Wednesday, August 14, 1974

Cedar Rapids Gazette

Location: Cedar Rapids, Iowa

Page: 10

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Text Content of Page 10 of Cedar Rapids Gazette on Wednesday, August 14, 1974

Cedar Rapids Gazette (Newspaper) - August 14, 1974, Cedar Rapids, Iowa The (edar Rapids Gazette: Wed., Auk. It, 1974 5A Ford Economic Preview Adds Up to Good News By Sylvia Porter NUW YORK - What does the transfer of presidential! power from Richard Nixon to Gerald Ford mean to you — iii terms of your cost of living your job security, ability to finance buyinK or buildinK a house and * her key pocketbook issues 9 * BULLETIN NO I As any ll. S consumer, your cost of living will continue to surKe up Second of five columns ward at an intolerably rapid pace for an oppressively long period. There is no feasible way lo slash the rate of rise at once — much less to reverse the uptrend — short of a catastrophic depression And that scarcely conies under the heading of feasible! But you can have more hope than before that the pace of rise will moderate considerably as the Ford administration gets to work Firm Steps Along with you and the vast majority of Americans, the new President is convinced that runaway inflation is the No I problem of the U S. and the world lie is determined to take firm steps to curb it As President, Ford will have much more cooperation from congress than Nixon ever had He will have the advantages of the honeymoon which all new Presidents are granted And he will have near him the tough anti-inflation fighters that Nixon assembled toward the end of his tenure — notably Secretary of the Treasury William Simon and Chairman of the Council of Economic Advisers Allan Greenspan — in addition to the now dedicated anti-inflation fighter. Federal Reserve Board Chairman Arthur Burns. Other Experts Ford will call on other experts in economics for new ideas, and they will respond — if for no other reason than the fact he has inherited as murderous a combination of economic minuses as any President in modern times and he needs (as we need) all the help he can get. BULLETIN NO. 2. as a young man or woman entering the work force with no special skills, you will find it tougher to get a jot) — for awhile al least — than those graduated a few years back And, even if you hold a job, your security will not be as great in a period of deliberately-engineered sluggishness in the economy Jobless Pietuce Ford will go along with anti inflation policies that are sure to boost unemployment. But there will be programs to offset the impact of unemployment in the private sector by creating jobs in the public sector And the economy will perk up as inflation moderates arid the credit squeeze eases. BULLETIN NO. 3. As a borrower of mortgage money to build or buy a house, you will find credit a bit easier to get as a result of housing programs sponsored under Nixon and of some easing of credit and declines in interest rates as the pace of inflation slows. It won t be easy or cheap money; I wouldn’t even try to guess when those happy condi tions will return But it won t be as tough and the' money cards won t lie stacked against you, as they are now BULLETIN NO 4 As a supporter of desirable federal aid programs and social welfare programs in general, you will bt' disappointed and forced to shelve your plans f'**- a period Too Late Ford will try — as Nixon didn’t try until the end, and then it was too late for him to do anything effective — to cut the budget so dollar outgo and income actually balance While the cuts Simon suggests may tx* far too tough to realize. Ford plans to cut spending — and, for this popular man of their own, congress may go to lengths it wouldn’t for other Presidents BULLETIN NO. 5. As a business man you may count on keeping the tax incentives already in the law, to encourage you to boost your spending on productive new plants and equipment — and perhaps you’ll get an even more liberal investment tax credit and depreciation breaks Ford fully appreciates that boosting productivity is a fundamental answer to inflation He is on record as favoring at least the current 7 percent investment tax credit and rapid depreciation. BULLETIN NO 8 As an investor looking forward to easier taxing of capital gains, you too may have to wait for awhile Ford is not in favor of what he calls tinkering with our ta\ system — up or down — at tins delicate stagi* in our economy. Without presidential leadership. congress is unlikely to grab this issue. Tax reform in general is up in the air. BULLETIN NO 7 As an exporter or importer, you may be encouraged This administration will be more eager than Nixon's ever was to seek understandings on monetary reform and more in favor of a positive policy of economic-financial cooperation with our Western European allies and Japan This includes searching for understandings with the Arab powers on oil prices and constructive use of their almost obscenely swollen dollar hoards — a search begun by Simon under Nixon These are merely economic “bulletins." They do, though, give you a preview of your new White House, and this along with the blessed end of uncertainty and do nothingness spells good news. BIG GEORGE! Virgil Partch ions ONLY 3 DAYS LEFT! Two Bandits Forget Loot DUNN, N ( (AU) — Two money from the cash drawer men held up the night clerk at Ile turned it over and they put the Ramada Inn. But they for- it on a chair while they relieved got to take the loot    him of his wallet and watch Horace McLamb told police When they fled they forgot the armed men entered the the cash about $900 In the motel and demanded the wallet: $12. QP wha! is a KILLIAN BONIS? A WEEKLY StRIIS Of SENSATIONAL VALUES PLANNED I* COOPERATION WITH ONLY THE • est of manufacturers. EACH »ONUS ITEM MEETS OUR RIGID STANDARDS OF QUALITY ANO WILL IE SOLD AT LOW •ONUS PRICES ONLY WHILE SPECIAL QUANTITIES LAST. Crepe Sole Casuals HERS, REGULARLY 17.00 HIS, REGULARLY 19.00 A great go-together for both him and her! The softest beige suede with a plantation crepe sole to cuddle your feet in comfort! The perfect shoe for leisure or outdoor activities. Moc-toe styling. Women’s 5Vt thru IO and men’s 7 to I 2. Cedar Rapids: Downtown Third Floor and Lindale Plata Iowa City: Mall Shopping Cantar on Sit at Sycamore Offer Good on Any Regular Priced Wig Downtown Second Floor “ll I hat's a meatball. I'm VS ill the Stilt." the lineup . . . rugged, tough, durable . . . A LEVI S ■ CORDUROY SLACKS Comfortable corduroy for campus and casual wear. Durawale plus for improved shrinkage control with washing In brown, navy, light blue and wheat. 31-38 13.30 B. LEVI’S * DENIM BEU BOTTOMS The all American favorite when it comes to blue leans! 100% cotton leans with belt loop styling. In true denim blue only. Rugged for long wear 31 38. 13.50 C. LEVI S * DENIM PATCH POCKET JEANS A new version of an old standard in jean styling. I 00% cotton that's fully washable for easy care. Durable leans in denim blue only. 3 I -38. 14.50 Cedar Rapid*: Downtown Strait Floor and Lindale Plato, Iowa City: Mall Shopping Cantar at Six on Sycamore _Killians_ Your old wig is worth 10.00 to Killian’s and will be accepted as a trade-in on any wig from our regular stock priced 25.00, 30.00, 35 OO Save now! I Wig Trade-in Sale 0.00 FOR YOUR OLD WIG ON A NEW WIG PURCHASE