Burns Eyes Federal Spending Cuts to Curb Inflation
Williamsburg VA AP UP I reports Fed Board Chairman Arthur Burns says the administration may unveil plans to pare federal spending to fight inflation. He expects a small plus in Q2 GDP, avoids tax cut hope, and notes difficulty forecasting growth due to inflation. Burns and West Germany’s Karl Klasen see no imminent recession.
MENTIONED IN THIS ARTICLE
Aio—Independent
Press-Telegram
Vaneesaen
Burns
Williamsburg
UPI
Federal Reserve Board
Arthur Burns
Congress
Treasury
William E. Simon
Simon
Simon warns against ad hoc tax reform plan
Simon told a Senate Finance Committee hearing that ill conceived tax reform could worsen the economy. Mondale and Bayh urged amendments to a debt ceiling bill, proposing cuts and repeals of anti export and oil rules. Most committee members backed administration backed measures, with Byrd calling the floor debate inappropriate.
MENTIONED IN THIS ARTICLE
Washington
UPI
Treasury
Willam E. Simon
Senate
Walter F. Mondale
D-Minn
Simon
Senate Finance Committee
Mondale
Sen. Bireh Bayh
D-Ind
House
U.S
Means Committee
Siman
Sen
Harry
P. Byrd
D-Va
European Space Lab Contract Ties to Shuttle Program
The European Space Research Organization awarded a 226 million dollar contract for a reusable space laboratory named Space Lab to be carried aboard the U.S. space shuttle under development. European scientists will use the lab in flights planned to begin in 1980, with the shuttle system costing billions to build and operate into the early 1980s.
MENTIONED IN THIS ARTICLE
Waslington
NYTL
European Space Research Organization
Paris
United States
Spacelab
Whic U.S. Space
Also Mentioned on This Page
Roy Ash
Karl Klasen
Central Bank
Klasen
Chagall
Dali
Rockwell
Toulouse-Lautrec
Broadway Cerritos
Los Cerritos Mall
Aspea Pta
Lakewood Carson
Paramount
Sace 69
the Treasury
Torrance Sepulveda
Hawthorne
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