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(Studio) New York legislature holds emergency session to deal with New York and New York City fiscal crisis. New York Governor Hugh Carey and group goes to Washington, DC for federal aid.
REPORTER: Walter Cronkite
(DC) Carey seeks $2 billion in loan guarantees. Got neither yes or no answer.
REPORTER: Walter Cronkite (narrates)
(Atlanta, Georgia) [FORD - says no change in position until they've acted. They must raise taxes, reduce expenses, extend maturities and reduce interest rates. Labor orgs. must renegotiate pension plans.]
REPORTER: No reporter given
- Cronkite, Walter
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