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Nixon faces quadriad amid cautious mood at White House
President Nixon convened the four top economic advisers the quadriad with Treasury Secretary David M. Kennedy Budget Director Robert Mayo CEA Chair Paul McCracken and Arthur Burns to discuss the economy amid dim prospects for an income surtax extension a White House photo session followed. A $4.35 billion supplemental spending bill cleared by both houses awaits his signature including Viet Nam war funds federal pay raises and an annual $191.9 billion cap. Separately an FDA study found two thirds of medicines poorly labeled with many ineffective. the three year 1 million dollar study covered 4000 preparations and noted 7 percent ineffective. Sen Fulbright urged stronger controls on the military department amid Safeguard debates.
MENTIONED IN THIS ARTICLE
Nixon
Treasury
David M. Kennedy
Robert P. Mayo
Paul W. McCracken
Council of Economic Advisers
Arthur F. Burns
Washington
Senate
House