ABC Evening News for Thursday, Jun 01, 1978
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(Studio) Rise in index of leading economy indicators for April reported; expected wholesale price figs., to be put out on Friday, noted. Earlier report on increase in cost of living mentioned.
REPORTER: Harry Reasoner
(DC) Demands by Republicans in Congress for cut in President Carter's spending plans and in budget deficit scheduled for FY 1979 reported [Representative Barber CONABLE - says American people know that one can't continue spending beyond means without devaluing dollar.] Similar statements from factions closer to President noted. Brookings Institution predictions about situation given, as is Senator Banking Committee view of conditions, especially with regard to Federal Reserve Board's possible tightening of money supply. Board chairperson William Miller's success in persuading Carter to reduce tax cut proposal and present doubts about advisability of that cut examined.
REPORTER: Dan Cordtz
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