Word: chairman
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Dates: during 1970-1979
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...more members scrutinized it, the less they seemed to like it. Flaws were beginning to show through the rhetoric. Especially vulnerable was the $88 billion synthetic fuel plan. The House had already passed a much reduced version of the President's ambitious proposal, and Senator Scoop Jackson, chairman of the Energy Committee, was readying a bill of his own. "We want to get a real beginning on synthetic fuels," Jackson said. "There's a coalition forming of strong fiscal conservatives who say this is a spending program. We say it's an investment program...
...other main component of the President's energy program - the windfall profits tax on oil companies - was in similar trouble. Though the House had passed the bill, it was stalled in the Senate. It was said that Senator Russell Long, chairman of the Finance Committee, had abandoned his commitment to put a windfall tax bill on the President's desk by Oct. 1. The White House let it be known that it was willing to compromise. The $146 billion in revenues anticipated from the tax would not all have to go to mass transportation or to relief...
Carter may not even be able to stimulate the economy when he wants to; the choice is not entirely his. Many members of Congress continue to regard inflation as enemy number one. Says Bob Giaimo, chairman of the House Budget Committee: "Some Democrats are talking about incentives and stimulants. I don't think they're reading the tea leaves right." Carter may also find the Federal Reserve balkier than before. Its new chairman, Paul Volcker, is a more determined inflation fighter than his predecessor, William Miller, who is now Treasury Secretary...
Nobody who knows anything about how our Government operates will believe that it is possible for our President to get the Secretary of State, Secretary of Defense, Chairman of the Joint Chiefs of Staff and director of the Central Intelligence Agency onto a conference call in the 15 minutes that he has to make a decision, much less issue an order that then travels down the line of command in the 15 minutes. So the only way is by delegating the authority down to some field commander, who must be given the discretion that when he thinks a nuclear...
...shows that some investors remain worried about the long-term direction of the U.S. economy, the market decline early last week was considered to be a short-lived emotional response to higher interest rates. These both slow the economy and make bonds relatively more attractive than stocks. Federal Reserve Chairman Paul Volcker repeated that he is committed to throttling back the growth of money supply, and that interest rates would therefore remain high as long as the rate of inflation did. Indeed, the banks' prime rate for business loans climbed from 12¼% to a banana republic...