St. Joseph News-Press from St. Joseph, Missouri • 7

St. Joseph (Mo.) News-Press WEDNESDAY, JULY 22, 1992 7A Greenspan remains optimistic Larry's Texaco Allen Computers Campaign money pays mortgage St Jot's Newest that economy is rebounding INTRODUCES Auta Diagnostic Center Associated Press Han's what wa ia far yea: Complete Top to Bottom ANALYSIS of Any Used Car with Print Out of what Is wrong before you purchase it. Continued from page 1 A cent rate turned in during the first three months of the year. Greenspan conceded that the big jump in the unemployment rate during the past two months to an eight-year high of 7.8 percent caught the Fed by surprise. Asked whether the rate could climb above 8 percent before starting to go down, Greenspan said, "I certainly hope not." Greenspan maintained that businesses and consumers "were making good progress at reducing ami $4a as Best Ulliy hava bafera baying your car a IS h.

the mountain of debt that they ran up during the 1980s. That, he Baid, was setting the stage for increased consumer and business INDIANAPOLIS A congressional candidate who gained widespread attention by running television commercials showing aborted fetuses has used campaign funds for a mortgage payment, a newspaper reported Tuesday. Michael Bailey, a Republican who is running against Rep. Lee Hamilton, a Democrat and 14-term incumbent, told The Ev-ansville Courier he saw nothing wrong with spending $1,091 in campaign contributions for his June mortgage payment. "In order to beat Lee Hamilton, we need to run full time, and to run full time, I have to lay down my job with Christian Media Ministries," as producer of advertising, he said.

Hamilton criticized Bailey, saying he objects to using campaign funds for personal expenses. down on future action. He did say he would be "quite surprised" if coming quarters showed negative GDP growth, the traditional sign of a recession. He insisted that, though the economy so far has failed to meet his expectations, he believed the country was on the verge of a "quickening pace of economic activity as the grip of debt burden pressures begins to relax." Greenspan's noncommittal responses did not satisfy several lawmakers, who complained that the central bank had bungled its traditional role of alleviating economic downturns. "For almost two years you have been coming up here singing the same song about economic recovery.

You are in an ivory tower," said Sen. Alfonse D'Amato, "Your policies have exacerbated the problems we have today." But Greenspan said any faster efforts to cut interest rates could have triggered inflationary worries in financial markets and driven long-term rates up. Along with his testimony, Greenspan released the Fed's revised economic forecast in which the central bank boosted its es timate for unemployment for the last quarter of this year, saying it could be as high as 7.5 percent. Six months ago, it had forecast unemployment falling below 7 percent by the end of the year. Greenspan said a pickup in growth to around 3 percent in 1993 should be enough to "reduce the unemployment rate noticeably over the next year and a half." The Fed's forecast showed the unemployment rate falling perhaps as low as 6.5 percent by the end of 1993.

Greenspan said the higher growth he is forecasting will not be accompanied by higher inflation. Instead, he said the long and painful slowdown had set the stage for the lowest inflation rates in a quarter-century. He said the Fed had acted in a responsible manner during a period of severe economic stress not seen in more than 50 years as the speculative boom of the 1980s ended. "Despite widespread problems, we seem to have at least avoided the crises that historically have been associated with such periods in the past," Greenspan said, referring to such boom-bust episodes as the 1920s and the Great Depression. All Major 36th A Fradnrlck Next to LaBlond Credit Cards i spending in the months ahead.

He I 384-8483, 233-72SS Stu nut ml Arrepted "ell beyond the halfway point." ile noted that the central bank COME SEE WHAT'S IN STORE FOR THE FUTURE. had cut a key interest rate, the federal funds rate, 23 times in the p3st three years, reducing it from 9.J5 percent down to a 20-year-low of 3.25 percent. The federal funds mm Attorney General candidates spar With "li Cartti" Csisci lj Associated Press Judge accepts defense -4 TO RALEIGH GPC Cliarattss urn Srts 1 1 avoh rate is the interest banks charge eSfch other for overnight loans. Fed's last rate cut occurred on July 2, only minutes after the government released the July unemployment report. JSreenspan refused to be pinned at Oeorgia Continued from page 1 A and Gingrich had 21,629 votes or 49 percent.

The lead changed htids several times as the vote wa? counted. In many of the contests on the crZSwded Georgia ballot, an Aug. llyunoff seemed inevitable. Under-state law, candidates need a majority of the vote to avoid a runoff with the second-place finisher. Jones, a former actor who "Cooter" on television's Dukes of Hazzard," was running behind legislator Don Jdhnson in a five-way race.

With of precincts reporting, Johnson had 11,174 votes or 49 rzzi Kings $799 $799 in i in-1 Continued from page 1 A did not immediately return telephone calls to his hotel from The Associated Press. The legal doctrine that Til-son's lawyers argued is called the "justification defense." They said she should be acquitted of violating a lesser law criminal trespassing because the act she committed was an attempt to stop a greater law murder. Clark, in his 25-page opinion, said his ruling applies only to the case in question. Attorneys on both sides of the abortion issued agreed. But anti-abortion lawyers said perhaps it would give other judges the courage to look at the question of when life begins.

"It was a courageous thing for Judge Clark to do to even entertain the evidence," said Steven Graber of Hutchinson, one of Tilson's attorneys. Cowles said if the case is appealed, the appeal decision could be considered as case-law precedent. "When you start brining truth to the marketplace of ideas and you're overcoming a great deal of deception, you've got to start somewhere, It has great precedential value in that sense," Graber said. Tilson, a 33-year-old Wichita housewife, was arrested during protests last summer at Wichita Family Planning Inc. During 46 days of demonstrations at three clinics there were more than 2,700 arrests of about 1,700 people.

JEFFERSON CITY, Mo. A Democratic candidate for attorney general, Mike Wolff, on Tuesday accused challenger Jay Nixon of using his political influence to get a consumer fraud complaint dropped in 1988. But Nixon, a state senator from Hillsboro, said he did nothing to get Attorney General William Webster, a Republican, to drop the complaint against Raintree Plantation which is one-third owned by Nixon's father. "It sounds like a desperate candidate to me," Nixon said. "I didn't use any political pressure whatsoever." Wolff, a St.

Louis law professor, said Webster's office prepared a consumer fraud complaint against Raintree and Femrite Associates, a Texas firm that did mail order solicitations for Rain-tree's resort land development in Jefferson County. Wo Honor All Clgarotto COUPONS taiaB mmm br Yisr ttrMiil clucks teccsM wHk WMtVt Check PrMlcft Carl Aiily Ttaq. The formula for the future Is simple economics. Because of Fina, you'll save on many of the items you need the most for you and your car. So come take a look.

We ve got some good things in store for youl THE FORMULA FOR THE FUTURE i IT'S TIME AGAIN Cooling needs, percent, Jones had 8,126 votes or 36. percent, and the three others divided the rest. Johnson, chairman of the state Sejiate Appropriations Committee, accused Jones of working for perks and privileges, voting voluntary prayer in pub-li(rschools and being out of touch with voters in east Georgia's 10th District. He turned to biblical themes in a Congress-bashing letter to voters. Jones, seeking a third term, defended his voting record and accused Johnson of being out of touch with the Democratic Party arid of turning the race negative.

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