Campaign correspondence, 1960: August-September
This file contains materials collected by the office of President John F. Kennedy's secretary, Evelyn Lincoln, both during and prior to his Presidency, concerning Senator Kennedy's successful 1960 presidential campaign. Materials in this folder include correspondence, memorand...
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OCR Page 1 of 48CONFIDENTIAL
THE COMPLEAT ECONOMIC GAZETTEER
Questions that are asked a presidential candidate about
economics with tolerably consistent answers, reasons and due
warnings of mousetraps, pitfalls and other known hazards.
Q. Do you consider our present rate of economic growth to be adequate?
A. No. By growth, we mean the annual rate of increase in Gross National Product
or national output. In the years 1950 through 1958 Soviet GNP increased at an
average rate of between 6.5 and 7.5 per cent per annum. Our rate of increase
was less than three per cent.
Note: This is a fair and conservative comparison by Morris Bornstein, University
of Michigan for the Joint Economic Committee.
Q. What does a higher rate do for us?
A. It makes more goods available for consumption and more resources are
available
for saving and investment and thus to stimulate future growth. Higher
production means higher employment. It also means higher incomes and higher
public revenue. We are thus more likely to be able to cover public needs
without increasing taxes.
Q.
How can the government stimulate economic growth?
A. The most important thing is to avoid recession or depression. These are
periods of stagnation when growth does not occur or when it does not occur at
a normal rate. When plant and labor force are idle, there is obviously reduced
incentive to invest in new plant or to train new men.