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7
DOMESTIC AFFAIRS
Senate approved 91-0 and sent to House legis providing new
disaster relief. ABC noted.
GM torrecall 1300 because of increased Cadillac sales and it
cancelled another planned layoff. ABC noted.
USW settlement appears possible Thurs.
USDA's Long said US had better learn to live w/high food
prices because subsidies are being phased out, Admin's belt-
tightening measures have failed and public doesn't want sterner
measures. Alternatives are higher taxes, less fedl spending,
tightening of credit and possible dollar reevaluation, hessaid,
and such actions "would probably be totally unacceptable to Hill
and public generally.
Maybe we just have to learn to live
w/inflation. There's some question as to how truly honest we
are about strong public statements against inflation, because it's
our collective actions which induce it. 11
Mathias endorsed Shultz call for 8% cut in w/holding as he
said $10B Dem tax cut would only result in more inflation.
D-J off over 3 to 843, 71 on 11M volume.
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