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Newspaper
Pecos Enterprise
Location
Pecos, Texas, United States of America
Date
Jul 11, 1979
Page
9
AP analysis notes Americans owe at least 288 billion in installment loans, up 45 billion in a year, plus over 1 trillion in mortgages across banks and lenders. It discusses how credit is used, who holds it, and the mixed risks for individuals and the economy as debt climbs amid rising home prices and bankruptcy concerns.
Andrews Texas AP reports that by 1985 Phillips Petroleum president William C. Douce predicts more than three quarters of all motor fuel will be unleaded. The discussion notes credit’s power to aid or harm economies depending on user choices and terms.
On this date in 1955 the U S Air Force Academy opened at Lowry Airbase Colorado. In 1967 John Quincy Adams was born in Braintree Mass. In 1804 Hamilton mortally wounded by Burr in Weehawken NJ. In 1814 Eastport Maine fell to a British fleet. In 1944 Roosevelt sought fourth term. In 1952 Eisenhower nominated by Republicans. In 1960 Tshombe declared Katanga independence. One year ago Spain campsite gas tragedy killed at least 180. Birthdays include Yul Brynner Nicolai Gedda Hermann Prey. Thought from Nathaniel Hawthorne.
Jack Anderson argues President Carter misreads the oil crisis as mere finance, labeling OPEC a deliberate economic assault led by Saudi and Libyan-backed ministers. He cites secret Geneva talks, price spikes, and a broad network of oil firms, banks, and political insiders profiting from high prices, urging a strong U.S. counteroffensive.
Washington reports rising uncertainty over President Carter prospects for re election. Vice President Mondale privately urged Democrats in Minnesota to avoid pledging support for the 1982 U S Senate race, fearing loss of office if the Carter Mondale ticket fails in 1980. Potential opposition from Senator David Durenberger, who filled Humphrey’s seat, could confront Mondale if he seeks a Senate return.
Sen. Howard H. Baker Jr. faces a clash between remaining Senate minority leader and pursuing the Republican presidential nomination. He plans to delegate daily leadership to Sen. Ted Stevens while focusing on the campaign late this year or early 1980, sparking pressure from rivals including Sen. Robert J. Dole and Rep. John B. Anderson.
A transformative shift within the GOP is visible as longtime hardline ideology yields to a more conciliatory approach. Republican state chairmen and executive directors gathered in Minneapolis signaling a party reorientation away from harsh rhetoric toward wider voter outreach and inclusivity.
Washington reports on Republican moves to broaden the party base through ethnic outreach and innovative strategy. Bill Brock pushes resources for inclusion of Black, Jewish and other voters and eyes a Detroit 1980 convention. Crane and Reagan discuss urban, economic and industrial Northeast campaigning. A party rule fight stalls delegate proposals as Brock urges rebuilding from the bottom up.
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