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Ford Economy Proposals / Cong. #231729

CBS Evening News for Monday, Oct 07, 1974
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(Studio) President Ford's economy proposals before Congress can affect world's tottering economy 1st priority to be inflation relief for real hardship cases: poor, elderly, sick etc.
REPORTER: Walter Cronkite

(Pasadena, Florida) Bethany Towers, home for retirees; inflation hits hard. Mr. and Mrs. Norman Purnell must limit retirement plans. [Mrs. PURNELL - says she and her husband must give up several plans; decision causes disillusionment.] [Bethany Towers manager Mrs. Dorothy BUTLER - says many retirees didn't save enough money to cope with inflation and higher prices.] [Mrs. Ruth HALE - recalls depression of `30s, but believes it's worse now because she's older. Fear of medical expenses constantly there.]
REPORTER: David Dick

(Studio) Rptdly., President Ford to ask for 5% tax surcharge on middle and upper income brackets. Congress opposition rises, however. Ford also plans to cut government expenditures. To help business, Ford may ask for tax break. Other possible economy plans outlined, incling. reviving home construction industry to provide boost for economy Many businesses forced to lay off workers because of economy crunch. General Electric among them.
REPORTER: Walter Cronkite

(Louisville, Kentucky) [Unemployed, Ronnie GRACE - says he's out of work. General Electric lays him off permanently.] Massive General Electric Company layoff direct result of failing economy; details given.
REPORTER: Ike Pappas

(Studio) President may offer plan to give unemployed public works jobs.
REPORTER: Walter Cronkite

(San Francisco, California) Local unions support federal job making. Several persons named who are presently helped by public works employment. [San Francisco manpower director Eunice ELTON - says federal jobs provide necessary services.] [Zoo attendant Tyrone WHITE - states federal job blessing for him and family.]
REPORTER: Richard Threlkeld

(Studio) President not expected to ask for wage, price controls or heavy taxes on gasoline. CBS to carry Ford address live at 4 p.m. EDT, Tuesday
REPORTER: Walter Cronkite

Reporter(s):
Cronkite, Walter;
Dick, David;
Pappas, Ike;
Threlkeld, Richard
Duration:
00:08:30

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