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"To Create Jobs, RN Pours It On, 11 is the title of Newsweek's
featured business article. RN's Economic report was a modest review
and look ahead but there was, "hidden in the blandness, another
startling switch in Nixonian policy¹¹ provisions for ¹¹a quick,
massive dose of Federal spending to cut unemployment. 11 No one
is exactly sure what the results will be.
Wanniski of National Observer found the "good" deficits received
in the Capital with only mild disapproval. Most expect the deficits to
start diminishing in the years ahead as the economy expands. But
Human Events charges that "this Republican Admin appears to have
come up with the most fiscally irresponsible budgets in US history
Such is yet another bewildering legacy of the Nixon era. 11 Also writing
in the conservative weekly, Henry Hazlitt calls the budget "appallingly
out of control. 11 And he sharply raps Connally's defense of the deficits
and the uncertainty he indicated to the Chamber over the duration of
controls.
2 pages in US News on the WH-CEA forecast for a bright 172 despite
some possible problems on the horizon in the area of inventory building,
housing, and trade. US News notes, as do other reports, that Herb
Stein called particular attention to the statement saying speculation over
an early end to controls is "groundless"
Another 3 pages on the
"people" side of the budget -- vast numbers are affected as domestic
spending climbs and climbs
And US News presents a 2-page red-
dominated graph of the budget over 20 years -- 16 deficits, 4 surpluses
and RN's reaching an unmatched "flood of red ink. 11
PHASE 2
Mrs. Whitman says Phase 2 seems to be working and the 2-3%
inflation goal should be approached. "Those of us on the Price Comm.
have been pleasantly surprised on how Ph. 2 has worked thus far.
"
Commerce's Podesta defended inconsistencies in Ph. 2 decisions as
necessary to prevent "smothering the economy's ability to move
forward at a stable effective pace
You can't have simplistic
solutions to complex problems. "
But Time's economic feature finds "a growing national doubt about
Phase 2. 11 There is cynicism and concern over equity. But "despite
the popular disillusionment, many e co nomists and businessmen believe
Phase 2 is generally pushing ahead toward its goal: to slow inflation. 11
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"ocrText": "15\n\"To Create Jobs, RN Pours It On, 11 is the title of Newsweek's\nfeatured business article. RN's Economic report was a modest review\nand look ahead but there was, \"hidden in the blandness, another\nstartling switch in Nixonian policy¹¹ provisions for ¹¹a quick,\nmassive dose of Federal spending to cut unemployment. 11 No one\nis exactly sure what the results will be.\nWanniski of National Observer found the \"good\" deficits received\nin the Capital with only mild disapproval. Most expect the deficits to\nstart diminishing in the years ahead as the economy expands. But\nHuman Events charges that \"this Republican Admin appears to have\ncome up with the most fiscally irresponsible budgets in US history\nSuch is yet another bewildering legacy of the Nixon era. 11 Also writing\nin the conservative weekly, Henry Hazlitt calls the budget \"appallingly\nout of control. 11 And he sharply raps Connally's defense of the deficits\nand the uncertainty he indicated to the Chamber over the duration of\ncontrols.\n2 pages in US News on the WH-CEA forecast for a bright 172 despite\nsome possible problems on the horizon in the area of inventory building,\nhousing, and trade. US News notes, as do other reports, that Herb\nStein called particular attention to the statement saying speculation over\nan early end to controls is \"groundless\"\nAnother 3 pages on the\n\"people\" side of the budget -- vast numbers are affected as domestic\nspending climbs and climbs\nAnd US News presents a 2-page red-\ndominated graph of the budget over 20 years -- 16 deficits, 4 surpluses\nand RN's reaching an unmatched \"flood of red ink. 11\nPHASE 2\nMrs. Whitman says Phase 2 seems to be working and the 2-3%\ninflation goal should be approached. \"Those of us on the Price Comm.\nhave been pleasantly surprised on how Ph. 2 has worked thus far.\n\"\nCommerce's Podesta defended inconsistencies in Ph. 2 decisions as\nnecessary to prevent \"smothering the economy's ability to move\nforward at a stable effective pace\nYou can't have simplistic\nsolutions to complex problems. \"\nBut Time's economic feature finds \"a growing national doubt about\nPhase 2. 11 There is cynicism and concern over equity. But \"despite\nthe popular disillusionment, many e co nomists and businessmen believe\nPhase 2 is generally pushing ahead toward its goal: to slow inflation. 11"
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