Word: butz
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Shortages account for the immediate jump in farm goods. Agriculture Secretary, Earl Butz and other farm spokesmen, argue that America's increasing appetite for meat and other farm products has kicked up prices. On the other hand, many economists contend that the Government's elaborate price-support policies have contributed substantially to high food costs. Thus, the controversy over food prices, which will be a prime campaign issue, is also likely to bring into question the whole program of subsidies to agriculture...
...election-year trap very largely of his own making. He can hardly ignore the protests of consumers. On the other hand, Nixon has pledged to give the nation's largely Republican farmers a break that they felt he denied them early in his Administration. Indeed, Agriculture Secretary Earl Butz. who was hired last fall to quiet a near-revolt by farmers over low prices, has gloated over their recent levels. Farmers have benefited substantially in recent months from deliberate Government policies. Butz has budgeted a record $4 billion for 1972 agriculture programs, including $1.9 billion for feed-grain subsidies...
Despite spreading public impatience and anger with flyaway food costs, the Administration has done next to nothing to hold them in check for fear of losing the farm vote. Indeed Agriculture Secretary Earl Butz regularly travels through the farm belt holding out promises of even higher prices to come. Most economists are wary about controlling farm prices because it could lead to shortages and rationing. Yet there are alternatives to price controls. The Administration could increase supplies by 1) loosening meat import quotas, 2) reducing some price supports and 3) releasing Government feed surpluses on the market. A start...
Dean C. Jackson Grayson's Price Commission lowered the average yearly increase allowed large firms under its Term Limit Pricing rule from 2% to 1.8%. Grayson also properly chastised Agriculture Secretary Earl Butz, who had praised the present high meat prices before a cattlemen's group a few days earlier. Butz's speech was "damaging to the stabilization program," bristled Grayson. "Everyone must work to hold prices down, not push prices up as Secretary Butz is advocating...
Wooing Vote. The Consumer Price Index in January climbed by a seasonally adjusted .3%, a middling rise. But meat prices, a matter of prime concern to consumers, jumped 1.5%. Retail food prices for 1972 are expected to increase 4%. Wooing the farm vote, Agriculture Secretary Earl Butz recently told audiences of farmers: "We are trying to get farm prices up-and you haven't seen anything...