Navy Chief outlines bigger fleet punch despite cuts
Washington Admiral James L Holloway II as Navy chief plans to boost offensive power amid a fleet cut from peak Vietnam War levels to about 500 ships. He pushes more Harpoon missiles on destroyers and escorts, disperses carriers, and cites inflation pressuring maintenance budgets as forces reshape sea power strategy.
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Washington
James L. Holloway II
Navy
Holloway
Soviet Union
U.S
United States
Russia
Mills Warns Of Severe National Recession In 1970s
Rep Wilbur D Mills says the nation faces a serious recession after three quarters of declines in real GNP totaling about 9.7 percent. He cites unemployment rising from 4.9 to 5.8 percent and notes inflation accompanying the downturn, urging passage of a sound tax program. He adds that his Ways and Means Committee seeks a policy to address recession inflation but lacks sufficient support.
MENTIONED IN THIS ARTICLE
Washington
Wilbur D. Mills
Arkansas Democrat
House
Ways and Means Committee
Mills
Ford
United States
Federal Reserve Board
Arthur Burns
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