Word: ackley
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...hustled back to Washington after a conference at the L.B.J. ranch with word that the President might request a tax increase of as much as $15 billion. Lyndon Johnson dismissed the report, sniffing that "guesses will be made from time to time-that is a democratic privilege." Next, Gardner Ackley, chairman of the Council of Economic Advisers, flew down to Austin with a report as bright as the Texas sun: 1967, he said, should bring a "more balanced, moderate kind of growth," with fewer slowdowns or inflationary pressures. Did this mean that there would not be a tax increase? Said...
Treasury Secretary Henry Fowler, Budget Director Charles Schultze and Council of Economic Advisers Chair man Gardner Ackley, who prepared the memo, are by no means the only offi cials to believe that the President should make up his mind on the tax issue as soon as possible...
...Question of Price. Washington seems delighted with the slight autumn chill. "The trend," insisted Treasury Under Secretary Joseph Barr, "is definitely toward a rate of growth which the economy can sustain." Added Chief Presidential Economic Adviser Gardner Ackley: "The economy today is pretty much what I like...
...sign currently in the window of the shop expalins that "in recent extended negotiations with Gardner Ackley, chairman of the Council of Economic Advisers, and Willard Wirtz, secretary of Labor, were we persuaded not to aggravate the current inflationary trends in the national economy? Yes! Haircut prices shall remain the same...
Constrained by no such considerations, Walter Heller, Ackley's more activist and more articulate predecessor, had quite a bit to say on the subject in a paper published last week by Minneapolis' National City Bank, of which he is a director. He argued that in the face of the inflationary pressures that are being generated by Viet Nam and domestic spending, the Administration should be working toward a budgetary surplus instead of a deficit. This would be the second, or braking, part of the New Economics, whose expansionary aspects set off the economic boom. Heller called...