Inflation and taxes shrink consumer buying power
A Finance Facts report by the National Consumer Finance Association shows inflation and taxes eroding disposable income. It notes the current dollar buys less than half of 1949 and that a four person family needs about 12,064 in 1975 to match 1949's 5,000, before state and local taxes. Personal consumer income declined last year for the first time in about 25 years.
MENTIONED IN THIS ARTICLE
National Consumer Finance Association
Finance Facts
NCFA
Why Personal Income Didn’t Buy More in 1974
The NCFA notes total personal income rose 9 percent to 1 150.4 billion in 1974 but taxes took 22.8 percent. Social Security contributions rose 283 percent from 1964 to 1974, more than state local taxes and federal taxes, and inflation worsened the effect, leaving individuals with less purchasing power.
MENTIONED IN THIS ARTICLE
NCFA
Rebuilding Rural Roads Senate panel urges more rural highway funding
A Senate Agriculture and Forestry committee report argues that additional spending on the nations 3.2 million miles of rural roads would not be wasted. It warns maintenance costs have risen and fuel tax revenues stabilize, risking deterioration without new funding. Metropolitan areas rely on rural transport for food and goods. The report omits concrete funding solutions.
MENTIONED IN THIS ARTICLE
U.S. Senate Committee On Agriculture and Forestry
Senate
Bankrupt Loan Defaults Prompt Congressional Alarm
A GAO and Education Department briefing warns of a soaring student loan default rate. Current 19 percent could reach 24.3 percent, with 60 percent of defaults being intentional. Since 1968, bad loans cost taxpayers over $173 million. only $13 million recovered. A five year bankruptcy moratorium is proposed to recover funds.
MENTIONED IN THIS ARTICLE
U.S. Department of Education
General Accounting Office
Congress
GAO
United Student Aid Funds
U.S. Office of Education
Chip Tossing Record Claim Draws Rural Foibles in Ohio News
The piece recounts Warren County Commissioner Robert Turner claiming a 193 feet 5 inches cow chip toss record. It links the sport to western lore, Amish farmers in Pennsylvania, and a humorous Olympics history, noting Ohioans’ role in keeping the sport alive.
MENTIONED IN THIS ARTICLE
Associated Press
Warren County
Robert Turner
Turner
Massey-Ferguson
Oklahoma
West
Great Plains
Jim Thorpe
Thorpe
Pennsylvania
Mr. Warren
Letter Brief Policies From The Messenger
This brief outlines that readers may submit general interest letters to the editor, all letters must be signed and include the sender’s address and telephone number, and The Messenger may condense letters to fit space and improve readability and reader interest.
Ohio poised to license speech and hearing practitioners
Ohio lawmakers move toward licensing speech pathologists and audiologists as 18 states already do. The proposed Ohio Board of Speech Pathology and Audiology would set qualifications, administer exams, and license practitioners, with existing pros able to obtain licenses via ASHA certification.
MENTIONED IN THIS ARTICLE
Columbus
Ohio
Marcus A. Roberto
Ravenna
James A. Rhodes
Anthony J. Celebrezze Jr
Cleveland
Celebrezze
U.S
U.S. Department of Health, Education and Welfare
American Speech and Hearing Association
House panel targets OMBE in push to abolish minority business office
A House Appropriations Committee probe attacks the Office of Minority Business Enterprise calling it duplicative and inefficient. The piece notes OMBE's mission to aid minority entrepreneurs, its pro capitalist approach, and its modest footprint within the Commerce Department amid broader government-wide programs for minority advancement.
MENTIONED IN THIS ARTICLE
Washington
House Appropriations Committee
OMBE
Commerce Department
Start-up era boosts minority business metrics
The text contrasts early perceived flaws at OMBE with substantial growth over six years. It notes increases from 24 to 68 minority banks with assets rising to 1.3 billion, from 43 to 71 minority savings and loan institutions, and from 450 to 2,450 minority franchise companies with receipts climbing from 67.5 million to nearly 400 million.
MENTIONED IN THIS ARTICLE
New York
Chicago
OMBE
Minority business growth credited to OMBE role
The passage notes minority business expansion into service stations retail trucking and cable TV from 12.6 million in 1969 to 700 million in fiscal 1974. It credits OMBE SBA and private sector and calls OMBE a vital catalyst for ambition industry and dignity in the minority business drive toward mainstream America.
MENTIONED IN THIS ARTICLE
Ombe
Small Business
America
Nashville film misreads America's flaws in political satire
The review argues that Nashville offers a broad but incorrect indictment of the nation. It portrays con artists among musicians and campaign staff, led by Hal Philip Walker, with a fatal ending for Barbara Jean as the satire targets fakery in politics and media.
MENTIONED IN THIS ARTICLE
Nashville
America
Hal Philip Walker
Congress
Barbara Jean
Haven Hamilton
Mike
Polonius
Art
George Wallace
John
Robert Kennedy
Dallas
Washington
Robert Altman
Kansas City
Nashville and the heart of American life
The piece argues that Nashville is a narrow lens on American life, focusing on a small, image driven group. It contrasts film satire with the broader national fabric where most citizens work in mass institutions, face real dilemmas, and shape the country through practical choices. The essay notes showbiz politics but asserts true national greatness lies in organized mass society.
MENTIONED IN THIS ARTICLE
Time
Heartland
New York Times
Middle America
Kurt Vonnegut
Vogue
Nashville
America
Rings Ae
No Benchmarks in Economic Baseball
A 1928 AP analysis argues there is no single economic benchmark for midyear prospects. It notes mixed indicators, slow unemployment improvement, potential 8 percent rate into 1976, inflation near 6 percent midyear, rising food prices, and housing signs contrasting with a large seven month inventory. The piece also cites Detroit auto hopes and the era’s big spending rhetoric.
MENTIONED IN THIS ARTICLE
Business Week
Also Mentioned on This Page
Jeremiah Q. Wobbly
Yellowstone Park
Wobbly
Old Faithful
American Farm Bureau
The
Small Society
Brickman
Brekman
Robert E. Miller
Ortie
House
Liberal Democrats
James Kilpatrick
Joseph Kraft
Kraft
John Cunniff
NEW York (Ap
Business Mirror
Detroit
Automobile Society
Treasury
Rogers
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