CBS Evening News for Thursday, May 14, 1970
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(Studio) Commerce Department reports 3% goods and services output decline; $1.7 billion deficit in balance payments; total national income decline averted by incrd. social security payments; industry production down. Federal Reserve Bd. Chairperson Arthur Burns says economy glum, will improve by 1971 end; reports US between recession and inflation; supports unemployment hiring if needed; tax increase would have to pay for it.
REPORTER: Walter Cronkite
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