Advisor Sees $10 Billion Deficit If Surtax Not Extended
Budget implications from a pending surtax extension discussed by UPI sourced remarks. McCracken warns without extension, a roughly 10 billion deficit looms in a stagnant economy, inflation risk cited, and calls for measured action amid unemployment concerns and policy uncertainty.
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Don Paul W. McCracken
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Walnut Growers Hit By 5.8 Million Plan For Machinery
McCracken voices concern over a 14 percent rise in expenditures planned by businessmen for new machinery equipment and facilities. He warns such expansion could pressurize an already tight economy as price level uncertainties influence future plans. He supports last June's surtax and spending cuts as correct medicine to halt inflation, expecting benefits in coming months.
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