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Reagan Economy Emergency #508355

NBC Evening News for Thursday, Dec 18, 1980
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(Studio) Ronald Reagan's possible plan for calling of national economy emergency the afternoon of his inauguration reported.
REPORTER: John Chancellor

(Los Angeles, California) Edwin Meese news conference reported Franklin D. Roosevelt action in 1933 recalled. [MEESE - does not contemplate such drastic action as bank closings.] Govt. hiring freeze, controls on federal spending mentioned. [MEESE - speaks of Reagan stance on consumer credit.] Firm plans said not due until 2nd week in January
REPORTER: John Palmer

(DC) Purpose of economy emergency said to heighten public pressure on Congress to take anti-inflation action, include budget cuts, spending cuts. Welfare programs such as food stamps, Medicaid, school lunches mentioned as objects of cuts. Cuts in government expense detailed. Demonstration against interest rates at Federal Reserve headquarters shown. [American Bankers Association Lee GUNDERSON - comments on controlling inflation.] Dangers of plan noted.
REPORTER: Irving R. Levine

Chancellor, John;
Levine, Irving R.;
Palmer, John

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