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Newspaper
Biddeford Saco Journal
Location
Biddeford, Maine, United States of America
Date
Dec 24, 1974
Page
4
President Ford denounces recent steel price increases seen as inflationary. U S Steel boosts prices 8 to 10 percent, impacting manufacturers nationwide. The piece argues inflation hits all industries and management must balance costs with market demand.
The 93rd Congress debated S.585 to ban sales of radios over 15 dollars that do not receive FM. Supporters claimed access to FM, while opponents warned of forced purchases and subsidies for FM broadcasters. The Senate passed the bill 44 to 42. House committee approval came but no passage this year.
The Biddeford Saco Journal lists Wm. E. Foster Alta W. Foster B. F. C. Whitehouse and staff including W. Paul Casavant Charles C. Sutton Gladys M. Whitehouse. It notes subscription rates payable in advance: one month 3.60 six months 21.60 one year 43.20 and AP news use rights for local and dispatched reports.
A leaked draft outlines a 7.7 million Saudi promotion funded by Raymond Mason of Charter Corp to bolster King Faisal's image. Projects include a Met Opera Aida production, university chairs, a 16 page newspaper supplement, and TV and high profile tours featuring Saudi royals.
Paul Harvey argues that tears and complaints won't fix inflation or help the economy. He suggests the nation should expect more from leaders and citizens and focus on effective actions rather than protest rhetoric.
The Nation reports a split among economists on stimulus versus inflation control. Ten economists advise easing, with support from auto makers and the UAW, while Treasury and Greenspan hesitate. The piece discusses unemployment, inflation, and the potential impact of tax cuts to stimulate growth, plus political factors shaping the budget and deficit projections for 1976.
As 1974 ends amid economic turmoil, a bipartisan national unity cabinet is proposed for President Ford to select from across parties. The idea aims to negotiate a joint program with Democratic leaders for the remaining term, amid rising prices and unemployment and global tensions.
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