER 11, 1974
OFFICE OF THE WHITE HOUSE PRESS SECRETARY
THE WHITE HOUSE
REMARKS OF THE PRESIDENT
AT THE CONFERENCE ON INFLATION
Good morning. I am pleased to join this morning with so many
distinguished members of the Congress, both Democratic and
Republican, and the outstanding leaders of America's great
labor unions, and guests.
We have gathered here today to deal with inflation, an immediate
danger threatening every American.
The future of labor union members and all other Americans depends
upon what we can achieve together in the campaign against inflation.
I want to thank you all for participating today in this important
meeting. Some of you have generously accepted an additional
burden by agreeing to participate in other such meetings. By so
doing, you indicate that you share with me the conviction that in-
flation is the most critical national issue of the day. I deeply
appreciate your willingness to work together with me on a problem
that transcends America's many special interests--whether
Republican or Democratic, labor or business, urban or rural. It
also goes beyond any divisions based on age, sex, race, color, or
creed.
The enlistment of trade unionists in the war against inflation is
consistent with the patriotic involvement of American labor in every
great challenge that has faced our nation. Without the productive
dedication of American labor, World War II might have ended
differently. Labor built America. Labor is America. Together,
we must now preserve and enhance the economic base of our
existence from everybody's enemy--the scourge of inflation.
We need your advice and guidance on this issue of such over-
whelming concern to all your members. I want your ideas on
steps we can take to help the individual as well as the nation.
Today's meeting is a part of the series that culminates in the
Conference on Inflation on September 27th and 28th. Since this
is only a one day session, let us get directly to the point. Let us
dispense with formality. Let us be frank. Let us also try to
keep our comments brief and on target.
I will certainly welcome, however, any detailed statement anyone
wishes to submit in the form of written proposals. Please submit
these directly to me, if you will, within the next few days. That
- MORE -
GERALD FORD LIBRARY
PAGE TWO
will give us adequate time to consider them before the conclusion
of the designated time frame.
You are aware of the severity of inflation. Although inflation is
unfortunately no novelty in our economic history, its present
form is the worst we have experienced in 27 years. Consumer
prices are increasing at an unacceptable annual rate of 11 percent.
Statistics alone are inadequate to describe inflation in human
terms. Cold and impersonal numbers and percentages cannot
describe the impact on people's lives. While everyone is hit by
inflation, some are struck harder than others. I am thinking of
families on low and moderate incomes, of older Americans who
are struggling on modest pensions, and our young people whose
initial experience with the employment scene may not generate
real confidence in our economic system.
These are human problems which must guide the actions of
Government as well as the decisions of the private sector.
Government has a particular obligation to act responsibly. We
will make a concerted effort to cut the budget and reduce our
expenditures. But we shall wield our budgetary knife ever so
carefully, so as not to sacrifice the meat while trimming the fat.
Within our general budgetary restraint, we shall be mindful of the
need to increase what we allocate to the essential while we decrease
what we apportion to programs which are to some extent discretionary.
We also must exercise care to prevent our recently overheated
economy from cooling off too fast. We must avoid a damaging
recession.
We are now making a cooperative effort in response to the
initiative of the distinguished majority leader of the Senate and
other members of the Congress on a bi-partisan basis. The
legislative and executive branches are working together to seek
short-term answers to short-term problems and long-term
answers to long-term problems.
In May of 1973, the Administration requested enactment of the
Job Security Assistance Act. This proposal is an important
part of our policy to assist in a period of rising unemployment.
It would modernize the unemployment compensation system without
violating the relationship between the States and the Federal
Government.
I recognize the concern of many that unemployment might rise
because of the policies we must follow to fight inflation.
I am watching the unemployment rate very closely. This
Administration will act with compassion. We will not permit the
burden of necessary economic restraint to fall on those members
of society least able to bear the costs.
- MORE -
GERALD LIBRARY P. FORD
PAGE THREE
The unemployment rate in August, announced last Friday,
was 5.4 percent. But we certainly cannot be complacent
about any American lacking work.
The present situation calls for full use of available tools and
dollars.
I have instructed the Department of Labor to accelerate the
obligation of currently available funds under the Comprehensive
Employment and Training Act.
The Secretary of Labor will immediately disperse $65 million to
those communities in which unemployment is highest. By the
end of the month he will make available another $350 million under
CETA Title II. This $415 million will finance some 85, 000
public sector jobs in State and local governments. Added to
the almost $550 million obligated for public service employment
in June from the FY 1974 appropriation, and about $50 million
in prime sponsorships under the CETA Title I have allocated
for this purpose, currently available resources will provide
170, 000 public service jobs this coming winter. The effect of
these actions will be to double the number of federally funded
public service jobs. In addition, $1. 3 billion will be available
to State and local governments for manpower programs.
Beyond this, drawing on the outcome of the Conference on In-
flation, and your suggestions, we will develop contingency plans
against the possibility that unemployment might give evidence of
rising to substantially higher levels. If the employment statistics
demonstrate the need in the future, we will be ready to present
such plans to the Congress and to work together to assure a
mutually satisfactory course of action before the end of this
session.
To leaders of our labor unions, and to the captains of industry,
I make a sincere appeal for restraint. And it must be a self-
imposed restraint. As I have said before, there will be no
controls imposed on wages and prices. Settlements at the
bargaining table are the responsibility of the participants
as long as they respect the public interest.
We need your help today, not merely for my Administration,
but for the whole Nation. I hope this discussion will not only
be productive of ideas to preserve the American dollar, but
will demonstrate that we remain a nation united.
# # #
GERALD FORD LIBRARY