Word: alan
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Dates: during 1970-1979
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Deepening Crisis. Later, accompanied by the news that November unemployment reached a 13-year high of 6.5%, his own top advisers were telling him something quite different (see ECONOMY & BUSINESS). Both Secretary of the Treasury William Simon and Alan Greenspan, chairman of the Council of Economic Advisers, have already let it be known that they favor a gasoline-tax hike. In a joint press conference, they also suggested that they might support a general tax cut, since the re cession is turning out to be sharper than expected. Even Ford's visitors from abroad, Canadian Prime Minister Pierre Trudeau...
...members of the United Mine Workers voted to accept a contract that will raise wages and benefits 54% over the next three years. The end of their 24-day strike will avert many layoffs in coal-using industries. But enough workers are being furloughed anyway to keep unemployment climbing. Alan Greenspan, chairman of the Council of Economic Advisers, now predicts that the unemployment rate will peak at "something over 7%" next summer...
...Kirland House and Worcester; Jerrold S. Levine of Winthrop House and Boston; Marvin B. Lieberman of Adams House and Pittsburgh, Pa.; Richard H. Millington of Winthrop House and Bar Harbor, Me.; Raymond T. Pierrehumbert of Dunster House and Passaic, N.J.; Jeffrey D. Sachs of Adams House and Detroit, Mich.; Alan D. Sokal of North House and Boston; Hal F. Starnes Jr. of Dunster House and Asheville, N.C.; Cass R. Sunstein of Currier House and Salem; Eric H. Wachtel of Adams House and New York City; Douglas H. Wilkins of Dunster House and Boston...
What might make Ford agree to a tax cut? First, his political advisers might simply persuade him to override the objections of Treasury Secretary William Simon and Chief Presidential Economist Alan Greenspan, the two of whom an insider describes as "the hardest of the hardliners" on budget control. Second, there could be signs that the economy might not bottom out in the first half of next year, or if it does, that a recovery would be weak and slow...
...thus marking one of the longest slides since the Great Depression. Last week, with the election over, the White House ended its verbal contortions and permitted Presidential Press Secretary Ron Nessen to concede what most non-Government experts already knew: the U.S. is now in a recession. Alan Greenspan, chairman of the President's Council of Economic Advisers, added that the economy had stood up fairly well until late September, but "some time in the past four to six weeks there has been a marked weakening." The economy is likely to get worse in the next few months...