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Economy / Surcharge / Inflation #3834

ABC Evening News for Monday, Feb 17, 1969
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(Studio) Chairperson President Nixon's Council Econ. advisors, Paul McCracken, told Senator House Econ. Committee rate of inflation must be reduced. Rise in unemployment may be unavoidable. Admin. says 10% surcharge to be continued for year
REPORTER: Frank Reynolds

(DC) [McCRACKEN - feels can't allow major deficit to occur. Extension of 10% surcharge depends on economy review.] [Senator William PROXMIRE - doesn't understand why administration doesn't reduce spending.] [McCRACKEN - declares expenditures in future to be based on decisions.] [PROXMIRE - feels people concerned over spending and high taxes.]

Clark, Bob;
Reynolds, Frank

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