Arizona Republic from Phoenix, Arizona on June 18, 1970 · Page 7
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Arizona Republic from Phoenix, Arizona · Page 7

Phoenix, Arizona
Issue Date:
Thursday, June 18, 1970
Page 7
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Page 7 article text (OCR)

I I I 4 Th« Arizona Republic Mmnlt,itan,,JBMlMfM Demos criticize Nixon's economic talk United Press International WASHINGTON — Democratic National Chairman Lawrence P. O'Brien assailed President Nixon's economic speech yesterday, charging Nixon "sold out to the big business interests that have historically dominated the Republican Party." O'Brien's sharp criticism was joined by other Democrats in Congress. Sen. Alan Cranston, D-Calif., commented: "We are now in the worst recession since the Eisenhower-Nixon recession of 1957 and all the President offers is partisanship and palliatives." O'Brien said in a statement that the President "has turned his back on the citizens who are caught in the worst inflation-recession squeeze in history—the housewife, the blue collar worker, the farmer, the retiree and the ftiore than folur millitlft Americans who are unemployed." AFL-CIO President George Meany said Nixon's study commission on increasing productivity and his plan for "inflation alerts" to spotlight excessive wage and price demands "may increase public education on economic issues, (but) 1 fail to see how they will curb inflation, reduce unemployment and cut interest rates." Rep. Henry Reuss, D-Wis., who favors a wage- price freeze, said:, "This lat- est policy is too little and too late. What are needed are standards for wage-price behavior, and a temporary .freeze to get a handle on hv flatten. Instead what the President proposes is to tell business-and labor to drive slow, without setting any speed limits." Sen. Albert Gore, D-Tenn., noted Nixon said nothing about "the disastrously high rates of interest." Gore said he would introduce legislation setting a maximum interest rate of 6 per cent. Sen. William Proxmire, D-Wis., called Nixon's proposal to call public attention to big wage and price increases "excellent." "It will certainly not solve the inflation problem but it More about Nixon plans 'inflation alerts Continued from Page 1 the carpet and browbeaten by government officials." But he said "that sort of grandstanding distracts attention from the real cause of inflation and can be a dangerous misuse of the power of government." The "inflation alert" will "spotlight the significant areas of wage and price increases and objectively analyze their impact on the price level," Nixon said. It will be made by the Council of Economic Advisers and reported to the productivity commission, made up of six public, six labor and six management members, plus the secretaries of the Treasury and Labor, the chairman of the Council of Economic Advisers and the director of the Office of Management and Budget. The "inflation alert" will be used to analyze past events — not to warn of expected wage and price boosts, • administration officials said. When asked what good the warning after the event would do, they said that the thinking of union and management representatives on the commission would influence labor and industry decisions. The President also announced that he would establish a Regulations and Purchasing Review Board to review federal purchasing practices. Caspar';, W. Weinberger, deputy director o? ' the Office of Management an Budget, will head the board. Outgoing budget director Robert P. Mayo also will serve on it. While declaring that "this is not the time for the Congress to play politics with inflation," the President singled out Congress for failure to pass economic measures he had recommended. He also indorsed a proposal to guard investor losses from brokerage house failures. The proposal would provide insurance coverage up to $50,000 for any investor through a non-government corporation. Brokerage houses would subscribe to a fund and the government would stand behind it with a $1 billion guarantee. , The President urged Congress to give prompt approval to proposals to strengthen the unemployment insurance system, the Manpower training program, the plan to tie Social Security benefits to the cost of living, the emergency home finance bill, and the bill to give the Small Business Administration new authority to stimulate bank and other loans to small businesses. He also said the Transportation Department should be authorized to provide emergency assistance to railroads in financial distress. The President and administration officials who commented on his speech emphasized the importance of increasing productivity, which they said had declined from the highs of the fifties and early sixties. "We must achieve a balance between costs and productivity that.:wi,ll lead .to more stable prices," the President said," ? ^; v ' '•"'•+ ]""" He argued that the administration, by its spending