Vietnam War blamed for wage and price freeze by Council of Economic Advisors
Economist Ezra Solomon, new CEA member, says the Vietnam War diverted American resources without tax funding, expanding GDP while reducing the share for consumers and workers. He calls the freeze a psychological damper and urges temporary wage and price restraints, predicting a recovery to free market norms after the 90 day period. He notes environmental spending as productive, argues restraint helps unemployment, and favors multinational currency stabilization.
MENTIONED IN THIS ARTICLE
Washington
Councilor Economic Advisors
Independent, Press-Telegram
Salomon
Reagan budget freeze to cost California millions in revenue
Sacramento reports the wage price freeze will reduce state tax income by several hundred million dollars, with officials expecting an economic upswing to offset losses. Fiscal year balance remains strained at 330 million dollars and debt near 170 million. Tax negotiations with Democrats will assess adjustments.
MENTIONED IN THIS ARTICLE
Sacramento
Reagan
Verne Orr
Ter
Houston Plownsy
Orr
Teachers pay confusion widens over salary raises
Washington officials clash as the American Federation of Teachers and NEA dispute whether the COL order exempts annual experience raises for teachers. AFT says most teachers will not receive raises during 90 days while NEA counters. Treasury undersecretary notes most pay increases may be barred, despite NBA estimates of nine percent receiving raises.
MENTIONED IN THIS ARTICLE
Washington
American Federation of Teachers
AFT
David Selden
Treasury
Charles Walker
NBA
Selden
Walker
COLC
NEA
Waldie seeks veto of Nixon federal pay delay
Rep. Jerome Waldie of California said he will introduce a resolution to veto President Nixon's plan to postpone a federal pay raise for six months. He argued the move targets federal workers to stabilize the economy before the 1972 elections. The administration projects about 1.3 billion in savings.
MENTIONED IN THIS ARTICLE
Washington
Jerome R. Waldie
inLalif
Nixon
Waldie
Congress
Also Mentioned on This Page
Economist
Lou Cannon
Our National Bureau
Ezra Solomon
Stanford University
Solomon
Soinman
Hendrik S. Houthakker
Council of
U.S
Selomen
Idher
Wege
Qor
ED Zuckerman
National Education Associaon
AIT
COL
Lees Ae Ea, A
AMT
Ros É
Wirth
Ee Ea Tal
Lakewood
Cme. Ee
Anitron
LEVIS
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