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The Pantagraph from Bloomington, Illinois • Page 10

Publication:
The Pantagraphi
Location:
Bloomington, Illinois
Issue Date:
Page:
10
Extracted Article Text (OCR)

Pantograph A-10 Bloomington-Normal, III. Jun 4, 1978 it's C30EV3E Recession only matter of 'when Miller says IMPROVEMENT TIME AIR.REMODEL-REDECO I 1 1 -j. could single handledly bring on a recession by continuing to raise Interest rates, which add to the expense of both consumer and business borrowing "I think there is concern about a recession." he said "If I wore making policy. I'd ask when do we want that recession? Should we try to put it off as lone as possible, or try to get it out of the way now befoie the next presidential election''" Administration economists have ruled out a recession for the remainder of 1978. but they say 1979 remains a question mark Speaking of the possibility of a recession, one economist, also preferring to remain anonymous, said.

"It bothers me because we would go into it with high prices and high unemployment What would they be when wc came An economist at the Hrookings Institution, an economic think-tank oriented toward IVmocratic Party positions, said IU H. dri-Ron kr Akocial'd Vrvw rilrr WASHINGTON (AIM Inllation has clearly pot ton mil h.tml in recent month, raising anting iUfi that the nation may be he.ijed lor a new re-cession if it continues unchecked William Miller, the ivw chairman of the Federal Heserve Hiiard. is quite hliint on the point The hoard has been trying to combat what Miller describes as a "virulent" rate of inflation by tiuMenwn the money supply and pushing up interest rates actions which restrain economic prowth Miller says that if the Fed is forced to act alone without the help of the Carter administration, there is a risk "that we may restrain so muc there will be a recession Hut two administration economists, declining to be identified publicly, contended that Carter is cooperating with the Fed One expressed concern that the Fed He'll help you plan select proper materials give you helpful build ing hints and save you money. Yes, he'll even help you find adequate financing! Bring your building problems to Alexander's and be assured of receiving courteous, economical assistance in solving them! There's no better place to start your NEW HOME the consensus there is that an inflation-induced recession is inevitable by 11)80 at the latest He. too.

asked not to be identified publicly. Inflation has been in the 10 percent range in the past three months. And consumer prices were up 0 9 percent in April alone the worst monthly rise in more th in a year. The administration expects some easing of inflation later this year and an over.il! increase in prices of 7 percent in 1978 The last time inflation was above 10 percent was in 1974, when prices increased 12 2 percent just before the nation plunged into a deep recession. It hasn't yet fully recovered Many economic policymakers are remembering that experience more vividly these days.

Treasury Secretary W. Michael Hlumenthal and other administration officials say publicly that a recession can be avoided. Nonetheless, they've put into effect what Hlumenthal describes as a mid course correction" to take into account the threat of rampant inflation The "correction" includes a cutback in the proposed tax cut and a new effort to hold the line on government spending in 1979 and 1980 This would be done by reducing the fiscal 1979 budget deficit by as much as $2 billion to $5 billion below the currently projected deficit of $53 billion Meanwhile, the Office of Management and Budget is preparing a list of spending bills before Congress bills that Carter will consider vetoing if they are enacted LET YOUR FRIENDLY ALEXANDER HANDYMAN HELP YOU WITH YOUR PROJECT tfflP 1- I- ALEXANDER LUMBER CHENOA COLFAX FARMER CITY HEYWORTH HUDSON IE ROY NORMAL GM QUALITY SKVC PARTS GENERAL MOTORS MKTS DIVISION KEEP THAT GREAT GM FEELING WITH GENUINE GM PARTS Won't sing anthem, so no diploma DAYTON. Ohio tAP A federal judge has refused to interfere with school officials who barred Randy Faison from high school graduation ceremonies Friday night because he refused to sing the national anthem. The 18-year-old senior at Dunbar High School brought suit in federal court on Thursday after school officials told him he could not take part in graduation exercises.

His mother. Annis Faison. said her son does not believe in the national anthem "because it does not concern the black people." The incident apparently occurred during a music practice at school. Church plans day camp at Hopedale HOPEDALE (PNS)-The United Methodist Church will conduct a Summer Day Camp from 10 a.m. to 2 p.m.

June 19-23 at Hopedale Park. The camp will be for children kindergarten age through seventh grade. Crafts and other activities are planned. Those participating are to bring sack lunches. In case of rain, children will go to the church and will be dismissed at noon.

Registration will be from 2 to 5 p.m. Monday. I 3u. 1 i Derricks, old and new An oil drilling rig operated by Gear Drilling Co. sits behind a windmill which pumps water for cattle near Dalton.

Neb. (AP Laserphoto) Bible school to open Monday at Emden EMDEN (PNS)-Vacation Bible school will be conducted at the Emaen Christian Church from 6:15 to 8:30 p.m. Monday through June 16. The theme of the school is "Jesus. God's Wonderful Gift." Knights Templar conclave Monday FAIRBURY (PNS)-The annual conclave of St.

Paul Commandery, Knights Templar, will be at 7:30 p.m. Monday at the Masonic Temple. Odell Mr. and Mrs. George Roberts of Tuscumbia, and Mr.

and Mrs: Luther Posey of Town Creek, Thursday were visiting Mrs. John Roberts and family. Julia Wheeler Thursday was visiting her son-in-law and daughter, Mr. and Mrs. John Schnell, at Milwaukee, Wis.

Patrick Stoeckel, stationed at Camp Lejeune. N.C., with the U. S. Marine Corps, Thursday was on leave here with his parents, Mr. and Mrs.

Quentin Stoeckel, and had received word of his promotion from lance corporal to i fl -4C- CORRECTION The Vivitar 365 Zoom Flash System DOES NOT include the Charge 60 Power Unit as stated in our Thursday ad. We are sorry for any incon venience. Lowell Jewelers 1207 Towanda Ave. Service to others as a Medical-Dental Assistant We'll make sure your car is ready to go A Medical Career Program at Midstate College Art Gene's Oldsmobile Essig Motor Co. Canton Washinston This summer, don't let car problems spoil your vacation.

Get your car serviced before you leave. So you won't have to have it serviced on the road. From major repairs to simple tune-ups even lubrication jobs and oil changes you can be sure we'll service your car the way we would service our own. So you can spend your time planning a fun- Graves Oldsmobile Chillicothe Heyl Motor Co. Barker Oldstown Bloominston Brenkman Oldsmobile Pekin Eureka Joe McCarthy Oldsmobile Peoria filled trip.

Call now for an appointment. At the only dealers who call themselves The Trusted Men of Olds. Young people with a genuine concern for people, good judgment, a sense of responsibility, and the ability and enthusiasm lor dedicated service choose the medical profession. Thorough training is given in medical terminology, laboratory techniques, office ethics, and professional methods. The need for well-trained competent medical assistants to work hosp.tais.

clinics, physicians and dental offices has increased many times former levels. Midstate's program prepares you for this service career. Register Begin June 19 midstate college Phone: (309) 673-6365 Call Collect.

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About The Pantagraph Archive

Pages Available:
1,650,334
Years Available:
1857-2024