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(Studio: Dan Rather) Report introduced.
(Capitol Hill: Bob Schieffer) Federal Reserve chairman Alan Greenspan reported warning President Bush and Congress about national debt, inflation and recession. [GREENSPAN - comments on oil price rise due to Persian Gulf crisis; comments on budget negotiations.] [OMB director Richard DARMAN, Representatives Dan BURTON, Tom DeLAY, Melton HANCOCK - comment on budget summit.]
(Studio: Dan Rather, Ray Brady) Evidence of recession and "stagflation" analyzed; details outlined on screen. [GREENSPAN - comments on inflation.] [Economist Irwin KELLNER - comments on recession.] [Economist C. Fred BERGSTEN - comments on detrimental effects of Federal Reserve raising or reducing interest rates.] Gerald Ford mentioned; current and 1970's economies compared.
- Brady, Ray;
- Rather, Dan;
- Schieffer, Bob
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