restraint, "has set the example in this past year" and has earned the credentials "to call for similar restraint Jrom.;business and labor to"slo^down inflation.'" *} will help significantly to bring pressure to taetr on both unions and management to keep their decisions reasonable," Proxmire said. Sen. John G. Tower, R-Tex., said Nixon "has wisely chosen an appropriate and responsible course which is leading the way to economic health. This pathway is neither smooth nor short. It is correct." Two other Democratic senators, Abraham Ribicoff of Connecticut and Jennings Randolph of West Viiglnia, renewed demands for wage price contrils. "Wage and price controls are long overdue and necessary," Ribicoff said. Randolph said voluntary methods will not "make a real dent" in inflation or unemployment. Sen. Robert J. Dole, R-Kan., told the Senate the President showed "courage and hard - headedness." He said Nixon was "neither overly optimistic nor overly pessimistic." Sen. Charles Percy, R-I1L, praised Nixon's decision against wage - price controls, which, he said, are "self - defeating and could not be enforced." Sen. Jacob Javits, R-N.Y., praised the speech and called on Nixon to revise depreciation < rates, permitting industry to depreciate new plants and equipment more rapidly as a spur to modernization and greater productivity. House Democratic leader Carl Albert described Nixon's proposals as timid but congratulated him for "finally taking cognizance of the debilitating effects the administration policies are having on the nation's economy." But Albert, who is in line for speaker next January, if the Democrats keep control of the House, added: "I agree with the President's statement that the American people will see through any attempt by anyone to play poll- tics with their cost of living. Certainly, I believe the American people will see through the President's attempt to do j» BEFORE YOU DECIDE, CHECK THE VILLAGE GREEN NURSING HOME 2932 N, 14rh St. • 264-5274 MAK6 DAD GLAD FATHER'S DAY JUNE 21 ; WIN AWARDROBE FOR DAD. , .register in Rhodes Men's Depart* ment to win a $50 wardrobe for Father. No pur* chase necessary, drawing on June 20th at 4:30 pm. The first 100 children to register on Thursday, June 18th will receive a free ticket to the Phoenix Giants ball game. ^NJIP^ Rhodes • Golf Driving Lessons • Strolling Fashion Models • Fly Tying Demonstrations • American Red Cross Resuscitation Demonstration An exciHng, fun-filled week for you at Thomas Mail* Exhibits and demonstrations for all, Golf pros will show ydu ways to improve your swing lovely fashion models will parade the new in leisure living wardrobes Arizona fly casters will demonstrate their expertise) and the American Red Cross will demonstrate the art of resuscitation. Bring the family, see it all!.. DEMONSTRATION HOURS June 18—2:00-4:00 PM 7:00-7:00 PM June 20—2:00-5:00 PM* June 25—2:00-4:00 PM 7:00-9:00 PM June 27—2:00-5:00 PM* June 19—2:00-4:00 PM 7:00.9:00 PM June 22—2:00-4:00 PM** 7:00-9:00 PM June 26—2:00-4:00 PM** 7:00-9:00 PM THIS WILL GIVE YOU A LIFT! LEISURE LIVING SHOW! ARIZONA! The vacation state! More to see, more to do all right here at home. Visit Thomas Mall June 18 thru 2^ and learn more of the great ways to improve your leisure living in Phoenix and Arizona *Golf driving d«moi. 2:00-4:00 **No golf driving demo Exhibitors: American Red Cross Aqua-Sporti, Inc. ArfrtM Department of Public Safety Arizona flyeaiteri, Mesa and Phoenix Arixona Gam* and Fish Department Arizona State Parks Arizona Wildlife Federation Big Surf, temp* Bureau of Land Management Hfgh Adventure Headquarters . Honda Authorized Dealer Jackson Gyrocopter Salei Maricopa County Parfct and Recreation J. A. Pearce (Sandbuggyi) Petrified National Forest Phoenix Zoo Sails West (Sail Boatf) Tonto National Forest will be telling 1970 Forest Permits, $7.00 Van's Mobil* World (Campari) Wax Museum, Scottsdal* Y.M.C.A. Hikers Club FATHER'S DAY, JUNE 21st Shop for HIM in cool comfort. TH MALL EAST THOMAS ROAD AT 44th STREET After dark and during the day, Vic Wilmot keeps tabs on the entertainment world on the Entertainment pages of The Republic FLAGf 'COMPANY Ccmtlbori at 18th Strtj&t, Mori, thru Sit. 9:30 to 9:15 MAKE DAD GLAD . . . look at all these wonderful ways to please him on Father's Day. You're sure to find the perfect gift for Dad in Rhodes complete array of handsome and unusual gift ideas. SWANK JEWELRY . . . cuff link and tie bar or tac sets. Standard or wrap-around styles in gold or silver 5.00 to 12.50 NINE FLAGS COLOGNES . . . toiletries from around the world, sat of nine 4 oz. flasks. Blendable fragrancei V. ,. 18.00 BRIJISH STERLING , . . set of after shave and Cologne, 4 ox, of the finest fragrances for him ...,,.,....,.,.,,,,,,..,,..8,00 FLIGHT TIMS CARRYON . . .carry it on and off, fits under the seat, saves time, Packs a suit plus extras .,.,.,,,/, ,9,99 Men 1 ! Furnithlngi, M«ln flour

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