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Newspaper
Athens Messenger
Location
Athens, Ohio, United States of America
Date
Feb 13, 1975
Page
6
Washington report by Clarence E. Miller notes FY 1976 budget at 349 billion with a 52 billion deficit. He warns the deficit surpasses postwar totals and calls for fiscal restraint, highlighting debt ceiling rises, interest costs, and inflationary federal outlays.
Ford proposes a sweeping revision of last year’s coal bill, arguing environmental limits are needed while defending a seven billion ton reserve in federal forests. He cites a $1 billion reclamation plan over ten years and urges Congress to adjust the package to balance production, environment, and energy independence goals.
AP Business Analyst John Cunniff notes slackening demand yet high prices. The Council on Wage and Price Stability plans to study metal cans rubber tires and industrial chemicals to explain why supply and demand may not be functioning. Several obvious factors are proposed without further inquiry.
The piece surveys how discount pricing cost plus contracts and floating interest rates affect American inflation and profits. It notes that price restraints erode as suppliers use discounts, cost plus deals reduce contractor risk, floating rates allow riskier loans, and escalator clauses raise payments with living costs.
The market place avoids reacting to a pull on the reins as sellers forecast uncertain economy ahead. Unable to forecast weeks ahead they offer rebates for short periods. Rebates appear as gifts but keep prices above market support and function as a seller subsidy.
In Ohio a bipartisan push seeks to require more than 180 state boards and commissions to submit proposed operating rules to the legislature before adoption. Rep. Thomas P. Gilmartin and William G. Batchelder sponsor a bill allowing 45 days for legislative approval or disapproval after procedures, aiming to curb red tape and improve agency transparency.
Washington report recounts a state dinner hosted for Prime Minister Bhutto of Pakistan. The writer, attending officially for the first time, notes concerns about media access and potential bias while praising President Ford as a strong national leader.
The speaker extols President Ford and criticizes Congress for opposing his economic program. He praises a comprehensive plan by economists and warns against inflationary votes, urging support for oil and energy policy, deregulation, and cautious foreign aid while defending Farm policies and the President’s leadership. The tone reflects a late 1970s White House booster perspective.
The piece reviews Martin Feldstein’s 1973 study for the Joint Economic Committee arguing unemployment in the U S is not simply a demand problem. It calls for shifting past policies, boosting youth employment stability, reducing seasonal demand swings, and easing job transitions.
Critics reveal a November 22 1971 memorandum claiming United Way will discriminate against non affiliated workers and favor union made goods and services. NATWC and Anonymous sources urge openness arguing secrecy harms public confidence and fairness.
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