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Complacency Over Spending Warns Hoover of Economic Strain
The piece cites former President Hoover and Treasury Secretary Humphrey warning that 103 billion dollars in annual government levies and high taxes hinder saving and industrial growth. It notes rising living costs, growing debts, and public calls to fund social programs gradually as the nation faces inflationary pressures and a looming need for 14 million new jobs annually. The text closes with a science aside about the velocity of sound increasing with temperature.
MENTIONED IN THIS ARTICLE
Hoover
Treasury
Humphrey
Brundage
National Guard