Economists Split on Nixon Economic Proposals Mixed reviews from bankers and Samuelson.
Economists give mixed reviews to President Nixon's plan. Nobel laureate Paul Samuelson approves eight points but criticizes the proposed $4.7 billion federal spending cut. He doubts the arithmetic will create jobs and fears a negative effect if expenditures are cut to offset tax cuts.
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Paul Samuelson
Samuel
Belmont
Mass
Galbraith
Newfane
Pesgte
Ee Ee Ee
Milton Friedman
University of California
John M. Leiiche
Innomics
United Nations
Pierre Rinmessage
Rinfret
Nixon
China
Energy will drive limited wage price freeze into 90 days
The speaker notes the wage price freeze has energy behind making it permanent, though it lasts only 90 days. He argues growth of jobs will likely cause a contraction overall as two steps back are the investment tax credit and the international segment.
Nixon plan praised by Mills in tax policy debate
Mills calls Nixon tax package excellent for controlling legislation though McGovern deems it economic madness. Javits labels the plan bold, while critics warn it may not fully aid small businesses or farmers. Economists debate wage price freezes and potential long term effects on spending and growth.
Japan Expects Heavy Blow From Nixon Import Tax
Tokyo officials say the 10 percent U.S. import surtax will hit Japan’s export trade hard. Chief Cabinet Secretary Noboru Takeshita calls for rapid repeal and notes no yen revaluation plan. Bank of Japan to buy dollars if excessive FX selling occurs as business leaders foresee limited retaliation.
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Tokyo
Nixon
Japan
Noboru Takeshita
Bank of Japan
United States
Russia Hits Nixon Speech
Moscow dispatch reports critical reaction to President Nixon's televised speech with analysts citing domestic and international implications. The coverage notes emphasis on policy signals and potential shifts in Cold War dynamics amid ongoing diplomacy.
U.S. Population Reaches 200 Million Milestone
Report notes the United States hits and surpasses the 200 million population mark by mid November, signaling a new demographic milestone amid ongoing growth and regional shifts in population distribution.
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U.S
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