Economists See Steady Recovery Amid Inflation Risk
A panel of 20 industry economists told the Business Council the U.S. economy is on a sound recovery path into 1973. They forecast real growth around 5.5 percent in 1972 with 9 percent nominal growth, note inflation at about 3.5 percent, and urge restraint in federal spending and monetary policy amid inflation concerns. They also expect unemployment to fall below 5.5 percent by year end and anticipate solid gains in industrial outlays and durable goods purchasing.
MENTIONED IN THIS ARTICLE
S Springs
Business Council Today
Nixon
R. V. Hansberger
Council
Boise Cascade Corp
Hansberger
Price Commission
North Vietnamese Attack Targets An Loc Amid Heavy B52 Bombardment
Saigon reports another fierce push by North Vietnamese troops and tanks into An Loc 60 miles north of Saigon as 70 B52 sorties drop over 1 700 tons of bombs. A U S adviser is killed, another wounded, two spotter planes missing, and government forces fight to repel tanks and infantry assaults across the town. The siege and renewed shelling threaten to undermine Vietnamization and Saigon’s prestige.
MENTIONED IN THIS ARTICLE
Saigon
An Loc
U.S
Thanh
Quang Tri
Nixon
Sudden Texas Cloudburst Triggers River Flood Drowning Toll Rises
A Texas cloudburst dumped up to 10 inches in 90 minutes sending the Tagung Comal River over its banks. Eight people drowned in New Braunfels with more feared dead as the wall of water destroyed up to 20 houses and forced evacuations in New Braunfels San Marcos and Seguin. National Guard units were ordered to assist, reaching people trapped on rooftops and in trees as storms and tornado warnings moved through the area.
MENTIONED IN THIS ARTICLE
New Braunfels
Tex
Walter Fellers
Tagung Comal
Texas
San Marcos
Seguin
San Antonio
Austin
Preston Smith
National Guard
Tom Claxton
National Weather Service
Luling
Rains Reach 1.5 Inches at City Reservoirs in Oklahoma
A cool front produced showers and storms across Oklahoma, yielding rainfall totals over 1.5 inches in parts of the southwest. Lawton measured up to 1.60 inches at Lake Ellsworth and 1.50 at Lake Lawtonka and Meers, with downtown Lawton at 1.35 inches. Other areas reported heavier totals including Clinton 3.10, Elk City 2.77, and Lindsay 2.41 inches. runoff began in the Lawton watershed as lakes rise toward spillway.
MENTIONED IN THIS ARTICLE
Oklahoma
Lawton
Lake Ellsworth
Lake Lawtonka
Meers
53Rd
Gore
Clinton
Elk City
Lindsay
Lawtonka
Altus
Anadarko
Carnegie
Chickasha
Flet‘cher
Marlow
Many Firms Facing IRS Profit Check
IRS agents will examine thousands of medium size businesses for inflated profit margins. Donald Rumsfeld said focus will be on firms under price controls but with more than 60 employees. The audit program expands as controls were lifted from about five million firms with 60 or fewer workers.
MENTIONED IN THIS ARTICLE
Miami
Fla
Internal Revenue Service
Donald Rumsfeld
Nixon
Cost of Living Council
Rumsfeld
IRS
Tiger Bay Club
Price Commission
Commission Enforced
The
U S Signals Readiness to Return to Paris Talks
The United States declares it is ready to resume the Paris peace talks after suspending participation, reaffirming readiness to return on the May 4 basis. The statement contrasts U S openness with the Communist side’s perceived inflexibility and negative rhetoric ahead of Le Duc Tho’s Paris visit.
MENTIONED IN THIS ARTICLE
Paris
U.S
William Porter
United States
le Duc Tho
IRS weighing loss of tax-exempt status for North Carolina school
The IRS considers revoking the tax exemption of a private all-black school in North Carolina after a nationwide survey of 3,000 private schools found possible non-discriminatory admissions violations. A separate AP brief notes about 50 youths raiding Rep. Pierre S. Du Pont's Washington office, stealing a ring and a billfold and rifling a fridge.
MENTIONED IN THIS ARTICLE
Washington
Internal Revenue Service
North Carolina
Jashington
Pierre S. du Pont
R-Del
Richard Evans
du Pont
F4 Phantom Jets Cut Key China Hanoi Rail Link Bridge
A USAF F4 Phantom squadron under Lt. St Louis bombed a major railroad bridge northeast of Hanoi used by North Vietnam to connect with China. Pilot O Gorman reported heavy, 15 minute strikes on the solid structure, with bombers on a single mission and no MIG interference. The bridge forms part of two lines to China and northwest routes, both under heavy attack since Tuesday.
MENTIONED IN THIS ARTICLE
China-Hanoi
Hanoi
O’gorman
North Vietnam
China
Northwest
Kiwanians Back Nixon with Unanimous Support
The Downtown Kiwanis Club of Lawton, numbering 136 members, expressed unanimous support for President Nixon. The wire of encouragement reflects broad backing within the group as referenced in Kiwanis coverage.
MENTIONED IN THIS ARTICLE
Nixon
Kiwanis Club
Lawton
Also Mentioned on This Page
William P. Rogers
Peter G. Peterson
Guadalupe River
Cache Creek
Awaya
Tokyo
Tsushima Strait
Japan
Korean
Augsburg
Germany
U.S. Army
Frankfurt
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